Offer Promos And Discounts More Effectively
21. Use discount/promo offers to introduce new products
New products, especially those that are still unknown and those that still do not have an established market base, will need a lot of boost. One way to introduce such products to customers is to initially offer them with a discount or a promo. The discount and/or promo should only last for a limited time period.
22. Use discount/offers to revive a declining product
The use of discounts and promos are not only effective on new products. Discount and promo offers can also be used to revive a product that is losing sales. By offering a discount, you can encourage customers to buy products that they normally would not buy.
23. Announce sale and promo dates through your online advertisement channels
Your advertisement channel includes your website and your social media pages (Facebook, Twitter). Once your customers realize that you announce sale and promo dates via these channels, they will be moved to regularly check your website and your social media pages. This is good because they will always be exposed to your online announcements. Also, you will get a lot of traffic on your sites.
24. Offer special discounts and promos to old customers
This is one way to get more sales from existing customers. And because you are offering them a discount, you are also making them happy. This is also one way to keep your customers loyal to you.
25. Inform the customer of the free item's value
When giving free items or freebies, it sometimes improves customer satisfaction if your customers know the value of the item that they received for free. Here is an example of a sales pitch that informs the customer of the free item's value: "If you buy a laptop today, you will get a 150 dollar headset for free." By doing this, your customer will get an idea of how much they are getting for free. They will feel more satisfied this way.
26. Use the market value of the free item and not the manufacturer's price
When telling the customer the value of the item that you are giving them for free, you should not use the manufacturer's price. Instead, you should use the current market value (selling price). This is because the manufacturer's price is always less than the selling price. For example, if you can buy a certain brand of headset from its manufacturer at 50 dollars but it current selling price in the market is at 100 dollars, you should use the price of 100 dollars. This is because your customer will feel more satisfied getting a 100 dollar free item than a 50 dollar free item.