A sales promotion is a marketing technique that is designed to entice a customer to take a specific action such as make a purchase or request more information. A sales promotion usually occurs for a limited period of time to help create a sense of urgency. Examples of sales promotion can include coupons, free trial periods and discounts, to name a few. Sales promotions offer a number of advantages to the owner of a small business, here are the top 5 reasons as to why you should run a consumer promotion:
- Promotions are viral
Promotions can be launched very quickly and have an immediate impact during slow periods. By incorporating a combination of email lists and social media posts, it’s easy to get the word out about your new promotion. This type of advertising is also less expensive than traditional advertising, but can be just as buzz-worthy if executed properly.
- Contests Empower Your Consumers to do Your Marketing For You
How would you like to have hundreds of your consumers helping to spread the word about your campaign? It is important to have a promotional plan that encompasses multiple marketing channels, but thanks to sharing via social media, contests today enable an amplification of your marketing message that was not previously possible. If your contest includes a sharing component, participants will be inclined to share with friends and family to be eligible.
- Point of Differentiation For Customers
Promotions offer a method by which to differentiate your brand from the competition, especially if they have similar price points. Consumers comparing two similar items or services will be more inclined to choose an item if they feel there is a chance to win something.
- Increasing Customer Traffic
Promotion helps in increasing customer traffic. The more you promote your brand, the more will the customers know about you and your company and the more will they be interested in your products. Promotion can be done even by giving out free samples, they try your product, hopefully enjoy it and ultimately, come to you and make purchases.
- A Winning Customer is a Satisfied Customer
A winning consumer equals a happy consumer for life. Someone who wins a promotion is more likely to remain loyal to the brand, and they’ll spread the word to their friends and family — even if the prize is small, it can still be immensely impactful.