When you venture into any product or service-based business, you need to explore the various promotional techniques for expansion. The means of online promotions for today’s micro and small business are manifold.
One of the recent surveys revealed that around 65% of millennials prefer to shop online and more than 50% of Gen X order everything through their smartphones. Now, it is the potential of venturing into e-commerce. But, you must be wondering how you can explore the areas of using discounts and promotions. So, let’s explore a few options here in this article and hopefully something may be useful for your business.
Avenues of promotions to amplify the business
- Start with the promotional online campaigns. You can do this by initiating contests, competitions, and giveaways. Make the most of social media platforms like Instagram, Facebook, Twitter, and other e-commerce avenues to venture into the latest marketing tools. Contests are the best ways to capture the attention of the audience, and they even ensure real-time interaction. With the social network, you can highlight new products, launch any service and increase the range of production.
- Flash sales are another interesting trend of e-commerce business. You can either wait for any festive season to launch a flash sale or can combine the stock clearance with occasion sales.
- You can give out free samples to all your new customers. On every first-time registration of customers, you can consider giving them free samples (low range products), or complementary services to the most loyal base of customers. This strategy works best for the FMCG sector, especially when you want to clear the stock before it perishes.
- Automatic re-sale for refill is one of the smartest online promotions for current business. You can create the demand for your customers by generating replenishment triggers and engaging them in continuing the purchase of the products. Sending emails, text reminders, information of new products for a similar range are examples of replenishment triggers.
- Encourage your customers to conduct multiple purchases on a single transaction. Ecommerce is one of the fastest and simplest ways of shopping but, you must constantly persuade your clients to return to the platform; this is possible by offering some interesting deals to entice them back. It will allure customers to return to your online store.
- Limited time discounts are one of the highest-grossing sales tools in the current date. You can offer discount coupons to target customers (loyal or new) and persuade them to buy within the stipulated time. This online marketing trend is ideal for all kinds of seasonal products.
Last but not least, personal recommendations, engaging influencers, and real-time chats are some of the other trends of online promotions these days.
Dynamic pricing, ever-changing economic conditions, and pandemic hitting the world are some significant reasons disrupting the functioning of normal businesses at different levels. This presents both opportunity as well as challenge. All you need is to identify the appropriate procedures so that you can implement them while promoting your venture. Thus, you must gauge the possibilities and comprehend the strategies that are best suitable before planning.