Top Promotion Ideas for Black Friday and Cyber Monday
Profit margins and store traffic are the main sales attractions for businesses. However, successful sales translate into a lot more for business productivity than profits and traffic. You see, successful sales shed light on how creatively you design your offers and how you pitch deals to your potential customers.
Let's look at some ingenious and lesser known ways in which your business can design special sales.
- The holiday season is all about giving gifts to loved ones. While social distancing measures will minimize celebrations worldwide, loved ones will still try to reach out through surprise Santa gifts.
You can lure new and existing customers with holiday presents upsells, such as free wrapping services, offering a targeted delivery date, or personalized messages and cards.
- Customers come seeking value, and you can give them that through bundle deals. In doing so, you increase your business's average order value because it is essential to keep profits looking healthy.
Improve the bundles with surprise goodies (your best products) at exclusive discounts for those who shop more. Imagine how neatly you'll clean your underperformance inventory with this trick too.
- Improvise your offers with a gift card upon a specific benchmark of purchase. Customers can only redeem gift cards in future purchases; thus, it is a winning strategy. You could also add a gift card with particular, high-profile products as an incentive for customers to purchase.
You see, with gift cards, you make an existing customer return for more purchases or a new one if an individual gave the gift card to another.
- Keeping the excitement and momentum alive throughout your sales period takes work. You can prove your competence in this part of the BFCM campaign with exclusive one-day sales on superior products.
Let's say the sale will last up to seven days, so you curate a 1-day sale to highlight specific products each day. You will engage your customers while drawing attention to several product categories. Limited time offers are fascinating, you know.
- Gamification is also a great way to draw in new customers and engage them. You can opt for gamification in various ways, and when customers "play to win," you reward them with special deals.
- Every store loves to maintain elite status with the help of their luxury products. And rightfully so, because it helps you keep a high-profile reputation in the industry. So, it is only right why you may not want to put your luxury goods on discounts even if BFCM is the most happening sale time of the year.
Your business can not slash the prices of your premium goods but offer gifts with each purchase of those goods. You drive profits this way without compromising your luxury appeal. Now the gift could be a low-cost product, or you could offer a high-end product on a minimum spends.
BFCM is the most socially sought sale-time of the year. It is also the peak time for businesses to draw in potential customers, drive profits margins higher, and highlight the products they seek attention. Of course, all of this is only possible with strategic planning, and our tips will surely help you with that.