Make a sales promotion, at first, it seems an easy task.
After all, just lower the original price you’ve been practicing and… voila! The job is done.
It is… well… reality shows that it is not exactly like that. Conducting a sales promotion is more complex than you might think – and it is good that this is clear right now.
The truth is that no offer will make sense if people just don’t need it.
Yes, it is an obvious statement to some extent. But you really need to take this into account before creating any action.
The purpose of this article today is to instruct you in a kind of step by step to create your sales promotion in 8 stages:
Let’s check it out?
When and why to do a sales promotion?
There are many reasons that a company can make a sales promotion.
Moments of sales crisis like the one experienced in many sectors, due to Covid-19, are good examples.
Products in stock, stopped, dead end, also stimulate offers.
Or, suddenly, seize a good opportunity that arises:
- some competitor has raised the price or displeased its customers;
- follow trends that your solution fits;
- adapt to new market needs, etc.
But, the main fact is that a sales promotion exists to achieve some strategic business objective.
There doesn’t necessarily have to be a problem. The company may simply want to make more cash and understands that being aggressive with an offer makes sense.
New businesses, in order to penetrate their market segmentation, also tend to make promotions to get the first customers.
When is the right time to do a sales promotion?
Reasons, of course, are not lacking – nor will they be lacking.
But, as you will see below, there is no way to make a successful sales promotion without meeting any customer needs.
Making a promotion focused only on the interests of the company does not work. Customer focus is mandatory.
It needs to promote products or services that really make sense to the targeted audience.
Therefore, they cannot happen all the time: they either become banal, or they lose the sense of promotion itself.
We talked about reasons for doing a sales promotion earlier.
This paragraph goes more or less in this sense, but it aims to make it clearer when the right time to seize the opportunity.
So, it’s always a good time to make an offer when:
- a new product, service or subscription is launched;
- a competitor is gaining a lot of territory and customers;
- seasonal events arise and have to do with your business;
- there is a special date and you have a product or service that fits, among others.
How to do an efficient sales promotion in 8 steps
The theory seems dominated, right? But when it comes to putting it into practice: how do you really do a sales promotion in your company?
To help you we have divided it into 8 steps. The goal is to make clear the steps you need to take to make your offer really make sense.
For it to have adherence, become popular and, above all, bring the results you want.
Let’s check it out:
1 – Be clear about your goals with sales promotion
The first and inevitable point is: what are the goals and objectives that your company has when making this offer available?
What are the desired results? Set the amount of money you want at the end of the promotion.
From that, how many products X need to be sold? Or how many subscriptions for a particular plan?
Make everything clear for you to be able, later on, to measure whether or not you were successful in your action.
The timing of the promotion is important – and we have already dedicated a few lines of this article to this.
Therefore, in your planning, it needs to be considered. Everything will depend on your product or service.
What “traditional” dates does he fit in best? Christmas; New Year; Easter; Mothers Day; Father’s Day; Valentine’s Day…
Black Friday is a good opportunity for those who do not necessarily fit any of the above dates.
If you sell MRR, for example, and you know that your competitor sells annuities, maybe at the turn of the year it would be an excellent date for an offer, wouldn’t it?
All types of customers require a specific approach, personalized for you.
So, before you go out and announce a drop in prices or benefits package, you need to be clear about who your sales promotion is for.
For this reason it is important to follow the steps in planning your promotion.
Whoever gets their hands on your marketing team needs to have a very clear briefing on what needs to be done.
Can you imagine how frustrating it is not to have an adherent communication, which really “sticks” to your target audience?
Selling to someone who is already your customer costs 5 times less than winning a new consumer.
The cost of acquiring customers, the so-called CAC is, therefore, something that you must consider within the desired profit.
So why not sell to someone who is already your customer? Does the product you have on hand make sense to him?
Or: do you have a better subscription to offer than the one he currently uses?
Well, then, prioritize these current consumers. Take a more direct approach – there is no need for a nutrition flow with it.
After all, that customer already knows you. You already know the competence and what the company is capable of.
Put your cross selling and up selling actions into practice and give these consumers an even more complete experience.
Your goal, of course, is to sell more of product X, service Y or subscriptions to the more advanced plan.
Okay. It will be one or the other. But, answer me: what benefits will your target audience have if they accept your offer?
Then you would say: “I will offer something better than what he already has, there is the benefit”. Okay, but in practice it’s not exactly like that,
You need to communicate a real advantage. Something that makes you feel exclusive, unique and gives you a sense of well-being. To be doing the right thing.
So, if you are solving a problem that your client has, make it clear in your communication.
Both in the speech for lead generation, as in the approach of your SDR team when talking to prospects.
He trusted you to give the data. So it’s time, in the first effective approach, to show that it is really worth it to continue on your buying journey.
Offering something that is just “a little bit better” is a sign that you are targeting the wrong audience.
Expose the sensations, the feelings that the customer will have when saying “yes” to your sales promotion.
How to attract customers for your sales promotion? It is necessary to promote some actions to be able to communicate your offer.
Create pieces of emails, social networks and landing pages (LP) using the terms and also the tone that makes the most sense with the promotion persona.
Use color psychology to choose the right palette that will have the greatest impact.
Put it to run A / B tests and find out which set has the most grip – and invest in them!
Align internal communication to make a good flow of nutrition that delivers complementary materials and that makes the lead feel more confident about the purchase.
If you are someone who is already your customer, activate your customer success team to strengthen this relationship and seek to maximize your experience with the company.
Run a sales training (or several) for your teams to handle the demands of the promotion.
They need to be well educated and have a clear playbook of activities for the sales routine.
So it is necessary to create conditions for your sales team to be didactic, generate value and have the power to persuade each contact with prospects.
It is essential to have a large communication capacity, sharing the real benefits and gains with the product or service offered.
And, of course, your sales process remains normal. The funnel steps will ensure that you do all the necessary steps to ensure the sale.
How will you know that your promotion is a success or not? You can’t wait for it to finish to find out.
They give companies real-time data on the performance of all actions: their LPs, their posts on social networks, the open and rejected rates of their emails…
In sales, you can see the conversion for each step of the funnel, if your emails, proposals and contracts were opened, your main channels for acquiring customers …
Anyway, technology is and will always be indispensable. The best friend for your sales promotion to be a real success.
Only then can your company reap good results: more sales and more customers.
So, how can we help you?
If you are unsure about the article or want to know more about how technology helps you sell more and better, talk to a consultant.
Enjoy and read two articles that will help you get better results every day in your company.
The former shares some important sales tactics to use in your business.
The second, on the other hand, talks about how to excel in customer service on a daily basis.
A hug from CWT, your CRM. #RunCWT