60% of the time the average person spends online is on their mobile device. Mobile devices have changed how we live our lives, how we interact with one another, and how we generally act and behave as a society. It’s not a secret that every aspect of our lives has been changed by mobile.
Savvy business owners have caught onto this. Since everyone is dependent on their mobile devices for many of their day to day tasks, businesses are taking advantage of this demand and are proactively taking steps toward advertising their product or services directly to those devices. As of 2016, 83% of US-based companies increased their spending on mobile ads to take advantage of this trend.
One of the best opportunities that mobile marketing offers to marketers is the use of promotions or coupons. Everyone loves a good deal. Promotions play on the constant need of human beings to get the best deal they can, which is why they will never go out of fashion. Paper promotions have evolved and made it onto mobile platforms. Today, it’s easier than ever to increase sales using promotions. Not only can you attract new customers with promotions, you have potential to retain current customers and turn them into loyal brand advocates.
If you haven’t already, it’s time to see where and how promotions can benefit your organization’s bottom line. This blog will go over a few methods that you can use to increase sales using promotions.
A State of the Mobile Coupon Industry report found that 60% of Americans are willing to adopt mobile payment methods if promotions were offered. Another 39% said that if they got personalized promotions, they would spend more at that specific business. Offer the option of using promotions for purchases for your business when it best fits and make it possible to personalize these promotions. For example, you can offer tailor-made promotions based on what is in your customer's cart. Or a promotion based on previous purchases. This will give a serious boost to your sales numbers because you’re catering to what your customers are exactly looking for.
Give your customers options, especially when they can redeem their promotion. 65% of customers redeem promotions immediately. However, 59% of consumers would like the option of waiting for a while before having to redeem the promotion. How about creating promotions that can be saved on your users' mobile devices? This would build loyalty since they have to reach out to you to redeem it and you’ll have another chance to deepen your relationship. For example, Uber offers versatile promotions that can be redeemed whenever the client wants within a specific period which engages their customers.
People love being appreciated. You can use promotions to boost the loyalty of your customers and turn them into brand advocates. Two out of three people say they would appreciate a business that has a loyalty program that helps loyal customers save. Take advantage of this. Make your customers know that you’re looking out for them and when you give them a deal, it’s the best one possible.
These are just a few methods you can use to boost sales using promotions. You need to be empathetic and listen to your customers' feedback. Companies that offer promotions catering to their customers' needs will be rewarded by for it with loyalty. For example, Otofonix, which creates hearing devices, offers promotions for different special days to their subscribers. Another example is Day Translations, they offer a 5% lifetime discount for anyone who opens an account on their website to encourage loyal usage. These companies use promotions to their advantage by creating systems and promotions that their specific audience wants.
Even though we talked about some of the benefits and methods of how promotions can help your business, you also need to be aware of unexpected negative side effects.
Since promotions will almost always provide your customers with discounts on certain products, they will cost you money. To offer a product with a lower price will affect your profit margins and lead to less revenue. Additionally, once people are offered a promotion they will almost always expect for you to offer another one. They’re likely to wait for the next promotion and not buy your products at the normal price.
This might also impact your business’s brand reputation because customers could perceive your products with lower value because they associate your product with the promotional price.
Promotions have a ton of upside for increasing your business’s sales but they also have their downsides. Before starting a promotion, consider all the pros and cons and go for the best choice.
There is a ton of data available to show you just how big a difference using promotions can make for your business. For example, Coupon.com statistics show that people who use promotions spend 114% more money than people who do not. Don’t ignore the numbers and consider how using promotions strategically can help you increase your customer base - meaning more sales.
The importance of mobile marketing can’t be ignored. Employing innovative promotions is the one great way to boost sales. Don’t be left behind. Start using promotions smartly and watch them work their magic for your business.
Author Bio: Rilind Elezaj is an experienced digital marketing specialist with a demonstrated history of working in the marketing and advertising industry. Elezaj possesses a strong entrepreneurial mindset and has devoted his career to enhancing the sphere of digital marketing. In his methodological approach, Elezaj integrates web development and other digital marketing solutions to create hybrid strategies that bring the best results.
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