Everyone loves a good promotion. How could you not love items on sale or a great 2 for 1 deal? Getting something for free or at a discount always gives you a satisfying feeling.
Working on the other side of promotions can be a fun and challenging aspect for many businesses. With so many options out there, it can be tough to choose one that will give you the best ROI.
If you’re looking to build up and grow your business, we have some fantastic promotional ideas that will help you retain old customers and attract new ones. Let’s get started!
A Referral Program
Word-of-mouth really is the best form of marketing and what better way to capitalize on that than by offering a referral program?
High customer retention should always be one of your main goals, as it’s not only cheaper than customer acquisition but it’s also an effective way to build your brand. But if you want to combine the two, a referral program is the best way to do so.
Offer a discount for your existing customer who brings in three new customers and a small discount for those being referred. It’s a way to increase customer loyalty and expand your business.
Flash Sales
Flash sales aren’t anything new. Those As Seen on TV commercials are always encouraging you to call within the next 20 minutes in order to receive a special offer.
These kinds of sales can help promote a sense of urgency across all your marketing channels, letting consumers know the amount of time they have left.
Flash sales shouldn’t be what you rely on solely, lest you want to be seen as a temporary solution instead of a long-term one but they can help remind people of special offers.
A Loyalty Program
We can consider a loyalty program a cousin to the referral program with the main difference being they are 100% focused on customer retention.
Make your program a digital one, so people don’t have to carry another card in their wallet or purse. Think of it as a digital version of a frozen yogurt punch card. Customers want to know they’re being appreciated and respected; a loyalty program is one of the best ways for that.
Digital Coupons
This kind of promotion should be run hand-in-hand with your analytics department. You need to be examining what products your customers are looking at and what they’re buying.
That way, you can offer coupons or special discounts based on their purchase history. This is going to encourage them to return to your store with their special offer.
Look at using email marketing or push notifications to capitalize on customer behavior and to make sure your customers see these special offers.
Social Media Giveaways
Social media is one of the most powerful marketing tools, based on its potential reach and cost-effectiveness. In order to make sure you’re putting your business and products in front of as many eyes as possible, it always helps to run some kind of giveaway.
You can be creative with your giveaways, like having people share your latest content or answer a question about a product. Send them some kind of goodie bag or a coupon if they win. If you have a larger audience, do a giant giveaway to 100 people if possible.
Free Trials
Whoever says they don’t love free things are liars! Everyone loves free stuff. It’s also a fantastic promotional idea that can turn passersbys into actual customers.
Free trials can be sticky though, as they’re not always going to turn into paying customers. Make sure you’re monitoring this promotion carefully, as it may end up doing more harm than good.
Offer Regular Promotions
Have you ever gone to buy an item and then back out at the last minute because of shipping costs? Free shipping can be a powerful promotion tool that hardly costs anything to promote.
Have a regular promotion on your website, such as everyone that spends $100 is qualified for free shipping or they get a 10% coupon for their next purchase. Offering a little gift at the end of the transactional process is a great way to encourage more purchases and keep customers around.