3 Steps for Making the Most Out of Special Offers

With the holiday shopping season right around the corner, it’s the perfect time to beef up your marketing strategy in order to attract new customers and build loyalty with existing ones. There are a number of effective marketing methods out there, but one sure-fire way to boost business is to incorporate special offers and discounts into your marketing strategy. Whether you’re planning to offer special sale prices for the holidays or reward loyal customers with discounts, it’s important to take a tactical approach in order to make the most out of your promotions.
Here are three steps to ensure your special offers are a success:

Step One: Plan Your Promotion Strategy

Take the time to plan your promotion strategy. There’s nothing worse than a cookie-cutter sale that doesn’t account for customers’ needs or desires. Rather than making generic offers that fall flat, try personalizing promotions. Personalization requires a solid understanding of who your customers are and what they’re looking for. If you have a mobile app, that can be a great resource for gathering insight into what customers’ interests. You can also tap into loyalty program data or sale records to better understand customers. Once you know who your target audience is, it’s time to tailor your offers accordingly —offer discounts on popular items and related products that customers need and want.
In addition, consider creating special promotions for loyalty program members. General deals and discounts are a great way to bring in new customers, but it’s also important to incentivize loyalty and keep current customers coming back. Offering unique deals is a great way to show loyal customers that you care.

Step Two: Promote Special Offers

Promotion is key to a successful sale. Make sure your customers are aware of special offers by taking an omnichannel approach to promotion. Announce and remind customers of sales in stores and online. Nearly 88 percent of consumers research items online prior to purchasing in a physical store and, according to a study by Forrester, more than 50 percent of offline retail sales will be influenced by the web by 2017. Because customers spend so much time researching products online, it’s a great resource for promoting special offers.
It’s also important to promote offers via social channels. Nearly 78 percent of small businesses say they have attracted new customers through social media and it’s a great place to engage with Generation Y and Generation Z customers, who are heavily involved in social networks.
If you send out regular emails or newsletters, make sure to promote upcoming offers there as well.

Step Three: Follow-up and Make Adjustments as Needed

Pay close attention to how your promotions pan out. The best way to create special offers and deals that work is to learn by trial and error. If an offer is particularly successful at driving sales, take the time to record what worked so you can replicate those elements later on and, if an offer didn’t bring in the results you had hoped, consider what went wrong. It’s unlikely that you’ll be able to build the perfect strategy over night, but with due-diligence you’ll be to improve and evolve your strategy so that each special offer is better than the last.
What has your store done to ensure the success of special offers? Leave us a comment and let us know!
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