"10 Types of Promotions You Can Use To Quickly Boost Your Sales!"
One way to create a steady influx of sales quickly, is to run a special limited-time or limited-quantity promotion. And you don't want to be like some businesses that constantly run SALES... as you want prospects to value your offers and pay full price for them.
However, from time to time you'll want to run the following types of sales which generate goodwill in your niche as well as producing more sales and revenue.
Take a peek...
Coupon Code Discount
This is where you distribute a coupon code that customers can use to get your stuff at a reduced rate. This could be in the form of a percent-off or a dollar-off coupon. Either way, make sure to put an expiration date on the coupon - such as three days - as this will help generate sales by providing some urgency.
You'll also want to dish out these codes for your affiliates to distribute.
Flash Sale!
Here's where you'll have an extremely limited offer, such as one that lasts for 12 hours or perhaps 24 hours. Generally, your audience won't get notified ahead of time that the sale is coming - rather, the first exposure they'll get is the moment the sales goes live.
As such, be sure to promote this sale widely!
Send it to your mailing list, post it on social media, and blog about it. You can even take paid ads out to promote it, especially retargeting ads (where your ads are shown to groups of people who've interacted with your site in the recent past or even visited the specific sales page recently).
Buy One Get One FREE!
This is known as BOGO Free in marketing parlance. And if your offer fits, you can frame it as "buy one, get one free for a friend." A good example of this is if you're selling conference seats. Another time to use it is when you're selling monthly memberships where you can offer a "buy one month, get one free."
Finally, this is a good fit for consumable offers where customers "use up" the item and need to purchase more.
BOGO at a Discount
Instead of offering a buy one, get one free, here you offer the second item at a discount. For example...
"buy one at the regular price, and get the second one for 50% off."
For example... if you sell courses, you can let customers purchase any course in your store and get the second one of equal or lesser value at half off!
Matching Credit Sale
The idea behind this type of sale is to give customers a credit they can use for future purchase.
For example...
If someone purchases a $20 product from you today, they'll get a gift card for $20 they can use on their next purchase.
Launch Sale
If you've got a new product coming down the pike, you can offer a launch special to generate buzz and sales. For example...
You might create an exclusive bonus package only available during launch week, and then put the entire package at a discount to boot.
This type of launch sale works great when you get your affiliates to help you launch, especially if you offer them contests alongside your customer offer.
New Customer Sale
As the name suggest, this sale is aimed at new customers. This is one type of sale you may present on a permanent or semi-permanent basis. The idea is to give new customers a really nice discount on their first purchase - you're essentially giving them a low-risk way to try out your product or services.
For example... "New customers can save 50%... click here to secure your discount."
Customer-Loyalty Sale
This is the one you extend to only your very best customers, such as long-time customers or newer customers who've purchased multiple offers from you.
You can offer a link to an individual product with a special discount, or you can offer a general coupon code where customers can receive discounts on any offer in your sales funnel.
Special Event Sale
These are sales you create around holidays, your business anniversary, or even relevant seasons or other time periods.
For example...
If you're selling "give up smoking" information, you might run a big Black Friday sale which your customers expect. You might also create a special event of the month later in the form of a New Year's Resolution sale since that's the time of the year when many folk decide to stop smokin'. (This particular example works for anything where people make resolutions, such as fitness or weight-loss.)
Another example...
If you're selling travel information, you might kick off a big sale in the spring, right when people are starting to think about their future summer travel plans.
Dime Sale
This is a sale that naturally creates a sense of urgency because the sooner someone purchases the offer, the better deal they'll get. And you can do this in one of two ways...
- Use a script to increase the price every time someone orders. For example, the price might go up a dime, or quarter, 50 cents, a dollar, or more after every sale. The amount depends on the product's retail value, with low-ticket items going up as little as ten cents at a time, whereas high-ticket stuff may go up by $1 or more after every sale until they reach a set amount.
- Increase the price on a daily basis for five to seven days. For example, you might have an offer that starts at $100 and goes up $50 until the price reaches $400.
This is another type of sale where you want to get tons of buzz and wide coverage. You'll want to build anticipation well in advance. And you can generally expect the first day to be the biggest sale day since your offer is at the lowest price.
Simple and Easy.
Conclusion...
And there you have it... you've just learned about 10 types of promotions that generate sales simply and easily. And don't forget...
Be sure to involve your affiliates for even better results!
Hello,
I’ve never used these types of promotion before as I’ve just started to work regularly on my website.
However, I’ll keep this page because it’s full of good examples of promotions I can use when I start selling my own product to my audience.
I believe the coupon type is the one that is mostly used because it’s effective and brings clients to buy more easily.
Hey Angeice!
Cheers for popping in and sharing your thoughts.
It’s clear you’re just kicking off your journey in the online world, so no need to stress about promotions just yet.
However, as you wisely mentioned, it’s a fantastic idea to bookmark this page for future reference.
And as your experience grows, these tips and examples will be an important lifesaver, sparing you from all the head scratchin’ while, saving time, money, and heartache!
Also…
you’re spot-on about coupons being one of the top guns in the promotion game, but remember – t’s all about mixing and matching strategies to keep things spicy.
Thanks again, Angeice.
I’m right here cheering you on every step of the way!
Dedo (Chief MEME Officer)
Thanks for this comprehensive guide, it was very insightful. I was aware of most methods, but it was definitely eye-opening to learn just how much goes into promotion.
I do have a question though: The flash sale method seems very efficient as it imposes a sense of urgency, but I feel like it would only work if you already have a big customer base, it doesn’t seem like a good idea if you’re trying to get people on board for the first time. What do you think?
Hey there Yusuf!
Glad you found the guide insightful! It’s amazing how much there is to discover in the world of PROMOtion, right?
Great question about the flash sale method BTW!
Devil’s in the details and you’re as sharp as a razor on roids.
Listen…
Flash sales can be super efficient for pushing that urgency button, but you’re onto something – they do tend to shine brighter when you’ve got a solid customer base to flash at (No dirty thoughts please)
For the newbies, it might NOT be the best way to get the ball rollin’. But hey, no worries!
There are other brilliant tactics to start attracting neophytes.
Think mouth watering, juicy welcome offers, engaging content, and building that initial buzz to get folk hooked (read some of my earlier posts for clarification)
So, mix and match those strategies, and you’ll have your promotion game on point quicker than a rat up a drain pipe!
Feel free to ask if you’ve got more questions Yusuf!
Always in your corner…
Dedo (Chief MEME Officer)
Thanks for the tips. Simple and easy, just as you mentioned. The simplest things are often the most effective. I have personally never across a dime promotion. Is this type of promotion effective or does it run the risk of customers not buying in if they have left it too late?
Hey Mel!
Thanks for swinging by and dropping that delicious comment!
And know this…
You hit the pumpkin on the head with your point about simplicity – it’s the secret sauce for success.
Now, let’s jump right into the dime promotion idea!
Imagine…
Driving lightning-fast sales and hooking in customers like gang-busters (who doesn’t love a sweet deal, right?). But here’s the golden rule – make sure this promo aligns perfectly with your overall pricing strategy.
Because we don’t want those enchiladas blowing up in your face…
Remember, in the world of business, the name of the game is diversity.
So, don’t stash all your eggs in one basket. Spread the love and your cake will surely rise.
Hope this advice lights up your day, Mel!
Always in your corner…
Dedo (Chief MEME Officer)
P.S. For some reason food seemed to take pride of place in my reply, hmmm… must be hungry!