An entrepreneur looking for sales promotion examples? Promotions are what brings your product close to your buyers, and for most of the businesses, promotions are the only way to do this. So to keep the stream running, you need an idea about the choice of the promotional means and how to make them work. Well! Going for the right promotional strategy for a business can be a task tougher than you can anticipate and without the right kind of sales promotion examples, the path becomes even rougher and rougher by the time. That’s why we couldn’t sit still and had to write this article to help you get through this problem by providing some examples, which will surely help you achieve what you want to achieve.
Sales Promotion Examples
Providing free samples of a product that has recently stepped out in the market, is quite an effective way to get the attention of customers towards that product. There are many ways to put this strategy in its real life for the cause of your brand. For example, if a restaurant is planning to introduce a new dessert in its menus, then it can start it up by providing it free of cost with the purchase of a meal.
This strategy works best for the food products. And not just this, if a company has a new beauty product like facial products or perfumes or lotions, upon its sleeves, it can let the people try it for free before they buy the product so that there’s less true satisfaction from the customers. Such kinds of sales promotion examples encourage people to buy a particular product that they might have considered before this.
Generally targeted at getting the attention of customers towards the brand itself, rather than a particular product, the strategy of giving out free gifts provides a point of huge potential for the brand to progress. Even though it involves some costs to go with this one, its amazing ability to overwhelm the hesitation of the customers for starting up with a new brand can surely overcome the costs.
When it comes to sales promotion examples using such strategy, then the first thing that comes to my mind is “Chik-Fil-A” and its offer of free chicken sandwiches for a whole year to its first 100 customers. Sounds amazing? Well! Yes, as a customer, it surely does but for businesses, the results that follow such offers are more amazing even than these. Just like this, Massage Envy takes advantage of the services that it provides and offers a free massage for one hour after every purchase of a gift card worth $150.
Everyone likes discounted prices, no matter, whether these are for that new range of tee-shirts which has revolutionized the whole market or a new piece of software that works to make the lives of its customers as simple, sweet and swift as a piece of cake. That’s what makes price discounts to be one of the best companions of any business whether it’s new or old, since it can be run for any type of campaign featuring any type of product. Moreover, the environment gets even more fired up when Black Friday approaches, since, in those days, the discount deals get even more amazing.
Buy One Get One Free Offer
Also known by the name of “self-liquidating” promotions, Buy One Get One Free offers are meant to achieve multiple purposes at hand like clearing up the old stock, gaining more sales in a particular period of time, maintaining long-term relationships with customers or keeping the business up and running even during the slow business seasons. In other words, they let the business focus on increasing revenues while setting up different objectives each time and then letting it progress even further by achieving them.
As of sales promotions examples, think of a business that creates bread loafs at the rate of 10 cents each. When it comes to selling, even if it sells it for $2 for 2 pieces, it’s still getting plenty of what it might get without a promotion during the times when business starts declining. Furthermore, the same concept applies to the services, too like trainers, salons, consultants, spas, fitness studios and much more. For the purpose of gaining more and more customers and strengthening the relationships to a point where no competitor can break it apart, they can set different special promotions like extra classes or training free of cost.
More From Business Study Notes:- Sales Process
Well! Until now, you might have noticed from both of the sales promotion examples above, that even though the objective of these offers can be the same, the costs that you have to pay are different. In the first case, it might not affect you that much since it just involves some extra material or money, but in later one, the cost is quite adverse. Since services ask for time and in the cover of such offers, it’s time that ultimately gets away from your hands.
Joint promotions are quite an effective way to set your steps in larger markets, since it involves the combination of two companies with the outcome as a new company that works for both of the contributing brands. Therefore, it’s just like both of the companies are merging their strengths and weaknesses to bring up a new product that’s better than both. Sony Ericson, for example, is among the best of sales promotion examples.
Moreover, another good point of the strategy is that it can be brought to a different level, such as how to join two brands that are working under the same company. The effectiveness of the process can be enhanced tremendously, if the joining companies know about the working strategy of each other closely, because, in this way, they can help each other in improving their way of working and getting rid of the flaws in it or turning them into strengths, altogether.
Hello everyone! This is Richard Daniels, a full-time passionate researcher & blogger. He holds a Ph.D. degree in Economics. He loves to write about economics, e-commerce, and business-related topics for students to assist them in their studies. That's the sole purpose of Business Study Notes.
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