If you’re a boutique owner looking to boost your sales and encourage more purchases FAST, running a promotion might be a good place to start. (And the holiday season is the perfect time to do that!)
But here’s the thing – there’s a whole lot more that goes into running a successful promotion than just slapping a 10% off discount on everything and calling it good. To run a promotion that drives revenue, attracts new customers, and encourages return purchases, you’ve got to be really thoughtful about the entire process.
Here are a few awesome (and easy!) tips for running a successful promotion this holiday season.
Make a goal
Before you start discounting everything left and right, figure out what you want to accomplish with this next promotion. Do you want to reach new customers? Encourage existing customers to buy more? Get rid of old inventory? Promote one specific product? Setting a goal will help you decide which type of promotion to run.
Set the terms
Decide what type of discount you’re going to offer. Are you going to give a percentage-based discount? Offer free shipping? A buy-one-get-one deal? A discount on their next purchase? A free gift with their order?
Once you’ve decided on the type of promotion you’ll run, set a clear limit on when the promotion will start and how long it will run. Having a clear end date helps create urgency and encourages people to act now.
You’ll also have to decide what a customer has to do to get the reduced price. Do they have to sign up for your mailing list to get the promo code sent to them? Spend $50+? Buy at least 3 items? Make sure you’re clear on all of the details before launching the promotion.
Keep it simple
The best promotions are straightforward & easy to spread the word about. 10% off everything. Buy one pair of jeans, get one free. Free bracelet with every purchase. Don’t make things more complicated than they have to be!
Use the element of surprise
There are loads of benefits to running promotions, but be careful. If you’re too consistent with the promotions you run, your customers might start waiting for your next sale to make a purchase. Rather than running a different sale every Thursday, or a huge midseason 30% off sale the same day every year, run a few flash sales with little or no notice. It’ll encourage people to buy right then without discouraging people from buying at full price before or after the sale.
Get the word out
It doesn’t matter how great of a deal you’re offering if nobody knows about it! Spread the word about your promotion across all your channels, including social, email, paid ads, your store window, your website homepage, etc. (Especially if it’s only running for a really short time!)
Make sure your promotions are still profitable
Discounting certain items means you’ll take a small cut into your profits, but if you ultimately drive a larger volume of sales and reach new customers, it can totally be worth it. Just make sure you don’t run a promotion that causes you to LOSE money!