There are many different types of promotional tactics and these can be targeted at end consumers/clients, staff or your distribution channel – retailers and intermediaries. Many businesses immediately resort to price cutting and discounting but there are many other promotional options available to you.
And now with social media and email marketing, you have many cost-effective ways as a small business, to get your message out there for a successful promotion.
My Top 10 promotion ideas are:
1. BOGOF – a buy one, get one free offer
2. Free gift with £xx value purchase or every order
3. Special package – a collection of products or services at a reduced special price e.g gift pack or set 3 course menu for £10
4. Coupons – redeemable on future purchase
5. Free trial
6. Bonus loyalty points or credits towards redemption on a future purchase or free item
7. Money Refunds – purchase with refund of total value or % of spend on proof of purchase
9. Free postage / Delivery – can be very effective at getting over any online purchase cost barriers in relation to postage or delivery charges.
And if you really have to – go on then…
10. Discount / Money Off – a temporary reduction in price e.g 50% off Summer Sale
Don’t forget – if you have a retail shop to focus on your Point of Purchase Displays – retail research has indicated that consumer purchases are significantly influenced by displays in store at the point of purchase.
These are just a few of your promotional options – let your imagination run wild!