Almost every business in the world offers sales promotions. There’s no escaping them. But who would want to? Sales promotions are an excellent way to drive incremental sales on new products, or even on products that you want to move at a certain time of year when they typically sell slowly. Sales promotions give your clients/customers a tangible answer to the question “what’s in it for me?” But for your company, they offer much greater benefits.
What can sales promotions do to help you increase sales?
- Give your clients more of a reason to repeat shop with you
- Enhance your selling capabilities and establish long-lasting relationships with your customers
- Help you remain ahead of your competition
- Encourage your clients/customers to try new products and/or services
- Excite your wholesalers and distributors
- Enhance your brand value
- Refocus your customer’s attention away from price
How do you run successful sales promotions?
These are wonderful benefits, but how do you start and manage your own sales promotion? First, you must answer some important questions:
- What is your objective?
- What are the measurable goals you hope to achieve?
- Who is your target demographic?
- What behaviors do you want to influence?
Answering these questions will help you plan and execute your sales promotion. Next, take your goals and objectives and turn them into an actionable idea. Sit down with the stakeholders of the sales promotion, and then lay out each concept and what is involved. This is a great time to consider budgets, logistics, and legalities. Lay it all out on the table and get all the nitty-gritty detail work out of the way because next up is marketing and launching your promotion.
Here at Extu, we believe a B2B customer loyalty program or a sales incentive program are two of the best ways to launch sales promotions either to your clients or through your salespeople. A B2B customer loyalty program allows you to launch promotions that reward your customers for buying the products or services you want them to buy, like a new release or a clearance item you’re trying to clear out of your warehouse. A sales incentive program allows you to incent your salespeople to sell these specifically targeted products and services. You can easily motivate both sides of the coin.
As it just so happens, we happen to specialize in exactly these types of sales incentive programs and promotions. We’ve been building them for over 35 years and we love consulting and partnering with businesses to help them achieve the success and increased revenue they desire. If you’d like to chat about your options or just want to know more about increasing your sales, call us today at 1-866-567-7432 or click here to fill out a contact form.