Special offers, discounts, and promotions can do wonders for your sales. Used correctly, they can bring in new customers who would not have otherwise completed a purchase with you, create loyalty among existing customers, and grow your brand’s reach.
But in order to get the most out of your offers, you need to learn how to time them appropriately. Here are four tips that can help:
- Measure sales over time. It’s not hard to get a firm grasp on when sales are stronger and when they’re not as strong. Knowing which months and what days of the week are your best performers will help you time your offers for greatest impact. You can use them to boost your lower performing times.
- Adjust for holidays. Look at a calendar and pay attention to major holidays. These may be important to your business, depending on your industry and customer base. Offers around specific holidays can be very effective.
- Test different deadlines. We know that publicly stating a deadline improves offer performance. But how do you pick the right day for your deadline? It’s important to test different schedules over time, adjusting the day of the week of your deadline and the overall time that the offer is active.
- Secondary Sales. A special offer can be the best way to turn a new customer into a repeat customer. And timing here is critical. Follow up at the appropriate interval after someone has had a chance to engage with your product or service and offer them a discount on a related purchase.