August 13, 2022

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Sales, special offers, promo: 6 sales tips to liquidate your stocks

If you’ve ever seen a furniture store say “Full Clearance Before Closing” and then reopen soon after, you’re not alone. With all this cheap merchandise, you could say that the owners are deliberately sinking their stores. However, if they practice this method, it is because they know their trade, even if the string is a little thick.

(…) The human being is conditioned to jump on the good deals. Everyone loves to buy cheaper. (…) There is more than one way to entice the customer with special offers, but most have in common create the impression that it is exceptional and that it will not last forever.

Here are some of the formulas that you have probably come across:

· The discount : percentage or discount on the usual price.

· Flash sale : massive and temporary discount.

· The discount : price reduction on the purchase.

· A product purchased, a product offered : incentive to receive something else after making the purchase.

· Sponsorship : reduction if you bring in a new customer.

· The loyalty program : discount if you buy more or buy often.

· Free sample or trial offer : to promote a product or service before it goes on sale.

· Random reduction : variable percentage or reduction on the usual price.

· The competition : competition or prize awarded at random.

The most important thing about these offers is that they are not valid or activatable only for a limited period. Here are some slogans to promote them.

Watch how much your behavior changes when faced with this type of prompting. (…)

Psychology of scarcity and urgency

(…) Here is a very brief summary that explains why we are all conditioned to respond to specials. Two psychological variables are at play: rarity and urgency. The first relates to the feeling that resources or opportunities are limited, the second with the feeling that these resources and opportunities will not be available for long. (…)

In general, the more you integrate these factors into your marketing approach – without being dishonest – the more likely you are to be successful. It is not a question of making a comeback, but of find the best approach for you. (…)

Specials are more art than science. However, there are a few tips you may find helpful.

Tip # 1. Advertise the sale in advance

Don’t suddenly show up with a sale. Let her know that she is coming. You don’t have to go into all the details, but creating anticipation can help spawn a line of impatient buyers who will stomp outside the door before the sale begins. (…)

Tip # 2. Simplify access to the offer

A hair salon near me regularly posts an ad that reads: “Tell your friends about us. If they mention your name on their first visit, you earn 25% on the price of the cup. “

It might sound tempting, but take a closer look at the process. First, you engage your credibility with your friends by telling them about this salon. Then you need to remind them to name your name, otherwise the deal will slip right past you. Hello pressure!

Tip # 3. The sale must represent a substantial saving

Imagine the above deal, with only 10% discount, activatable only on the normal price of the cup. If there is a promo on the cuts for some reason, forget your 10%. It doesn’t matter, does it?

Tip # 4. Make sure the offer is of interest to consumers

The key is to reach out to the emotional realm and convince consumers that you are going to give them something they weren’t aware they needed.

Tip # 5. Test before launch

There are likely to be a few settings you need to change on your site when you post an offer. Before posting a bunch of enticing proposals there, make sure everything is consistent and working as it should. Nothing is worse than customers who imagine they’ve come across a fantastic deal and, when it comes time to pay, find out that the offer or promotion is over.

Tip # 6. When it’s over, it’s over!

People often ask for the sale to be extended just for them. Most of the time, the correct answer is to say no. You announced that the sale would end at a certain point, so if you make exceptions you will not only be questioning your credibility, but you will also be breaking your word to everyone. A little extra time is always possible, but generally stick to what you’ve said. If you follow this policy, people will be more attentive and will not miss the promotions the next time around.

Olivier Roland wrote the preface to the book “Side Business” by Chris Guillebeau.
– Photo Fred Marie

THE AUTHOR: Olivier Roland is an entrepreneur, lecturer and author of the book “Everyone did not have the chance to miss their studies”. This text constitutes the preface to the book “Side Business. Launch your complementary activity in 27 days ”, by Chris Guillebeau, published by Alisio, 329 pages, 23 euros.