Savvy Promotions – Getting the Most Out of your Businesses’ Discounting

Savvy Promotions – Getting the Most Out of your Businesses’ Discounting

Posted on 11/06/2014 by | Comments Off on Savvy Promotions – Getting the Most Out of your Businesses’ Discounting

discounts and promotionsWhenever you see any type of business holding a weekend sale or offering deep discounts on certain products or services, how do you think they decided on what types of products to discount and for how much? As a small-business owner, you’re well aware of the prices you can afford to offer during a sale, but how can running an individual promotion also help your business achieve goals like attracting new customers, rewarding loyal customers and moving bulk amounts of specific products?

In order to achieve these goals through promotions, your small business needs to tailor sales to your audience. Give customers a reason to come back with enticing rewards programs, offer new customers discounts on specific products, appease mega-shoppers with big-ticket item discounts and offer seasonal specials to drive traffic in-store or online. Here are a variety of promotions and sales your small business can run to achieve your individual goals:

Storewide sales

In general, storewide sales are great for repeat customers and clients that are familiar with your products and service offerings. Repeat customers are well-versed about your business and, when informed about a sale or special promotion throughout the store, they’re more inclined to visit. It’s important to keep you current customers informed, those that enjoy their experience with, or at, your place of business will be more than happy to sign-up for your company’s e-newsletter or mailing list. This is a great way to stay in touch with your customers and provide details about upcoming discounts or promotions.

New customer only specials

Hanging a banner, posting a sponsored tweet or creating a Facebook ad campaign to announce a 50 percent off sale to all new customers are ways to draw new traffic to your business. But how can you turn the new traffic into continued business? Giving new customers an opportunity to join your rewards club is a great way to entice them to continue doing business with your company or shopping in your store. For example, offer new customers 25 percent off on their first purchase and 50 percent off after 10 purchases in your store. Each time they see the reward card, they’ll be reminded to stop by your store.

Another option is offering new clients a free one-time consultation while providing exceptional customer service. Examples stretch across multiple industries, small hardware store owners with handy employees can give customers a free diagnosis on a broken mower and provide a proper repair solution, personal trainers can give customers one free workout and restaurant owners can give new customers a “buy one entrée, get the second at half price” coupon to help influence two new customers instead of just one.

Discounts on single big-ticket items

If your small business sells big-ticket items like snowmobiles, high-priced electronics or services, and a vast assortment of other high-end and high-cost products, offering big money discounts on these items helps entice mega-shoppers to your store. As a small-business owner, you understand how much money can be made on the back end of a sale. Back-end sales include maintenance, upkeep and product or service add-ons, and when your customer buys a big-ticket item from your store, it’s likely they’ll return for a number of common back-end sales. Also, when customers are saving on the big-ticket item, they feel more comfortable buying other items in your store for full price.

Seasonal sales/promotions

Seasonal sales are a great way to connect with the consumer. During the summertime, you’ll frequently see stores offering sales on beach toys or towels, helping customers enjoy the beautiful weather while saving a few extra bucks. Boxing Day is another time Canadian businesses offer a plethora of deals and deep discounts to draw customers to their stores during the busy holiday rush.

Another way to urge consumers to visit your store is with aggressive last-second or one-day sales. These can be announced on your company’s social media accounts weeks before or the day of. This is a great way to entice your current customers to follow you on social media and continue checking in with recent updates and news so they don’t miss out on any savings. Personalize your social media pages by giving customers an inside look at your business or store. This allows customers to feel more comfortable with your business and further promotes and extends your brand message.

The Vistaprint blog is in place to inform small-business owners of the latest news, insights and ideas to help propel your small business to the next level and enjoy continued growth.