How Businesses Can Use Promo Codes to Boost Sales
Most shoppers want to feel that they get more for less. It makes them feel good about their negotiating skills. Reports from the market show that people who receive coupons shop more than they had anticipated. There is an excitement that comes with receiving promotion codes, and it’s for you to take advantage of as the marketer. This article looks at how businesses can boost their sales through the use of promotion codes.
Choose a Perfect Timing and Season
One of the main advantages of promo codes is their versatility. There are numerous seasons during the year that you can run a promo. You can have a promo in the low season and during the high season as well. Different products experience different low seasons at other times. For example, your high seasons are mainly during the summer holidays and the festivities if you are travel agents.
You can offer discounts on the low seasons to hook the ones traveling, and you can offer exciting freebies in the high seasons to beat your competition. The best way is t find out your fast-moving products then use them to entice your customers, both new and existing.
Use the Fast-Movers to Sell the Slow-Movers
In most cases, you’ll find some of your products and services moves much faster than others. This is not to say that they are inferior. One of the best ways to push the sales for the slow-moving ones is to offer it. For instance, you can give a freebie like buy the slow-moving product to get the fast-moving one for free.
However, when doing freebies, ensure that you keep track and aware of your profit margins. It would be disheartening to count losses at the end of the promo. Giving freebies on the slow-moving product is also a great way of advertising, and over time the slow-moving product may level up to your other products.
Have Time Limits on the Offers
No shopper likes missing out on a discount, and putting a sale deadline plays with customers’ psychology pushing them to buy. You can put stickers like offer valid for today only or while stock lasts. This kind of marketing tricks drives the customers to make orders they did not intend not to miss. And as you impose a time limit, ensure you choose wisely the offer to give. You may be surprised that it turns out to be the most significant determinant of your marketing campaign
. As a marketer, you should be on top of your game in identifying what your customers prefer over what. With this information, you can kick start your promos; for instance, you can place a discount on the shipping fee on the favorite product or a free shipping fee on the least popular product. This way, you entice the customer to buy and beat the competition and use it to market and push sales on all your products.