Promotions can increase sales by letting people know about your products or services. A promotion can last for a limited time, enticing customers to act quickly or miss out, or they can be longer term. Here are some tips to consider when deciding on deals and promotions.
Offer special deals
One way to get customers to buy your product is to offer special deals. These can include:
- Price markdowns
- Two for the price of one
- Buy one get one free
- Buy one get one half off
- Free samples
- Flash sales
Bundle your products
You can package multiple products or services together for a single price to offer customers a greater value.
Pass out coupons
Coupons are an inexpensive way to promote your business. They can attract new customers, help you sell a specific product, reward current customers and spread the word about your business. They may be email coupons, coupon codes or exclusive invitations.
Offer free shipping
If you sell your products online, consider offering free shipping for purchases over a certain amount to encourage customers to buy more.
Consider online marketplaces
An online marketplace lets sellers post their product for potential buyers to see and purchase. There are many marketplaces available to sell products, so picking the right one to sell on is the first step. Think about factors like the type of product you’re offering, who your target audience is and what sites they shop on for similar products.
Attend or host events
Sell or promote your products or services at industry or local community events to reach more customers. Hosting events to promote your product at your place of business is a great way to meet others in your community and build a following. If you are hosting the event, schedule it at a time that will work well for your target customers. If it’s not within your budget to host an event on your own, consider partnering with other local businesses who have complementary, but not competitive, products or services.