Once upon a time, promotion offers and discounts were a catalyst of worry for business owners. Though it would bring in a lot of customers, the havoc of making and distributing discount coupons, containing the rush in the evenings, dealing with bargaining, etc. for a marginal amount in return was not worth it.
Today, in the Digital World, promotion offers are seen as a gateway to lead generation. With advanced tracking and easy access to customer data, all you have to do is nurture the leads that came for the discount and wait for the magic to happen.
Before moving onto the crux of this blog, I would like to clarify one thing.
Promotion Offers do not always mean a cut on the fixed price. Read it again.
Offers, or let’s call it Promoters, come in various forms and not just as mere discounts. In fact, in the Marketing World, this topic itself stands alone as a significant chapter. Want to know more? Let’s see what we have in store.
“Discount? Not bad.
Wait, only 1 left? Add to cart!”
Don’t get me wrong, discounts are good. But with the growing competition in businesses comes the competition in seasonal discounts as well. Diwali is a feast for regular online shoppers, with so many websites storming in to make their day. When customers are welcomed with so many discounts, the idea of discount itself isreduced to nothing in their minds. What do we do? We go one step further and incorporate an additional strategy that uses psychology to pull their triggers and makes sure you don’t go unnoticed.
Gamification is the act of showing artificial scarcity to up your sales. By putting a limit on your inventory, you lay two intriguing seeds into the minds of your customer. 1. The products are automatically seen as superior and high in demand. 2. They trigger the feeling of fear of missing out, a recurrent emotion that is deeply evident in every person belonging to the social media world.
According to Forbes, Influencer Marketing is growing faster than Digital ads. And that frankly takes me by no surprise.
In the glamourous world of Social Media, Influencers are typically placed on a high throne. There’s something about their picture-perfect lives that leaves our hearts insecure, eyes awestruck and jaws dropping, all at the same time. I don’t know about you but that looks as a cue to me for companies to barge in with their promotion offers.
While looking for an Influencer, you must first make sure that their audience matches with yours. That way, you’re targeting both your customers as well as fresh eyeballs that have the same values and interests as you. Ultimately, it’s a win-win partnership where both parties are offering amazing value to each audience.
Another advantage that comes with this form of Marketing is that you won’t need to waste time building trust. Influencers already have that rapport and a secure relationship with their audience that comes to use during these sales promotion campaigns.
In a nutshell, globalization has created a borderless society. Whereas, Digitization hasamplified its effects.
Today, a tier 2 Indian resident can buy multiple products from the capital of South Korea and a group from London can flaunt off their authentic Indian handicrafts coming from a remote village of West Bengal, seamlessly. It’s a wonderful connection to witness.
The only disadvantage here is the hefty amount that one incurs with its shipping charges. In fact, nowadays, that’s the only thing that customers fear and even abandon their carts for the same reason.
When you exercise free shipping offers from time to time, you build a goodwill based on that itself and attract more customers in the process.
If you want to know how you can implement these methods without losing a penny, check out my book.
Hashtag Marketing, Giveaways, Coupons, there are many more forms of Sales Promotion Offers that we need to get familiar with. Unleash Your Business Online is a book tailor-made for aspiring entrepreneurs who want to set foot in the Digital market. From the what to the how-to, you’re going to have an epic ride hanging around with me for at least 2 days and 500 odd pages straight. See you there!
I am Shubham Bapna, the proud Founder and CEO of Suprstart Ventures, Mumbai’s best digital agency, a Digital Success Coach, and now, an Author. My book, Unleash Your Business Online, is about all things Digital and how you, too, can mount your Legacy online. I’m delighted to let you know that my book is up online and available today. As you can see by the apparent introduction, I live, breathe, and sleep Digital! A phenomenon that took the whole world by storm is my forte, and now, it can be yours too. Follow me through this journey as I guide you along the digital pathway. There’s only one way, and it’s here! Welcome Aboard!