They are irresistible. Sometimes they are a blessing, other times they make your pockets tremble. Your customers love them, and as a seller, they can become your best allies in slow seasons. Learn about the different types of sales promotions that can make your sales take off, increase the traffic of your online store, retain your customers and ensure that your debut product reaches a privileged position in a short time.
In this article we will present several examples of sales promotions so that, in addition to understanding them perfectly, you can be inspired to generate the next promotion that will give an attractive boost to your sales.
What is promotion and how does it work?
A promotion is an incentive —in kind or cost— that can help you in multiple ways in your business; from publicizing and positioning your brand or a launch product, to renewing your stock or helping you close deals in periods with few transactions. Although there can be many reasons to offer these incentives, increasing sales will always be one of the main ones.
It is important to first determine the objective that you want to achieve with each promotion, in order to choose the one that best suits your strategy, the incentives and implementation you will usein addition to broadcast channels to make it known. Let’s see each element one by one to understand the whole package:
Goal
What you hope to get with the promo: more sales, brand recognition, build customer loyalty, create an alliance with a strategic partner or a combination of several objectives. It is the first thing you should consider when starting a promotion strategy.
Incentive and Implementation
That benefit or extra that you are going to offer in your promotion and how you are going to put it into practice. It can be something tangible (such as an additional product, free sample, or surprise gift) or intangible (such as a discount or deferred payments).
Diffusion
This is the way in which you are going to publicize the promotion. It will be through flyers, a search engine display ad campaign, you will use your social networks or you will simply surprise your customers with a gift on their next purchase. The medium is also the message, don’t forget it.
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Types of sales promotions (with examples)
Depending on the type of incentive, how you grant it and how to implement it, there are different types of sales promotions. Now yes, take note and hide your credit cards, because surely some of this will appeal to you:
💲By price
The most popular type of promotion due to its simplicity of implementation. Is typically consists of reducing the retail price of the product —for a certain period of time or permanently— in order to attract the attention of potential buyers, bet on profit by volume or generate traffic in a certain period to rotate inventory (seasonal sales).
The price can receive a percentage reduction (“get a 20% discount”) or a direct reduction of a certain amount (“save 1,000 pesos on the purchase of…”). This type of promotion can be linked to a time period, such as the anniversary of a business, a special sales date (Buen Fin, Hot Sale) or an annual holiday (Christmas, summer).
Example that shakes pockets: El Palacio de Hierro and its sales that reach up to half the price. The favorite promo of your future new look, without a doubt.
🍾🍾🍾By quantity
When the inventory allows it or you have a surplus/remnant of a product that you need to mobilize to renew stock, this is an attractive option for your clientele. Here you do not modify the price as such, but yes you offer a higher proportion of producteither per unit (“pay 1 and get the second free”), for an increase in the net quantity in the presentation/packaging (“get 25% more product when you buy this new presentation”) or simply as a sample (“ with any purchase, get a FREE bottle of oil”).
The implementation will depend on the type of product and how easy it is to put together each “package”, because when it comes to increasing the net quantity, a different package or packaging may be required, which implies a cost (and possible logistics). ) additional. A great advantage of having your Tiendanube is that.
Example that shakes pockets: You pay for two wines or spirits and you get three, courtesy of Julio Regalado, in Soriana. If he made you thirsty, take one for us.
📆By release or special date
In this type of promotion, the element of attraction is tied to a short period of time. This in order to increase the sense of urgency and encourage sales during specific periods (“take advantage of our special Easter price”), or to generate brand recognition supported by a new product (“introductory price of $1,500 to $999 MXN”).
Practically all types of sales promotions that we will mention in this list are valid here, since the focus is on the highlighted period or event during which the promo will be activea fact that makes the opportunity more attractive.
Example that shakes pockets: Blessed are those who took advantage of HBOMAX’s “for life” promo. If they live more than 100 years, it has already paid for itself.
👛For installment payments
If there is a type of promotion that generates controversy, it is just this one. Is paying in installments a promotion? Of course yes! Deferring the total amount of a purchase in months without interest is a great incentive for those who do not want to decapitalize themselves or are simply looking for a more comfortable alternative to pay a high amount.
As the name implies, This promotion divides the price of a product or service or the total of a purchase into fixed payments. (which can be weekly, fortnightly, monthly, etc.). These payments may or may not have an additional finance charge (with interest) (without interest). The existence of these additional charges will depend on the financial institution with which the transaction is covered and the ability of the seller to absorb the commission for this extra, in order to increase the attractiveness of the promotion.
Example that shakes pockets: There is only one thing better than the Sanborns Cat’s Tongues… the Cat’s Tongues for 18 months without interest.
🎁Gifts and Extras
You buy something and receive, at no cost, a gift. This formula must have elicited a lot of smiles (and, most likely, an increase in customer loyalty, too) for one simple reason: who doesn’t love getting something for free? This is precisely the premise of this type of promotion.
And although for the seller it is not something ‘free’, it is an investment that can undoubtedly generate a positive reaction in the buyer. It does not matter whether the gift is obvious (“you receive a Christmas chest with the purchase of $2,000 MXN or more”) or if it is an unknown (“you receive a surprise gift with the purchase of any washing machine”). Do you want to make your buyers happy? At Tiendanube, we have . Try it!
Example that shakes pockets: This Michelin tire shop has a discount and also a surprise gift for you if you dare to buy 4 tires. Hopefully it’s the car.
✅ Coupons, scores and discount cards
These types of promotions seek to extend the relationship between the seller and the buyer and increase the CLV (Customer Lifetime Value) by offering them a future benefit to encourage their return and new purchases. This it is achieved through redeemable or cumulative elements that generate some type of future reward for the client.
There are codes or coupons (“use the code OFFERTA21 on your next purchase to get a free medium pizza”), the accumulated record of points or visits (“accumulate 10 visits in a month and get a totally free hair treatment”) or the discount cards and frequent customers (“for being Cafeloko spoiled, you won a free drink on your next visit”).
Example that shakes pockets: Gather visitors to make that VIPS Club with its lemon ice cream pie cost half.
🏁Activities and dynamics
When you organize a procedure to provide a prize or benefit, which requires the active participation of the buyer beyond the payment of the good or service, you enter the field of this type of promotion. What you hope to achieve with this is that your audience becomes more involved, which can help you generate greater audience attraction, social media interaction or higher sales under the promise of an eye-catching prize.
Here are the (“from 5 to 6 pm we will have prizes for the first 10 who purchase this new gourmet coffee maker”), dynamics on social networks (“follow us on our TikTok account, tag us and get a discount”), raffles and contests (“buying during September guarantees you a ticket so you can win a trip”), or the collection of sets or series (“find the marked labels to participate in a car raffle”).
🚨But attention!🚨 When you organize games, raffles, raffles, the collection of series, or any type of dynamic or contest that involves chance in the participation of the client, . You must do this in order to protect users and ensure that the practices are 100% legal.
Example that shakes pockets: Imagine you win this Petco promo, your furry friend ignores his NFL accessory and destroys your new football. Intercepted!
🤜🤛Multi-brand alliances and combinations
Basically it is two brands for the price of one. When two or more products of different brands are offered within the same commercial deal, we are talking about this type of promo. The idea is to occupy the positioning or recognition of one of the brands to offer a new product, help introduce a new presentation or as a strategy to provide added value to a specific product.
The combinations can occur within the same global brand and between its derivative brands or between sister brands of a corporation (“Happy Cookies give you a packet of Powdered Chocolate Bear Drink”, and both belong to the same global brand). There are also strategic alliances between brands without products in common (“get a double pass to the movies when you buy a family cereal”) and multi-brand offer groups (“participate in the sale and receive the Christmas basket with dozens of products for your home”).
Example that shakes pockets: To get additional content for my video game, I will have to make the tremendous sacrifice of eating a delicious pizza. Pure evil.
💪Mixed sales promotions
Among all types of sales promotions, this It is the one that offers the greatest number of possible options, simply because any combination of the previous ones is valid.. But, if we must group them, it can be as an option to increase the attractiveness during a certain time or period (“per launch, get 2 shirts paying only one and get a surprise gift) or to offer payment options to the customer (“this Week Santa get 15% off or up to 12…
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