A guest blog by Sarah Orchard – Associate Marketing Consultant at Cornberry
January can be a tough time for many businesses in terms of sales, especially if you are in retail or hospitality. The post-Christmas financial ‘burn-out’ starts to bite as consumers tighten their wallets, as well as their real belts, after the Christmas excesses!
So running a promotion in January can be a good idea to tempt exhausted shoppers and clients to re-visit your business and spend a little.
There are many different types of promotional offers that can be used and they can be targeted at end consumers/clients, staff or your distribution channel – retailers and sales intermediaries. Many businesses immediately resort to price cutting and discounting but there are plenty of other promotional options open to you.
These messages can be particularly effective when used via social media and email marketing – really cost effective ways 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. Encourage incremental spend through multiple purchases
2. Free gift or item (e.g. glass of fizz) with £xx value purchase (spend threshold) or every order
3. Special package or bundle – a collection of products or services at a reduced special price e.g gift pack or set 2 course menu for £10
4. Coupons – redeemable on future purchases. This is ideal to send out with Nov/Dec purchases for January repeat business
5. Free Trial – possibly on a secondary product/service
6. Bonus loyalty points or credits towards redemption on a future purchase or free item
7. Money Refunds (Cashback) – 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 till or checkout if online!
These are just a few of your promotional options – let your imagination run wild!