KNOW WHAT YOUR BUSINESS IS WORTH. LIMIT YOUR DISCOUNTING IF YOU WANT TO MAINTAIN THE AUTHORITY AND REPUTATION YOU’VE WORKED HARD FOR.(promotion strategy)
Typically, I urge my clients to only run two discount campaigns each year at most, and to prime those campaigns well in advance.
There are alternatives to offering a product at a discount if your sales are slumping.
THE FOLLOWING 16 METHODS ARE PROVEN TO INCREASE SHORT-TERM SALES WITHOUT IMPAIRING YOUR BRAND’S REPUTATION:
1. BOGO(promotion strategy)
BOGO deals benefit both retailers and customers. Although a BOGO promotion like “buy one get one 50% off” only saves you 25% off your entire order, it seems like much more.
Businesses like TOMS and BeautyCounter vouch for deals like these BOGO ones.
Without a doubt, a successful BOGO deal is one of the simplest ways to encourage clients to buy additional items and give them the impression that their order is really worthwhile. According to research, 66% of consumers like BOGO over all other forms of discount promotions. Furthermore, 93% of consumers said they had used a BOGO promotion at least once.
2. PACKAGES(promotion strategy)
The BOGO idea is comparable to the technique of offering bundles. Customers that select to purchase multiple products from you benefit from bundles. For customers searching for great savings or simply convenience, bundles like gift sets and package packages are perfect.
Glossier values product packages a lot. They even have a whole tab called “Save on Sets” where they show buyers just how much money they can save by purchasing a set.
You can increase sales for your company by giving a tiny discount on a bundle of multiple products, such as 100 Percent Pure, and so give your clients the impression that they are receiving more for their money. Offering bundles has the additional advantage of marketing goods that your clients might not have otherwise considered purchasing.
Offering bundles might be quite advantageous for baby care companies. Babo Botanicals provides mothers with a newborn and baby gift kit that includes all the necessary must-haves so they can get everything they need to wash, moisturise, and calm their newborns in one money-saving set.
Offering your kits as subscriptions is another option to take your bundles to the next level and see consistent sales. Rael, a firm that sells menstrual care products, offers essential kits that may be renewed each month for an additional 10% off.
3. INFORMATION PROMOTIONS(promotion strategy)
This advice is a terrific way to promote a brand that is run by a dermatologist, aesthetician, nutritionist, makeup artist, or another professional in the field.
A consultation promo can be given in a variety of ways, such as a quick 10-15 minute consultation with the brand expert with a $200 purchase or with the purchase of a premium comprehensive skincare set. Offering a fast consultation, such as a skin inspection or a beauty instruction, might encourage clients to buy from you and obtain individualised value.
In order to better serve them in the future, you will be able to learn more about your consumers throughout the consultation. You will be able to identify who they are and learn about their primary problems.
You can engage someone to do consultations on behalf of your brand if it wasn’t started by a doctor or aesthetician.
For a minimum purchase price, the beauty line Spectrum offers masterclass tutorials with licenced makeup artists.
The opportunity to recommend more of your products that can help them and increase sales is another advantage of providing a free consultation. Additionally, the buyer will feel a stronger connection to your brand after leaving.
Next Level: For beauty experts who want to reach their audiences online, this is a terrific technique. #socialdistancinganyone?
4. POINTS PROGRAMS
A marketing tactic that rewards devoted consumers who frequently interact with a business is a customer loyalty programme or rewards programme.
The basis of the points system is the idea that the more you spend, the more points you will receive in return.
Each time a consumer makes a purchase, they receive points based on the amount they paid, which they can utilise to obtain special benefits.
With Clique, Kopari’s rewards programme that uses the Swell Rewards platform to provide exclusive discounts on their items, they have built a devoted consumer base. These are the rewards they receive for making a minimum number of purchases each month, for reviewing their goods, and for following them on social media.
Additionally, Brooklinen features a fantastic two-tier rewards scheme. Customers can join their Platinum VIP club, which offers free gifts, early access to sales, and free shipping, after spending $500.
The benefit of point programmes is that you may easily alter a version to suit your needs. They encourage customers of Mented Cosmetics to follow their social media pages and place orders in order to earn points using the Smile platform.
In order to provide exclusive experiences to their clients, such as being product testers for new goods and receiving exclusive early access to discounts, Glow Beauty offers their own reward system known as the Glow Miles Program.