8 Most Popular Types of Sales Promotions

How can you be sure whether the promotion of your online store will succeed? Have you researched the market and chosen the most appropriate form of sales promotion for your company? Have you tried several different ways to advertise before finding the most effective one? Whichever path you choose, each one leads to greater visibility of your company. It is true, however, that some are more effective at getting your brand name out there. That’s why we’ve put together a list of the eight most popular sales promotions to help you get started.

1. Discounts

Adding a discount to product prices is certainly the most popular type of promotion. Customers love to negotiate, so it makes sense to offer discounts every now and then. When you decide on the type of discount – that is, whether you choose a reduction in terms of price or percentages – consider what is more sought after by your customers. You should also remember to never go overboard, as offering too big of discounts could lead to a loss of profit in the long run. In addition, make sure you do not offer discounts too often – customers could easily recognize your pattern and wait to make their purchase until discounts are offered.

2. Free shipping and Refunds

According to a survey by Walker Sands, a whopping 80% of consumers would be more tempted to buy on Amazon if it offered free shipping on their orders. 66% would make a purchase if Amazon offered next day delivery, while 64% said they would be more likely to buy if they were offered a free return option. Free delivery and return give the customer a sense of security; in case they wanted to return the product they bought, they would not have to deal with any additional costs.

3. Time-Limited Offers

Flash sales that last only a limited time are a great way to create a sense of urgency in your customers’ minds. Many companies use this strategy as a way to sell more products, especially when they want to get rid of excess inventory. Many people who are already experienced in sales agree that this form of campaign is better accepted than usual. The less time such an offer is available for, the more successful it is, as 50% of purchases happen within the first hour of flash sales.

4. Promotional Gifts

Let’s be honest, just about every one of us loves free products, so giving promotional gifts is a great promotional strategy. Not only does it give potential customers a chance to try out your product, but it often also convinces them to do business with you in the future! If your product isn’t something you can give away, then consider creating useful branded gifts that you can offer with every purchase, such as key rings, pens, magnets, and more. Customers will appreciate the nice gesture and always think of you when they see a gift branded with your logo.

5. Loyalty Points

Rewarding your customers will help you build a solid base of loyal fans, while also convincing more people to shop at your online store. Providing great customer service is also important to the success of your business, and offering a loyalty point system is an important part of it. Loyalty points can be collected by the customer on a virtual card – with each purchase they are rewarded with a certain number of points, which they can use on their next purchase and pay less for selected products. You can also offer customers the option of a loyalty program, where after purchasing a certain number items they receive the next one for free.

6. Virtual Coupons

This is a different way of promoting discounts on your website. Sending virtual coupons to customers who have subscribed to your e-newsletter makes the promotion more exclusive and further convinces customers to visit your online store. Consider sending coupons primarily to loyal customers who have spent more than a certain amount of money when buying from you, and thank them for trusting your brand. You can also send virtual coupons to those website visitors who have had a bad experience – perhaps a nice gesture from you will convince them to give your company another chance!

7. Sweepstakes

The great thing about running sweepstakes is that you gain a lot despite giving away just one (sometimes two or three) product! Sweepstakes are an extremely popular form of promotion, especially on social media. They also not only make your brand recognizable, but every person who chooses to participate becomes a potential future customer. Just participating in the prize draw means that they are interested in your products, so implementing this form of promotion is a great idea – especially for start-up companies.

8. Holiday Promotions

There is a reason why promotions during the holiday season are so successful. Customers, like any of us, always like to spend more on holiday gifts than usual. Therefore, this is a great opportunity to present your brand to a wider audience and consequently sell more products. There is no need to create too many crazy offers, as customers will be tempted by even the smallest of discounts. This is also an ideal time for using creativity in your promotional campaigns and using the holiday theme to sell your products.