How to Improve Sales

Sales promotion is one of the seven aspects of the promotional mix.(The other six parts of the promotional mix areadvertising, personal selling, direct marketing, publicity/public relations, corporate image and exhibitions.) Media and non-media marketing communication are employed for a pre-determined, limited time to increase consumer demand, stimulate market demand or improve product availability. Examples include contests, coupons, freebies, loss leaders, point of purchase displays, premiums, prizes, product sample and rebates.

Sales promotion includes several communications activities that attempt to provide added value or incentives to consumers, wholesalers, retailers, or other organizational customers to stimulate immediate sales. These efforts can attempt to stimulate product interest, trial, or purchase. Examples of devices used in sales promotion include coupons, samples, premiums, point-of-purchase (POP) displays, contests, rebates, and sweepstakes.

Techniques

Price deal: A temporary reduction in the price, such as 50% off.

Loyal Reward Program: Consumers collect points, miles, or credits for purchases and redeem them for rewards.

Cents-off deal: Offers a brand at a lower price. Price reduction may be a percentage marked on the package.

Price-pack deal: The packaging offers a consumer a certain percentage more of the product for the same price (for example, 25 percent extra).

Coupons: coupons have become a standard mechanism for sales promotions.

Loss leader: the price of a popular product is temporarily reduced below cost in order to stimulate other profitable sales

Free-standing insert (FSI): A coupon booklet is inserted into the local newspaper for delivery.

On-shelf couponing: Coupons are present at the shelf where the product is available.

Checkout dispensers: On checkout the customer is given a coupon based on products purchased.

On-line couponing: Coupons are available online. Consumers print them out and take them to the store.

Mobile couponing: Coupons are available on a mobile phone. Consumers show the offer on a mobile phone to a salesperson for redemption.

Online interactive promotion game: Consumers play an interactive game associated with the promoted product.

Rebates: Consumers are offered money back if the receipt and barcode are mailed to the producer.

Contests/sweepstakes/games: The consumer is automatically entered into the event by purchasing the product.

Sampling: Consumers get one sample for free, after their trial and then could decide whether to buy or not.

Buy x get y free a.k.a. BOGOF for Buy One Get One Free

Three for two

Buy a quantity for a lower price

Get x% of discount on weekdays.

Free gift with purchase