Sales promotions can take many different shapes, from straightforward price reductions that are open to the public to one-of-a-kind coupon codes that are provided based on the customer’s precise location, given for certain products, and only for a set period of time. You can utilise a variety of promotion tactics, rewards, and restrictions to create virtually endless promotional scenarios. This blog post was created to provide you a broad overview of the different sorts of promotion techniques, rewards, and unique promotion types that are frequently utilised across sectors. It is a very general summary of the different types of promotions you might employ in your marketing plan.
complimentary goods or services
Free goods, free samples of goods, or free services might be offered as rewards. This kind of promotion can assist you in getting rid of surplus inventory (slow-moving, close to expiration, old collections) and allowing customers to try other things from your offer, which may lead to future sales of those items (this is especially true when offering samples).
The Function of Beauty promotion, which gave a free hair mist bundle with the coupon code FREEMIST, which was good for all orders including any hair product, is an example of one such promotion.
Free product or service upgrade
Unit discounts don’t always offer free goods or services; they can also give away upgrades to goods or services. An illustration would be a campaign Evernote did offering a consumer a free premium account for a month on their birthday.
volume reduction
A volume discount is a discount offered on large purchases; for instance, orders over 200 units qualify for a 5% discount. A volume discount may be a nominal or percentage discount. In B2B sales, volume discounts are frequently used to increase client retention and loyalty or as a negotiated clause. Though they can be used on a smaller scale and are less frequent in B2C sales,
Promotions come in a variety of shapes and offer a range of benefits. Finding the best one for your objectives and target audience is a difficult challenge, and finding the perfect strategy will require some investigation and testing. In our Inspirations Library, you may find more than 100 promotion ideas, along with best practises and advice, if you’re seeking for ideas for your next sales promotion. Evolve is an API-first promotion management software that can support all the aforementioned promotion types as well as offer sophisticated personalization and targeting options along with an omnichannel delivery if you’re looking for a promotional tool that will let you run, test, analyse, and experiment with sales promotions.