The concept of using a sales promotion strategy to increase sales and revenues is nothing new. Technology and consumer behavior continues to change year after year. However, using a sales promotion is still a highly effective sales and marketing tool. The primary reason is that it works. Consumers are as savvy as ever and want to find the very best deal possible. If they can find that deal at your eCommerce site, they may skip all the additional research and price comparisons and make a purchase from you.
Sales promotions also put your business in the driver's seat when it comes to sales strategy. While some eCommerce sites may wait for conventional market forces, like the holiday gift-giving season, to increase sales, promotions can leverage any time, season, or event to increase sales. They also help with one of the most critical metrics eCommerce businesses measure – conversions. Whether promotions lead directly to a sale or generate leads by collecting customer email addresses, they are proven to draw customers deeper into your sales funnel. Also, sales promotions add a layer of engagement to eCommerce sites. Think back to the days of brick and mortar stores. Salespeople and store associates would often try to engage customers by telling them about special offers and discounts. A well-designed sales promotion can accomplish this same goal, engaging customers, and increasing the chances of them making a purchase.
If you are wondering where to start in developing your own sales promotion, take a look at some of these sales promotion examples. Hopefully, these will inspire you to build your own and experience an increase in sales and revenue.
1. Limited Time Promotion
Marketers have understood for a long time that urgency is a powerful tactic for convincing consumers to purchase now rather than wait. Everything about this sales promotion example screams, "Urgent!" The choice of fonts and colors, all caps and black and white, plus the timer that counts down even the seconds, creates a tangible "fear of missing out," and drives the customer to purchase now.
2. Buy Together and Save
Offering customers a deal when purchasing multiple products is an old sales strategy that is even more effective in the eCommerce age. This is a brilliant example of the concept. By purchasing an additional product, customers get a discount equal to the price of the additional purchase. This speaks to two different types of deal shoppers. Those looking for a discount see it as a simple $20 off. Those looking for something for free see it as a free bike light. For businesses with high margin add-ons, this is a great way to offer customers a lot of added value without much additional expense.
3. Buy 2 Get 3 for Free
There is no limit to the possibilities of multi-purchase deals. Consumers are more likely to complete a purchase if they believe they are getting a great deal. In this case, customers are offered something for free with a "buy one get one free" offer. Then, the site pushes it further with an offer that provides the purchaser even more. There is some clear consumer psychology behind the idea of getting more for free than the original purchase. Not only does this increase the chance of purchase, but it also creates an incentive to purchase even more.
4. Spend X and Get a Free Gift
Another traditional sales promotion example is using a free gift to increase a customer's total purchase. A customer may be tempted to complete a purchase to get the gift or even add additional items or quantities to their cart to hit the threshold. In this case, a customer planning on purchasing eight bottles might add two more to qualify for a free gift.
5. Loyalty Coupons
Sales promotions don't always need to be focused on getting customers to make a first-time purchase. They can also be used to motivate existing customers to make additional purchases and spend more money. Promotions that target return customers and reward their loyalty make it more likely for them to make a purchase on that visit. Even when customers have an ongoing relationship with an eCommerce site, they are still looking for the best deal like everyone else.
6. Free Shipping at a Specific Purchase Level
Free shipping remains a powerful way to encourage purchases. It can also be an incentive to convince customers to spend more on a purchase. Fortunately, thanks to new personalization technology, these offers can be easily based on a customer's location. This sales promotion example takes advantage of this strategy and uses a unique method to encourage customers to add enough to their cart to qualify for free shipping. Notice how the banner at the top of the page changes based on visitor activity. It initially informs the customer about the free shipping offer, then calculates how much more will need to be added to the cart to reach the necessary purchase amount. Finally, it informs the customer when the free shipping level has been reached.
7. Holiday Sales
Sales promotions are a great way to leverage holidays and other events to increase sales. Thanks to website personalization, an eCommerce store can now more directly target holidays that are only celebrated in certain regions. This is a sales promotion example of a site using the occasion of the Independence Day holiday in the United States for a 25% discount. This version of the page will only be seen by customers in the United States, and they will be the only ones eligible for the offer.
8. Cart Abandonment Offer
One of the most powerful sales promotion examples is the cart abandonment offer. These customers have already done some shopping and have apparently found items that they are at least considering purchasing. It is worth doing whatever possible to keep this visitor around to complete their purchase. In this example, the sales promotion is delivered through an exit-intent popup that offers both free shipping and a 10% discount along with a sense of urgency through a countdown timer. Even better, eCommerce sites can customize offers like this to target specific visitors based on cart value. For instance, this 10% off and free shipping offer could be displayed only to visitors with a minimum of $100 in their cart.
These are just a few sales promotion examples that are made possible through website personalization campaigns and targeted website widgets. When you are ready to increase your eCommerce site's conversion rate and revenue through sales promotions, check out how easy it can be with Personizely. Sign up for a free trial and see how easy the Personizely makes it set up your own sales promotion campaign.