Small business owners have so many things on their agenda, but a crucial issue that all of them have to consider is how they intend to grow their customer or client base.
Promotions have become a vital part of this process for many, with discounts, deals, and coupons often proving highly effective as a way to engage customers. For example, in 2018 Inc.com reported on a study by RetailMeNot, which found that two-thirds of people have made an unexpected purchase solely based on having access to a coupon.
An Important Role
Now, a new study has hinted that promotions could be particularly important to small businesses across the US in the coming months.
As MarTechSeries explains, research by Viamedia has found that many local businesses in the country have been reassessing marketing strategies in recent times, with 83 percent choosing to switch tactics. In addition, the poll found that 46 percent specifically stated they are using incentives and promotions to drive sales at the moment.
However, if you’re looking to take a similar step in the coming months, you might not be sure about the best way to proceed on the issue. After all, crafting the perfect promotion could have a major impact on a business, while failing to find the right angle may lead to disappointment. Fortunately, there are many places you can look to for inspiration on promotions, with the online world offering plenty of pointers on the issue.
Lessons To Be Learned
Depending on the sector you operate in, the online ndustry might seem like a strange one to look at for inspiration. However, the sector has enjoyed plenty of success in recent years and it could be argued that promotions have played a key role. Many brands have used them as they look to compete with their rivals and attract new players to their services.
But what lessons are there to be learned from the industry? The online bonuses and promotions on offer at Betfair may well provide a few ideas. For example, at the time of writing the site features several introductory deals designed to entice people to sign up. Each of them covers a different part of the brand’s offering. While this means players can access a deal on the specific niche they are interested in, it also might encourage them to check out other areas.
What that in mind, is there a possibility that you could consider similar approaches to your own promotions? For example, could you offer deals across different product and service lines? Alternatively, could a well-targeted introductory offer be a good way to bring more people into your business?
Take Time To Get It Right
There are countless sectors that you can analyze for ideas and inspiration on promotions, but the online industry’s track record with deals means it should certainly be one of your first ports of call.
Promotions appear to be particularly important to many businesses at the moment, so taking some time to consider how to get yours right could be massive.