Many business owners may think that having a festive promotion or giving out discounts will reduce profits. This only happens if you’re doing it wrong. Promotions and discounts held during the festive season are the most profitable to your business if you are doing it right.
You might think that throwing in a 40-50% discount might draw more attention to your customers, but you are losing your profit instead. There are other ways to increase your profit by having a festive promotion, and we are here to share a few ideas with you.
Collaborate With Influencers
Partnering up with influencers will help to build awareness of your brand and promote trust as well. With the right influencer and if done right, influencer marketing can drive abundant sales to your business.
Before engaging an influencer, find out what is the focus content of the influencer. There are thousands of influencers out there for you to choose from, however, you need to know the right one for a successful collaboration. If you own a clothing brand, partnering up with a fashion blogger or influencer would be fitting. Their followers are the target audience and customers you are looking for.
You would have to do more than just asking the influencer to wear something from your brand and post a picture. Create a coupon code that is specifically for the influencer’s followers. This will also help get extra attention from their followers. It does not have to be a big discount as you can just start with a 10-15% discount for first-time customers. Also, on the backend, you get to measure the profits brought in by that specific influencer with that dedicated coupon code.
Advent Calendar Sales
Since Christmas and New Year is just around the corner, and also the most anticipated and celebrated holiday of all, you can break down your deals daily. You can drive more daily traffic to your website by giving out different deals every day. Curate different festive promotions for each day such as markdown discounts, buy one free one, lower prices deals, and so forth.
This will get customers to visit your website daily and the chances of them purchasing is likely high because it’s a deal they do not want to miss out on.
A Free Gift for The Holiday Season
Your customers have been good and nice this year, so why not play Santa and throw in a small gift for their purchase? Free gifts are typically a low-cost item that could be sitting in your inventory for the longest time and it’s the best way to get it out. You can also offer a “limited edition” free gift with a minimum spent, which will look exclusive to customers who are spending more.
This also makes customers want to spend a little more to hit that minimum spent, just to get the exclusive free gift offered.
Festive Bundled Collections
Most of the customers are now doing their Christmas shopping and they would appreciate some ideas. Curate a bundle kit with relevant items that will look great as a gift. Bundled items also give the impression that the items are all sold at a lower price.
That way, customers would also be introduced to your other items and may make a repeat order in the future too. Also, the recipient of the bundled gift will be introduced to your brand and hence, new customers!
Mystery bundles are becoming quite popular recently. Similar to Bundled Collections, Mystery Bundles do not give out any idea of the items in the bundles. You can give out hints to your customers to entice them and increase their curiosity to find out what’s in the Mystery Bundle. You can heighten their sense of urgency and anticipation by revealing that the price of the Mystery Bundle is discounted heavily. Customers would not want to miss out on an offer this great even if they don’t have any idea what is in that box.
Strengthen your brand name and purpose by participating in charities. Most customers are genuinely generous and charitable so this will actually draw their attention while shopping. Affiliate with a charity campaign to help contribute to their donations with your website traffic. There are so many ways you can help to give back to the charity campaign.
It doesn’t have to be a lot, it can be as little as donating RM1 to the charity. You can add that option at the checkout page where customers can opt to donate along with their checkout.
While it seems that all these are easy to follow through, there are some things you have to keep in mind and take into consideration. What are your daily goals and overall average revenue goals from this festive promotion? How much do you need to invest in advertising? How much traffic do you need to reach your targetted goal? Where will the traffic be coming from?
These all may sound like complicated and intricate things to worry about but do not worry as Weave Asia would be able to guide you on this. At Weave Asia, we will be able to provide you with detailed information and results so you don’t have to fret about them. Want to start on your festive promotion now? Feel free to contact us via phone at +60 088-718 418 or email us at email@example.com.
Check out our other tips and tricks to drive more traffic and sales to your website.