Are you curious to know about the effective sales promotion techniques? Sales promotion tools of advertising agencies are vital when it comes to making profit for business. There are some specific strategies that are being used for optimum results. To know more about the best strategies to grow a business via sales promotion, keep reading.
Effective sales promotion techniques involve a lot of methods mixed together such as advertising, personal selling, direct marketing and public relations. Sales promotions make use of both media and non-media methods of communication for a predetermined valid period of time. The goal of the promotion tools of advertising agencies is to nurture consumer demand, stimulate market demand and improve product availability. We have made a list of the best strategies to grow a business when it comes to sales promotions.
- Sampling is the most effective sales promotion technique that advertising companies use. It shows that the business-owner believes in his/ her product and its usefulness. It is the most useful trial producer. It is way better than the method of couponing. If 75% of the population tries your product, you may expect 25% of these testers actually buying the product.
- As a part of promotion tools of advertising agencies, you may slip a coupon to your customers along with the free samples. If there is a coupon included with the free sample, it will result in 20% rise in sales. The sample delivery leads you to hand your customer with a coupon advertisement.
- Once you get out the coupons, make sure that you mention clearly that the buyer is entitled to a free sample as result of it. Do not bury your offer because that will lead to a cut in sales.
- If you want to stretch your sales, couponing is a great way to produce trial as a part of the best strategies to grow a business. A wide body of people (55-60%) would read the coupon and redeem it. Even someone who is not a customer or one who does not need to purchase it, is likely to purchase it this way.
- The best way to attract buyers is to minus one-third the actual amount of the product price as a discount via coupon-redeeming. The higher the discount, the greater are the results but, in order to not fall back on the revenue, a one-third off on the MRP hits the sweet spot.
- The next step is to mail your coupons. Once you are through with your market research, a good way to go is to mail your target customers the coupons. With direct mail, you can reach 95% of customers, unlike magazines or the newspapers, where there is only a scope of 60% reach. Even first-timers are tempted to buy to redeem the coupon via direct mail. It is the most effective sales promotion techniques.
- Use the tiniest possible area when you are putting your coupons out in newspapers. It is the most effective way to get to your customers. People actually look for these coupons in the papers. It has been proven that the size and area of the coupons in the newspapers have no negative impact on the buyers; they would redeem them nevertheless.
- Magazines can serve as promotion tools of advertising agencies when it comes to couponing. Magazine ads are more attractive and demographically precise. You need to instruct your creative team to slip in a coupon alongside the advertisement without ruining its essence.
- If you add another promotion tool alongside your coupon, the sales value will jump to a new height. These tools can include refund offers, free premium offers, etc.
- Free-standing coupon inside newspaper pages is inserted for attracting a grand scale of redemption rates compared to traditional printed ones.
- You can shout out the offers allayed in the coupons boldly and bluntly. A bold ‘save 15%’ goes a long way. It should be the first thing that catches the buyer’s eye. It should have distinctive borders, loud colors and blunt numbers.
- Trade coupons are an effective sales promotion technique. You can provide your local retailer the coupons that need to be distributed. It saves the delivery cost. Put the information about the coupons in your advertisements.
- Discounts are proven to be an effective sales promotion technique. You may put a 15-20% deduction rate. The higher the deduction rate, the more number of triers you would receive for your product.
- It is not essential that you advertise your discount deals as it would not affect the rate of your sale.
Refund offer can prove to be excellent promotion tools of advertising agencies. It can help build up your advertising, packaging and salesmen tactics. They are not really essential for sales but they serve as an additional attraction for an already-interested customer. It improves your salesman’s pitch. Less than 1% of your buyers inquire about the refund policies.
In-store displays can catch attention by contests. Encourage people to send their entries. Sales may spike up to 20-50%. Contests are exciting and stimulating for people. However, these contests will not produce a big mass of new trials.
- When it comes to your retailers, choose a showy premium to impress them as a part of your effective sales promotion technique. This will ensure off-shelf display. Off-shelf displays secure a peak in sales. Your sales will increase to 20-50% then you can focus on the trade.
- Make sure that the premium bears a strong connection to the product and its use. Most premiums these days forget about this aspect.
- Make sure you create your premium with great care when it is both on-page and off-page. People are actually concerned about this aspect.
Effective sales promotion techniques are used in order to lure new customers, to keep old customers interested and to organize immediate sales. They are used to impact product interest, trial or purchase. These activities mentioned above are all done for raising revenue and sales. It is important to receive proper guidance, before implementing these strategies. With the right guidance and direction, they can cause an ocean of change. You can consult an experienced business coach and work under his guidance, to grow your business in the right direction.