2 Sales Promotion Examples and Ideas
- AFreelancingServices
- Aug 2, 2020
- 2 min read
Updated: Aug 7, 2020
#1 Referral Programs and Word-Of-Mouth Promotions
Referral programs take advantage of the power of recommendation. No matter if you aim at your business partners or end customers, both will be more encouraged to spread word-of-mouth if provided with a vision of attractive rewards.
What decides the success of a referral program? In short, reward. The rewards increase the chances of word-of-mouth, priceless in acquiring new customers. Don’t know what reward to choose? Experiment! Launch a referral program with multi-level reward schema to:
Reward customers according to their engagement.
Test which rewards works best in particular customer segments.
Clear and concise rules and a catchy idea can win a huge referral audience.
From all of your customers who claim that they would recommend your services to their friends, only a few will actually do it. Unless you make them feel more motivated by offering a gift card, voucher or free product. Don’t hesitate to look for attractive rewards outside your inventory. If you provide customers with items needed only once in a while, a great incentive may be a simple gift of an external provider. Maybe a Starbucks coffee in exchange for each referred customer or a 20% Discount?
#2 Loyalty Programs / Lifetime Membership
We don’t have to repeat how important loyalty programs are in sales strategies. When you build your loyalty program strategy keep in mind that acquiring a new customer is 7 times more expensive than convincing an existing client to re-purchase. A good loyalty program software is an investment that comes back.
Loyalty programs with multi-level structures have a greater chance of keeping customers interested. A very effective method of increasing engagement. This helps you to distinguish the most valuable customers and primarily, gives a clear goal to all people who participate.
Comments