We come to the end of our sales boosting series and we are flying high with excitement! It could be the hot air balloon theme getting in our heads, or our love of bourbon that we professed in part 1 ;) … but no, it’s definitely the sheer amount of good ideas we have for you in today’s sales boosting blog. We first covered the art of advertising by bringing value to your customer (in part 1) and then uncovered the magic of community and how to leverage connections to generate interest and ultimately, sales (in part 2). In part 3, we unleash oodles of ideas to entice customers to buy from you and to buy now. The age-old tactic of shouting “Last Call!” works for a reason, and we’ve all been programmed to tune into these common labels that signal us to act immediately.
Clearance, Discounts, Everything must go!
Sales, Savings, and Everything BOGO!
Ok, not necessarily Pulitzer prize rhyming skills, but the fact that we poured our creative souls into it must count for something. The point is, nothing speaks to your subconscious buying mind with more authority than a juicy sale that you just can’t resist. We called this blog the Finale for a reason and therefore made sure that it came jam-packed with the same kind of sensational content that you would expect from the semi-finals in your favorite season of The Great British Baking Show. So, without further ado, here are some of the obvious and the not-so-obvious ways to get creative with your promotions and offers.
‘Sales’ That Generate Sales:
- 3 words… “Limited Time Offer!” - create a sense of urgency because FOMO (fear of missing out) is real and customers don’t want to lose out on a good deal.
- Tiered pricing can be a very subtle but effective way to upsell. Offer the lowest level of service at an attractive rate and provide valuable add-ons that make the upgrade a no-brainer.
- Product bundling and combo-discounts is another great upselling technique and promotes the sense of convenience or exclusive savings.
- Speaking of upselling… offer discounted upgrades rather than price cuts.
- Some of the usual suspects: BOGO (buy one get one), holiday promotions, early payment discounts, cash discounts, loyalty discounts, referral discounts, and coupons.
- Pay attention to lulls (… when the sounds of crickets are deafening) - offer discounts way in advance of your less popular events or times and build trust with customers by reminding them often.
- Giving is receiving … [and the crowd sways their lighters in unity]. Consider giveaways because people love free stuff!
- Partner up with local events to giveaway branded swag.
- Offer free trials or demonstrations so that customers have a sense of guarantee before buying.
- Gift certificates make customers feel good about giving your product to the people they love.
- In-store selfie-contests invite people to visit you in person.
- Facebook check-in contests encourage customers to recommend you publically.
- Hashtag or Share contests inspire customers to promote you or good causes you are passionate about.
- Have a game plan – create a promotional calendar around significant events throughout the year:
- Use major holidays as the basic outline of your promotional schedule – some stores are even creating brand awareness by closing on Black Friday to promote being active… food for thought!
- Use Quirky holidays like National Puppy Day or business holidays like Small Business Saturday to build campaigns around.
- Go out with a bang by having an End-of-Season sale.
- Ninja pricing strategies:
- Research your competitors and don’t assume that you have to be the cheapest option. A higher price carries a perception of higher value. You can ask for more when your product is better.
- Use labels like “most popular” for the product you want to sell most, especially when you offer products and services that people have a hard time deciding between.
- Physically display products and services so that they appear discounted by advertising them next to the higher priced items.
- Price the middle option optimally (for example: “small, medium, large” or “1hr, 3hrs, 6hrs”). People want the middle option because they don’t want too much or too little. Who knew that Goldilocks was a secret sales genius?
- Offer new products (even if it is an existing product with a twist) or offer seasonal products like the infamous pumpkin spice latte!
- A money back guarantee policy might seem counter-intuitive, but with little to no risk it is easier for a customer to buy in the moment.
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