5 New Product Promotion Tactics
Favorable sales promotion tactics will assist you in retaining customers and increasing your popularity, whether in person in the real world or online.
Good product promotion is a hallmark of well-managed businesses. In any industry, a company’s ability to generate attractive, innovative, and engaging sales promotions can translate directly into profits.
Coupons, discounts, flash sales, and free samples are found at every turn, whether in the stores or on social media platforms. Sales promotions, regardless of the type of incentive, are an ideal way to boost the revenue of your online business. You’ve almost certainly got a canvas promotional bag or a free T-shirt with a store’s logo on it somewhere in your house!
Sales promotions like those are an excellent marketing strategy if you’re looking for new solutions, want to increase sales of your product or service, and attract new customers. This promotional strategy is a great approach that allows you to increase brand recognition and gain loyal customers. Not only can they increase sales, but they convert potential customers into clients or even fans of your brand.
Good marketing ways help your offers reach customers – and well-chosen e-marketing methods will help you promote your products. Relying on advertising, good SEO, and social media channels can all assist you in publicizing your sales campaigns, help to effectively promote a product, or increase revenue!
In this article, you’ll find five profit-making sales promotion examples and tactics that you can use as inspiration for your next campaign. You’ll learn some sales promotion examples, learn how to apply discounts, build brand loyalty with reviews, and how important is to create awareness of your products!
What are sales promotions?
Sales promotions are marketing strategies used to increase the perceived value of a product or service in order to increase sales. Typically, a sales promotion relies on “added value”, which means providing customers with additional benefits such as discounts, free delivery, or prizes.
We all know that marketing is always a cost, but without good sales promotion, you simply can’t generate sales and revenue. Moreover, marketing efforts can generate significant income even after the product has gained popularity in the market – this means that constant marketing helps you build a loyal customer base. Sales promotion is a constant effort to promote products amount your customer base.
A well-executed marketing strategy will result in attracting new customers, introducing new products, getting rid of excess inventory, and temporarily increasing revenue.
There are two types of sales promotions: consumer-targeted (B2C) and dealer, distributor, or agent-targeted B2B. The type of sales promotion you should focus on depends on the customer loyalty and structure of your business. Many companies focus on both types of promotions.
Flipbooks from Publuu – a perfect marketing strategy?
If you are a marketer or business owner, a free eBook can help you offer content that is highly relevant to your customers or target audience. According to studies, many people will be enticed by a free eBook that you can publish online in exchange for contact information, a newsletter subscription, or receiving an SMS text message to their mobile phone. As long as your eBooks are engaging and interesting, this method of sales promotion generates a lot of added value.
Flipbooks are one of the most effective ways to promote your business. You can use Publuu flipbook creator to publish a PDF book online to promote your brand. Digital flipbooks look great on various devices including smartphones, tablets, and laptops. Moreover, you can add hyperlinks, product galleries, or mp3 music to your document to promote sales thanks to the versatility of the flipbook format.
Publuu’s flipbook example
View more online flipbook examples
Flipbooks are a great promotional tool: for example, you can send potential customers eye-catching documents – online catalogs, newsletters, brochures or free eBooks. Everything is done in a browser, so there is no need for additional applications, and the reader can easily access your promotional content.
Moreover, thanks to advanced analytics, Publuu is able to provide document tracking – you will find out who opens your marketing materials, at what times. You can even see which pages in your PDF files are viewed the most.
With Publuu’s lead generation tools, you can collect data of those customers reading your eBooks. This will allow you to build a database of potential customers and with analytics, you can personalize your emails.
Five best sales promotion strategies!
Discounts and flash sales
When it comes to purchasing decisions, pricing is almost always the most important factor. To encourage customers to choose your products or services, you might provide them with a discount on their purchases. For many marketing specialists, a sales promotion means almost always some form of a discount!
Imagine a consumer looking for a particular item. They don’t know your brand, don’t know your technologies, but they see all sorts of similar competitive products. They all seem comparable – so the customer picks one that’s on sale, believing they made a good choice. Even if you offer free shipping, the customer will still choose the cheapest option.
Online customers are more likely to make a purchase when offered a discount coupon. Discounts as sales promotions can help you grow a client base because many of your customers are first-time buyers, tempted by the lower price. Later on, you’ll be able to reach more of them thanks to establishing a connection and making your brand recognizable. Familiarity is the first step in building brand loyalty. The same is true with B2B sales – they’re often expecting discounts for established buyers.
Flash sales and lifestyle discounts
A great type of discount is flash sales. There are limited-time offers – it’s a great option for businesses that don’t have the ability to quickly change their prices. Customers are motivated to make a purchase because of the short life of such campaigns. During some time on their site, customers might spot an ad for 50% off purchase – only for 1 hour a day! Many online stores employ this method of sales promotion: examples include subscription models like Adobe – they rely on a constant income, but can lower the price for a single month or year.
Lifestyle discounts are a type of sales promotion addressed only to a specific profession, age bracket, or another demographic group. For instance, if you offer professional, specialist software – you might want to give a significant discount for students. Not only does it look good and attract attention, but you raise a new generation of potential specialists who know how to work with your programs.
How big should a discount be?
In practice, anything less than 5% will go unnoticed. However, discounts larger than 20% are often seen as “suspicious” – you should reserve cuts like 25% or even 50% on special holiday campaigns like Black Friday. Sales promotion with large discounts draws attention. Online eCommerce websites can offer reduced prices for customers from specific groups or ones that use early access (testers, supporters, etc.).
This strategy is used to increase sales by both small, local businesses and large corporations. Despite its current popularity, discounting won’t play out. As many successful sales promotion examples show, it is still a big draw for both consumers and wholesalers. You not only clear space in the warehouse for new inventory, but also generate buzz around your brand.
Rely on customer reviews
Encouraging customers to give reviews is a great way to get your customers to do their own marketing for your business. Many shoppers use reviews of existing customers to analyze and research a product before deciding to buy it. That’s why you could rely on existing customers and their reviews in your sales promotion.
People generally trust other users’ opinions or feedback from a reliable source, which can be conveyed through a positive review. As a result, it makes sense to not only encourage people to write reviews but also to promote and reward them – perhaps by offering a discount or access to an ebook. You should display reviews whether you run your own online store or use a website like Amazon.
Discounts and other product promotions can be used to persuade customers to leave a review. If you’ve taken the time to build a community, many people will write a free review and promote a product simply because they like your brand. Your fans are your most loyal customers. You can create a social network page, on Facebook or Twitter, where people can rate your products, exchange memes, and share various types of content.
It is worth encouraging people with the help of gifts. Gadgets are one of the best ways of sales promotion as are free online eBooks like ones you can publish on Publuu. In exchange for a review, customers also can get special discounts on your next product, or even receive a gift. For example, if someone describes your computer game, they will get free DLC! This is a great strategy to attract attention.
Use e-mail newsletters
Many people claim that email marketing can generate over 40 USD in revenue for every $1 spent on it. As you can see, it is still a very effective method of sales promotion. When you send compelling promotional emails to potential customers, they don’t need much convincing to buy from you again and again, which is why you should rely on company newsletters.
To increase conversions via email marketing, you need to write promotional emails that have a high conversion rate. Often, a good promotional email is just that, an engaging email with interesting content. You can involve it in your sales campaigns, as a part of a wider strategy. You can even choose Publuu to illustrate your newsletter using flipbooks.
Promoting upcoming or current offers in your newsletter is a guaranteed approach to convert subscribers who have already expressed interest in your company by signing up for your email list. Sales promotion of your services or goods needs to be evident even in the subject line of your email. Some companies introduce new products, others send tips on using the product – it’s important that your e-mail marketing tactics add value. The customer must receive something that will keep him subscribed to the company newsletter, whether a discount code or info on clearance sales.
Emails used solely to sell goods (instead of communicating with the reader) can discourage newsletter subscribers. Don’t just focus on increasing sales; instead, focus on offering subscribers valuable content and educating them about your product or service. You don’t just email subscribers to generate leads, you need to build the customer base which will support your sales promotion on the Internet.
Add some action with video marketing!
Anyone who is even remotely involved in marketing and sales promotion today understands that video marketing is quickly becoming a necessity in this decade. You can promote sales by using YouTube or Facebook videos to engage with and build your audience.
You can include videos in eBooks from Publuu, emails, any popular blog post, social media posts, or product descriptions. Studies show that video marketing can boost your click-through rates by up to 300 percent. A sales promotion using video materials can build interest and generate leads. Many people hope to create viral content using their videos – if your video ends up being retweeted or reposted, it will help you increase interest and demand for your product.
Video marketing seems like a simple concept: produce and upload videos to boost your sales promotion. As a result, even if a buyer has never heard of a brand before, a professional video can increase their trust by presenting the brand as a professional company.
Creating videos doesn’t have to cost a fortune. All it takes is a good phone camera and a few days of rehearsal and practice, especially if you’re a small start-up. Of course, bigger companies have bigger budgets – if you can afford to hire a professional, definitely do it!
Product promotion – a summary
Marketing strategies rely on increasing the perceived value of your product or service. They usually rely on using offers for sales and other incentives. One great strategy is to use discounts – a sales promotion relies on significant cuts and rebates. Clearance sales can help you tempt more customers and help you get rid of old stock.
Using Publuu flipbooks to market your brand is a smart move that should not be overlooked. Catalogs, newsletters, or free eBooks are all excellent ways to attract the attention of potential clients, and they melt well with other marketing channels. If you want to convince other people to buy your products, you can rely on our interactive flipbooks!