There are many ways to promote products and services online. Effective use of Web-based sales promotions can help a company market their specials and sales to consumers. Let’s further explore web-based sales promotions.
Web-based sales promotions are sales, specials, and discounts that are offered online, typically through a company website or other retailer. Companies use a variety of means to communicate promotions to their customers. They may market a sale or special on their website, send an email announcing a discount, or advertise promotions via online ad spaces, such as banners, pop-ups, and sidebars. Regardless of whether the message is sent through web-based promotions, traditional marketing, or mass media, the goal remains the same: to increase the size of the customer base and the sales of the organisation.
Sales Promotion Methods
Here are a few simple eCommerce promotion ideas that will help you boost sales:
1. Contests, sweepstakes or giveaways
Contests capture your audience’s attention with both curious and interactive elements, making them one of the most engaging forms of marketing you can leverage. As well, they are a great opportunity for you to show off your products to a wider group of people – especially if you select a winner according to the number of entries they refer by providing a shareable referral link.
2. Limited time coupons or discounts
Urgency is a powerful psychological marketing tactic for eCommerce stores as it accelerates a customer’s purchase decision and reduces the chance that they will leave your site without buying. An effective way to elicit urgency is by offering coupons or discounts which are only available for a limited time. Brands could run this as a standalone promotion for a set period of time, or alternatively, they could set up expiring coupons that are delivered to prospects or customers at strategic times in your relationship. This may be when they sign up for your email list, make their first purchase, or if they have been inactive for a certain period of time
3. Live chat engagement
Today’s consumers are impatient. They want products shipped in days or even hours. They expect their questions answered immediately, or they’ll simply go to the next website and buy what they want from there. They are spoiled with choice. You can meet this desire for immediate action with a live chat widget on your website. Not only is this a direct channel for customers who have questions, but it can also be a way to engage website browsers and convert them into buyers.
4. Run an influencer campaign
Consumers want to hear from people that they idolise and respect. They trust these recommendations more than advertising from brands. Influencers are all the buzz in digital at the moment, especially in eCommerce. But there is a good reason for this trend – influencers can help you build immediate and lasting trust with your customers at scale.
5. Have a branded hashtag
A branded hashtag can improve the discoverability of your brand on social networks. They also help avid followers deliberately associate themselves with your business – something that is very common when an eCommerce store is positioned as a lifestyle choice, not just a seller of products.
Stages of the Marketing Funnel
Marketing funnels are an expert marketing strategy that entails using different marketing tactics depending on where a person is in their buyer’s journey. Each customer goes through certain steps before finally making a purchase. These steps can be thought of as a path along which a consumer moves to become a customer.It is called a funnel because as you move along the stages, you lose customers. As such, if you start with 100 customers at the top of the funnel, only a small share of these will finally make it to the last stage and make a purchase. Therefore, the number of people keeps decreasing with each stage and that’s why it is called a funnel. When marketers target people at different stages with different tactics, aimed at sending them further along the path, they are using a marketing funnel.
Here are some of the stages you need to consider:
Awareness: Awareness is the uppermost stage of the marketing funnel. Potential customers are drawn into this stage through marketing campaigns and consumer research and discovery. Trust and thought leadership is established with events, advertising, trade shows, content (blog posts, infographics, etc.), webinars, direct mail, viral campaigns, social media, search, media mentions, and more. Here, lead generation takes place, as information is collected and leads are pulled into a lead management system for nurturing further down the funnel.
Consideration: You managed to get targeted traffic to your online store through organic and paid channels. Now you have people who are aware of your brand and who are interested in you. Maybe they’re browsing through your product pages, or you converted them to email subscribers. Consumers at this stage are nowconsidering to buy from you. Your goal is to move them down the funnel and help them take the next action, such as adding a product to the cart or a wish list. At this stage, you should remove any doubts your visitors have and make things easy for them.
Decision: You attracted interested visitors to your e-commerce site and convinced them to take action through email marketing and persuasive copy. Maybe they added a product to their cart or wish list. All they need now is the final push to complete the transaction. You need to save prospects at the decision stage from possible interruptions and give them a gentle nudge to complete the purchase. On-site messages and emails will be your favourite tools at this stage.
Loyalty: Now thatyou managed to move your prospects all the way to the bottom of the funnel, the fun part begins: Make them return and buy again. With an effective customer retention strategy, repeat customers will be the key drivers of your sales revenue. Studies suggest that repeat customers are 9x more likely to convert than a first-time shopper and they spend more per transaction.
Promotions, when done well, are an effective way for you to market your business or products and services. I’m not talking about promotions where you drop the prices on your existing products significantly, or when you have a blowout sale to move stale inventory. Instead, I mean a well-planned, seasonally relevant focus on themes or solutions wrapped around your products that your customers will take note of and value and that prospects will be enticed to try for the first time.