5 sales promotion techniques to boost revenue in retail
Increase your retail sales with these ideas
by Francesca on 28/5/2018
Haven’t we all bought something or the other online? You may be a new player in online selling, but you are definitely not a new buyer. Your own buying experience gives you an idea of what works and what doesn’t. The same applies in retail, simply by observing your own decisions you can conclude thewhat the best practices must comprise. Customer delight is the bridge to customer loyalty. There are many tools for Amazon sellers to grow their business
However, some techniques can be applicable anywhere. So let’s deep dive into some of the sales promotion techniques that both big retailers and established sellers have in common when it comes to attracting the right target audience and keeping them happy:
There are people who are always on the hunt for coupons for almost any purchase under the sun. A great way to onboard such customers is by sending them a coupon via mail every month or fortnight if possible. As a surprise element you could even place them at the point of purchase. This tactic will sure bag you a bunch of discount-hungry customers but for a short while. To ensure they stick around for a considerable period of time, a loyalty program works best. Amazon sellers can configure multiple coupons in Amazon to drive repeat customer purchases.
This one can really set you apart from your competitors. The occasion can be anything – like a yearly anniversary in the industry or the fact that you reached a great customer milestone. Check with your manufacturers how much of the margin you can afford to give up. This generally helps in increasing gross profits for the duration of the sale. What’s important is to be able to sustain the campaign over a decent time period without incurring losses. Using Lightning Deals, Amazon can configure deals for customers that will show on the 'Today's Deals' on Amazon.in
We’ve all heard and given into the “buy one get one free” sales technique. But as a seller this can work for only small or medium ticket items. For those with big ticket items, think about complimentary giveaways, like 3 months worth of detergent with a washing machine or an expert cookbook with an oven. Being one of the most effective sales promotion techniques this one is sure to transform your customers into not just a onetime purchaser but a loyal one.
A big boon for those selling appliances and other gadgets, extended warranty is an incentive that almost instantly clicks with customers. Check with your manufacturer to build on this advantage as no customer wants to go through the trouble of hunting for after-service especially on long term purchases like electronics.
This one may seem like the simplest and cheapest option among all the sales promotion techniques out there
, but don’t underestimate its capability in customer retention. Customers love it when they not only take home a great saving but also a practical recommendation or learning they can talk about in their social circle. That’s your biggest battle won – advertising through word of mouth. So if you sell food products or kitchen appliances include a recipe, for other gadgets give cool tips and tricks to make them work smarter etc. You can even utilise these tips across your social media assets to build a connection with your customers and fan base.
Now that you have equipped yourself with these incredible sales promotion techniques gear up to employ them by registering as an e-seller with Amazon
. Watch revenue pour in as Amazon helps you navigate complex aspects of online selling, such logistics, inventory, shipping, and others.