Making a sales promotion, at first, seems like an easy task.
After all, just lower the original price you’ve been practicing and… voilà! The job is done.
It’s… well… reality shows that it’s not exactly like that. Carrying out a sales promotion is more complex than you might think – and this should be made clear right away.
The truth is, no offer makes sense if people just don’t need it.
Yes, it’s an obvious statement to some extent. But you really need to take this into account before creating any kind of action.
The purpose of this article today is to instruct you in a kind of step-by-step way to create your 8-stage sales promotion:
Let’s check it out?
When and why do a sales promotion?
There are many reasons that can make a company to carry out a sales promotion.
Times of sales crisis like the one experienced in many sectors, due to Covid-19, are good examples.
In-stock, idle, dead-end products also encourage offers.
Or, suddenly, take advantage of a good opportunity that arises:
- some competitors raised the price or displeased their customers;
- track 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 objective of the business.
There doesn’t necessarily have to be a problem. The company may simply want to make more cash and understand that being aggressive with an offer makes sense.
New businesses, in order to penetrate their market segmentation, also tend to do promotions to get their first customers.
When is the right time to make a sales promotion?
Reasons, obviously, are not lacking – and they will not be lacking.
But, as you’ll see below, there’s no way to successfully promote sales without satisfying some customer needs.
Making a promotion-focused only on the company’s interests doesn’t work. The customer focus is required.
She needs to promote products or services that really make sense to the targeted audience.
Therefore, they cannot happen all the time: either they become commonplace, or they lose the sense of promotion in themselves.
We talked earlier about reasons to do a sales promotion.
This paragraph goes more or less in this sense but aims to make it clearer when the time is right to take advantage of 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 come up 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 make an efficient sales promotion in 8 steps
The theory seems mastered, right? But when it comes to putting it into practice: how to actually make a sales promotion in your company?
To help you we’ve divided it into 8 steps. The goal is to make clear the steps you need to take to make your offer really make sense.
So that it has adherence, become popular and, above all, bring the results you want.
Let’s check it out:
The first and unavoidable point is: what goals and objectives does your company have when making this offer available?
What are the desired results? Set the amount of money you want at the end of the promotion.
From there, how many X products need to be sold? Or how many subscriptions to a particular plan?
Make everything clear so that you will be able, later on, to measure whether you were successful or not in your action.
The moment to make the promotion is important – and we’ve dedicated a few lines of this article talking about it.
Therefore, in your planning, it needs to be considered. It will all depend on your product or service.
Which “traditional” dates does he fit best? Christmas; New Year; Easter; Mothers Day; Father’s Day; Valentine’s Day…
Black Friday is a good opportunity for those who don’t necessarily fit into any of the above dates.
If you sell MRR, for example, and you know that your competitor sells annuities, maybe the turn of the year is an excellent date for an offer, right?
All types of customers require a specific approach, tailored to them.
So, before you go out announcing a price drop or benefits package, you need to be clear about who your sales promotion is for.
This will guide you in creating strategies for attracting customers: the tone used, the selected words, the colors of your piece, the focus on the speech…
For this reason, it is important to follow the steps of planning your promotion.
Anyone who gets their hands dirty on your marketing team will need to have a very clear briefing on what needs to be done.
Can you imagine how frustrating it is not to have a compliant communication that really “sticks” to your target audience?
Selling to someone who is already your customer costs 5 times less than winning over a new customer.
The cost of acquiring customers, the so-called CAC, is, therefore, something you should consider within the desired profit.
So why not sell to someone who is already your customer? Does the product you have in hand make sense to him?
Or: do you have a better subscription to offer than he currently uses?
Well, then, prioritize these current consumers. Take a more direct approach – there’s no need for a nutrition flow with it.
After all, this 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 most advanced plan.
Okay. It will be one or the other of those. But answer me: what benefits will your target audience have if they accept your offer?
Then you would say: “I’ll offer something better than what he already has, that’s 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 feeling of well-being. Of doing the right thing.
So, if you are solving a problem that your customer has, make this very clear in your communication.
Both in the lead generation speech and 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’s really worth it to follow on your buying journey.
Offering something that’s just “a little” better is a sign that you’re targeting the wrong audience.
Expose the sensations, the feelings the customer will have when saying “yes” to your sales promotion.
How to attract customers to your sales promotion? It is necessary to promote some actions to be able to communicate your offer.
Create email, social media and landing page (LP) pieces using the terms and also the tone that makes the most sense with the persona of the promotion.
Use color psychology to choose the right palette that will make the most 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 nutrition flow that delivers complementary materials and makes the lead feel more confident about the purchase.
If it is 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 activity playbook for the sales routine.
This is even more important because we’re talking about time: your promotion, in theory, won’t last that long, right?
So you need to create conditions for your sales team to be didactic, generate value and have the power of persuasion in every contact with prospects.
It is essential to have great communication skills, 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 step-by-step steps necessary to secure the sale.
How will you know if your promotion is a success or not? You can’t wait for her to finish to find out.
Management needs to take place in real-time. You need to be aware of your stock conversion rates.
That’s why digital transformation is so important. That’s why companies need to have the technology of a marketing automation platform and a CRM.
They give companies real-time data on the performance of all actions: their LP, their posts on social networks, the open and reject rates of their emails…
In sales, you can see the conversion for each step of the funnel, whether your emails, proposals and contracts were opened, your main customer acquisition channels…
Finally, 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 have questions about the article or want to learn more about how technology helps you sell more and better, talk to a consultant.
Enjoy and read two articles that will help you to have better results daily in your company.
The first shares some important sales tactics to use in your business.
The second talks about how to have excellence in serving your customers on a daily basis.