For any brand or company when it comes to sales promotion there is always some form of confusion going on as to how to approach the audience and how to strategize the sales promotion activities. If you browse the market you can observe that brands are opting for almost similar sales promotion, or incentive programs which have eliminated the surprise element from the entire process. This predictability of the program is causing the customers to opt out from such programs, however, with leading loyalty program providers such as RewardPort you can ensure that your sales promotion program is different.
Why Incorporate Sales Promotion Program?
Before you dive into selecting a suitable sales promotion program for your brand, understand why you even need the sales promotion program in the first place, what are its benefits.
- Generate New Leads
By introducing certain forms of sales promotion activities or incentive programs a brand can easily generate new leads and customers. These promotion activities include rewards for new customers including free rewards or vouchers.
By incorporating a leader in loyalty programs such as RewardPort you can integrate several activities such as CineRewards for free movie tickets, or Scratch2Win for offering them scratch cards & offering them a chance to win a prize.
- Retain Old Customers
Brands often tend to forget their old customers once they have reached a certain milestone, but by incorporating exciting consumer program they can retain the old and loyal customers and recognise their loyalty towards the brand.
This can be done by rewarding them with different prizes or rewards which can develop a sense of belonging and build trust among the customers, urging them to stay loyal to the brand.
- Increase Brand Awareness
In order to generate brand awareness, certain brands can indulge in various sales promotion activities such as giving BOGO offers, cashbacks, free vouchers, or discount coupons. This helps to create a buzz about the brand in the market, pushing people to buy more of the brand.
You can integrate these activities by integrating a loyalty program provider such as RewardPort and ensure your sales promotion activities are seamless. With RewardPort you can leverage its different programs such as Sweepstakes, Subscription Nation, or Digiflix.
- Introducing New Product
Brands can also use sales promotion activities while they are introducing a new product in the market. This strategy includes either clubbing the new product with an already existing product with a BOGO (Buy One Get One) offer or providing cashbacks, scratch cards or discount coupons on these new products.
RewardPort is one such leader in the industry to offer such promotion programs using Scratch2Win, Freebucks or other products.
- Selling Old Stock
When the old stock is not selling, brands often start sales promotion activities on such non-selling or old stock products to remove them from the shelf. These strategies can be integrated with leading loyalty program providers such as RewardPort and integrate their products such as Sweepskates and Scratch2Win.
- Increasing Revenue
Any form of sales promotion activities when integrated in a brand eventually increases the revenue of the brand and helps them gain more and more recognition in the market. Further, recognising the old customers also builds the trust among them and hence, increased sales.
Trending Sales Promotion Activities
With each passing day, there is a new trend in the industry for different aspects of business, be it sales or marketing. When it comes to sales promotion activities there are new strategies coming out everyday that brands are integrating in their plans. Some of these strategies are successful and some fail due to certain reasons.
Here are some of the most common sales promotion strategies being incorporated by different brands that are helping them gain heights in their business.
- Cashbacks
Consists of a certain amount of cashback on purchase of targeted products which provides customers with a sense of satisfaction and hence, urges them to make more purchases.
- Free Trial Products
Allows customers to explore the new products being launched by the brand and hence, creates a buzz about the upcoming product in the market. It also helps brands to gather a form of feedback on the products.
- Rewards
These rewards can be in the form of gift cards or a free product along with the product that the customer made. These rewards allow customers to feel special and urges them to make more purchases with the brand. For this you can integrate loyalty programs from RewardPort such as CineRewards or Sweepstakes.
- Gamification
It includes programs such as spin the wheel which makes the customer more involved in the entire process of making the purchase and hence, develops a bond with the brand. For more information you can browse the gamification program by RewardPort.
- Discount Coupons & Vouchers
Offering customers a form of discount coupon or free voucher that they can redeem on their next purchase ensures a long term relationship as this is a never ending cycle. This allows the customer to build their loyalty to the brand and further refer the same to their peers as well.
- Subscriptions
For this you can incorporate the Subscription Nation program by RewardPort and offer your loyal customer subscriptions to different OTT platforms or other platforms for a time period of 3, 6, or 9 months depending on the brand.
Transforming Businesses
The above mentioned consumer program ensures that there is a trust and bond developed between the customer and the brand. Further, this bond helps brands to gain profits and based on this already established loyal customer base brands launch new products, catering to the needs of the customers.
These sales promotion activities and incentive program are helping the brands to generate awareness and develop brand loyalty among the customers. This is transforming businesses as the brands are now having a reliable customer base and a solid relationship with them which helps them to generate more revenue, and recognition in the market.
Additionally, brands as a form of recognition offer various benefits to its customers in form of lower price products, enhanced quality and wide range of products for their different needs. Here brands can partner or integrate with loyalty program providers such as RewardPort and let them handle the process of creating a sales promotion program that caters to their needs.
Sales Promotion by RewardPort
Companies such as RewardPort consist of different loyalty programs and solutions that can be implemented into different clients and their varying needs of sales promotion activities. RewardPort’s programs such as CineRewards, Subscription Nation, Gamification, Freebucks, or Scratch2Win are designed in such a way to cater to different clients and offer them enhanced sales promotion activities.
Furthermore, RewardPort is one of the leading loyalty programs provider and has been catering to a plethora of clients in different segments such as FMCG, health & lifestyle and other. Hence, can understand the needs and requirements of your brand and offer suitable solutions.
Frequently Asked Questions
1.What are the common types of sales promotion?
The most common approach of sales promotion are Rewards, gamification, discount coupons, vouchers, point-based promotions, referral points.
2.What are the objectives of sales promotion?
Sales promotion is incorporated into the brand strategies to increase sales, customer loyalty, expand customer base, and generate more revenue.
3.What is the difference between sales promotion and public relations?
Sales promotion is strictly for promoting the brand products and increasing the sale of the brand. However, public relations is mainly to focus on developing and building better customer relations, creating brand awareness and brand recognition among the customers in the market.
