If you plan your promotional calendar, this will help you generate a steady income while offering great value to your customers.
Ideally, you can do this a a year in advance, but you can also think about it in 90-day chunks of time, such as adding a promo if sales are slow. When planning your promotions, there are many types to choose from.
Here are 5 popular and effective promotion ideas to inspire you. These are often used for products, but you can do a twist on it to make it work for service-based businesses, too.
Flash Sales
A flash sale is a very short, limited-time offer. It can last just a few days or even a few hours. The idea is to offer a deep discount in a short window of time – and then it’s gone. Flash sales work because they create a sense of scarcity. If you blink, you’ll miss it. This pushes people off the fence and motivates them to buy.
Seasonal and Holiday Sales
Seasonal and holiday sales are promotions that are linked to an annual event or time of year. This includes Valentine’s Day, summertime, or ‘back to school’ sales. These promos are effective because they’re tied to important events in your customers’ lives, making your sale relevant, memorable, and meaningful.
Annual Sales
Another option is to hold a major annual sale. Create a promotional event that your customers will look forward to every year. Annual sales are often used by high-ticket brands or other businesses that rarely offer promotions. Choose a time of year when sales are slow. For example, if you have a dip in sales in January, this is the ideal time to hold your annual promotion. You can also use your annual promo to fill a gap in your calendar, during a quiet time when there isn’t a relevant or exciting holiday to celebrate.
Clearance Sales
Clearance sales allow you to get rid of excess stock or items that aren’t selling. Offer a steep discount to motivate people to buy.
BOGOF
BOGOF stands for “buy one get one free.” Most commonly, BOGOF means that you’re offering two items for the price of one, but it can also refer to product bundles or free upgrades with purchase. The idea is that your customer can buy a product at regular price and get something else in the bargain.
Pair products that people typically buy together, or products that can be used together, and increase the value of the BOGOF offer.
Are you struggling to generate enough income?
How do you put these promo types to work? Analyze your cycle, pick the optimal times of year for your promotions, and then create the right offer for your target audience.
TAKE ACTION: Create a yearly promo calendar & related marketing materials that gets results.
Let’s talk about a promo calendar to get more clients »
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Hello Service-Based Entrepreneur,
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