Coupons / Deals / Sales
Promotion is a marketing technique which is designed to target an emotional response in a customer’s mind and trigger a purchase. It presents perceived value via a discount or a higher value for the money spent. No matter how successful your business is, you should always be looking for new promotion ideas in order to improve your conversion rate, boost your sales and increase your revenue. Ceaselessly being in search of bright promotion ideas is sometimes frustrating but will ultimately pay exceedingly.
Promotions engorge on basic human emotions like trust, greed, love, or fear… Yes, fear of missing out, for example, is a very strong trigger to act. It is no secret that we all want to possess what everyone else does. Tanks to this primitive fear of ours we may act on our instincts if we think that an opportunity is limited. Or most people have bought a gift for their loved ones at least once for reasons such as Mother’s Day, Father’s Day, Valentine’s Day, or Christmas.
What are the key benefits of promotions?
Wouldn’t you desire your customers to feel smarter when they throw your products into their shopping cart? Well, this is exactly what 83% of customers feel if they think they found the best deal.
Increased customer acquisition
You can sweep away many risk factors that might be holding your intended customers back from buying from your shop through irresistible discounts and some other offers. A well-engineered promotion campaign can easily sow the seeds of a long last relationship between newbies and your brand.
Increased customer retention
Speaking of long-lasting relationships, presenting attractive deals to your existing customers may be the best way to thank them for their support and to strengthen their loyalty.
Another very important reason to do promotions is that it helps inventory management and lets you minimize losses that result from some over-stocked products.
Types of Promotions:
There are different classifications defining types of promotional offers, however it would be more convenient to approach this matter with the value offered.
- Percentage-based discounts,
- Real-Value based discounts,
- Free Shipping offers,
- Gift offers, and
- Reward-Based promotions (gift cards or rebates)
are the main types of promotion types depending on the value offered.
This subbranch of marketing is highly sophisticated and requires a certain amount of experience and know-how. An improperly designed promotional campaign will cause more harm than profit. Our marketing team at E-Store Boost consists of experts and experienced professionals in their field. We build strategies, plan campaigns, and do extensive analyzes in order for you to get the most out of your promotions.