End-of-season sales are just about to bombard us all. We hop from Memorial Day to Independence Day to Labor Day Sales like hopscotch. Customers expect retailers to observe these patriotic holidays with scorching hot deals. But a percentage sale isn’t the only value-add to use to influence buying decisions. Let’s explore methods to build the customer relationship through promotional cycles.
One of the most potent psychological triggers in sales promotions is scarcity. When consumers perceive that a product or offer is limited in quantity or time, they’re more likely to take action. These can include things like
Limited-Time Offers
• Visually highlighting low stock levels
• Create exclusive, limited-edition products or bundled deals
Research shows that scarcity-based promotions can increase sales by up to 33%. Incorporate scarcity into your marketing messages, especially around newer products or one-off services. For example, we could create an RSVP sign-up list with limited spots for a cooking class, or send out SMS alerts for low stock on the most recent product release.
Reward the customer and you may end up rewarding the brand with return visits and gain loyalty. Customer retention is one of the most important things you can build on during a sale. Make sure that you:
• Implement a point-based loyalty program
• Offer exclusive discounts to repeat customers
• Provide free gifts with purchase
• Add them to your audience database for future sales or promotions
One of the biggest things you should make sure to do is require email before sale access. It’s a low barrier to entry action, that will help you start to build a long-term relationship with potential customers, even if they don’t pull the trigger on their first visit!
Always be retargeting, especially when you have data on users who converted during your last sale. You can segment these people to target with specific promotions or product launches.
• Leverage cookies to display targeted ads to past website visitors
• Implement email marketing campaigns for cart abandoners
• Create custom audiences on social media platforms based on previous actions
Finally, take a look at different strategies you can try during each sale. There may be a sweet spot for your product or service that is perfectly compelling to your audience. There could also be seasonality as well, taking into consideration the product offering of sales depending on the time of year. Back-to-School is coming up, is there a package or product that speaks to that?
Here are some additional ideas for promo-building throughout the year.
Invite-Only Events
Host special shopping events or product launches that are accessible only to a select group of customers. An exclusive club can be very attractive to some of your most valuable customers.
Early Access
Offer loyal customers or email subscribers early access to new products or sales. This creates a sense of privilege and novelty and can drive immediate sales.
Tiered Loyalty Programs
Implement a tiered loyalty program where higher tiers offer more exclusive benefits. This encourages customers to increase their spending to reach higher levels.
Last Push Sales
People may need one last push, send the people who signed up for your email or sms a “Missed the sale? Use this code” message to drive them back for one more glance.
Rotating Exclusivity
Offer different exclusive deals to different segments of your customer base over time.
Need help dissecting your promotional messaging and fine-tuning your efforts? Pink Jacket would love to help!