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Mar 10, 2023 · A sales promotion is a short-term marketing strategy that a company can use to persuade people to become customers. Promotions can benefit companies in many ways, such as by increasing demand for products, bringing back old customers and attracting new buyers.
Apr 25, 2020 · Sales Promotion is a marketing discipline that utilizes a variety of incentives techniques to structure sales related programs targeted to consumers/trade/ and or sales level, that generate a specific measurable action or response for a product/ service.
Nov 14, 2023 · Learn what sales promotion is, why businesses use it, and the 12 main types of sales promotions with examples. Find out the pros and cons of sales promotions and how to use them effectively.
- Discounts. Did you know that 41% of online buyers purchase when they see a discount? Discounts make shopping more appealing, making it one of the most appealing types of promotions.
- Coupon or Voucher Code. Coupons and voucher codes are easy ways to encourage purchases. That’s why companies send them via email or social media or include them in your packages.
- Loyalty Program. Out of the many methods of sales promotion, a loyalty program rewards your customers for coming back. Each time they buy, they earn points or rewards.
- BOGO. Amongst the different types of sales promotion in marketing management, BOGO is pretty popular. It stands for “Buy One Get One.” It’s a straightforward deal: buy one item, get another free, or at a lower price.
- Percentage discounts. The percentage off deal (e.g. “20% off” or “50% off”) is one of the most popular — and effective — types of promotions. “Hands-down, the most popular style offer is n% off anything,” says Mike Catania, Chief Technology Officer of PromotionCode.org.
- “xx dollars off” An alternative to “percent-off” deals, this promotion involves discounting items by a flat dollar amount (e.g., $5 off or $20 off). It’s difficult to tell whether this offer is better than percentage discounts, as studies and tests have shown mixed results.
- BOGO. Buy One Get One (BOGO) can be applied in two ways: There’s buy one get one free or buy one get the 2nd item % off. BOGO is typically used to move inventory, so if you’re sitting on a lot of stock that you want to clear out, this promotion could be a good option.
- Multi-buys. Multi-buy promotions (i.e., “2 for the price of 1”) is another good option if you want to clear your inventory. But the success of multi-buys largely depends on the types of products you sell.
Apr 29, 2024 · Sales promotion is a marketing strategy that businesses use to boost sales, create brand awareness, and drive customer loyalty. It involves various techniques and tactics to incentivise customers to make a purchase or take a specific action.
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Learn how to use sales promotions to boost sales, generate leads, introduce new products and more. Explore 12 sales promotion examples and strategies with pros and cons for each type.
