Promotional marketing can be an extremely effective way to increase interest, influence purchase decisions, and boost sales. It includes tactics such as special offers, discounts and digital coupons. Why does it work so well? Because customers like saving money.
According to the 2018 SAP Consumer Propensity Study, 56% of customers in Asia Pacific said that they had completed a purchase because of discounts and promotions. In addition, 29% admitted to abandoning cart simply because there were no discounts or promotional codes on offer.
However, to make it pay off and stay ahead of the competition, you need to have a strong promotional marketing strategy in place. Here are seven things you can do to expedite your efforts and turn hesitant shoppers into paying customers before they abandon the cart.
1) Set Clear, Quantifiable Objectives
2) Target Hesitant Customers for Higher Conversions
3) Use A/B Testing to Pick Your Offer
4) Spark a Sense of Urgency
5) Implement Omnichannel Promotions
6) Use Strong, Segmented Creatives
7) Optimize Your Strategy and Segments Continuously
By enhancing your promotional marketing strategy in these ways, you can ensure your special offers help you reach your sales goals. However, don’t over-offer as it can make your discounts feel less valuable. Be sure to track and measure your performance, and tweak your future strategy accordingly.
Want to know more about how advanced machine learning can help you boost your promotional marketing efforts, and trigger hesitant customers’ purchase intent? Please contact us now, through email@example.com or +62 21 522 9088.