Three Steps to Effective Sales Promotions
Three Steps to Effective Sales Promotions
Get customers out of a holding pattern with a top-notch campaign.
BY Barbara Findlay Schenck | FROM Business on Main| January 31, 2010|
0 Comments |
Getting customers to plunk down cash or credit cards remains a painfully slow process in this struggling economy. And that's precisely why it's important--and always will be--to lure potential buyers with promotions. In fact, coming up with attractive promotions has become a bigger deal than ever.
When done correctly, promotions get customers out of a holding pattern by giving them an incentive to take action before a limited-time offer expires.
Here's what you need to do:
1. Target your effort
Promotions can spur purchases by established customers, reel in new customers, draw customers from competitors, get current customers to buy differently, and stimulate business during slow periods. But rarely can one promotion accomplish all of those objectives at once. As a result, you must decide which of the following is most important so that you can target your effort:
Do you want customers to purchase more frequently, buy in greater volume, or be attracted to new or different offerings?
Do you want to lure new customers into your business?
Do you want lapsed customers to give your business another try?
Do you want to boost business during slow hours, weekdays or particular seasons?
After carefully and thoughtfully defining the audience and the change you want your promotion to inspire, ask yourself this question: If you offer a time-limited incentive, is it likely that the customers you've targeted will respond? If so, continue to the next step.
2. Plan your incentive
A well-thought-out, properly targeted promotion prompts customers to take action by offering one of these incentives:
Price savings, including discounts, coupons or added value offers
Samples or trial offers to provide a low-risk way to try new products or services
Events or experiences to generate crowds,
Get customers out of a holding pattern with a top-notch campaign.
BY Barbara Findlay Schenck | FROM Business on Main| January 31, 2010|
0 Comments |
Getting customers to plunk down cash or credit cards remains a painfully slow process in this struggling economy. And that's precisely why it's important--and always will be--to lure potential buyers with promotions. In fact, coming up with attractive promotions has become a bigger deal than ever.
When done correctly, promotions get customers out of a holding pattern by giving them an incentive to take action before a limited-time offer expires.
Here's what you need to do:
1. Target your effort
Promotions can spur purchases by established customers, reel in new customers, draw customers from competitors, get current customers to buy differently, and stimulate business during slow periods. But rarely can one promotion accomplish all of those objectives at once. As a result, you must decide which of the following is most important so that you can target your effort:
Do you want customers to purchase more frequently, buy in greater volume, or be attracted to new or different offerings?
Do you want to lure new customers into your business?
Do you want lapsed customers to give your business another try?
Do you want to boost business during slow hours, weekdays or particular seasons?
After carefully and thoughtfully defining the audience and the change you want your promotion to inspire, ask yourself this question: If you offer a time-limited incentive, is it likely that the customers you've targeted will respond? If so, continue to the next step.
2. Plan your incentive
A well-thought-out, properly targeted promotion prompts customers to take action by offering one of these incentives:
Price savings, including discounts, coupons or added value offers
Samples or trial offers to provide a low-risk way to try new products or services
Events or experiences to generate crowds,