Discount and Freebie Marketing Strategies to Increase Small Business Sales

The agenda for any business big or small is SALES. NO SALES NO EARNINGS NO BUSINESS.

Small businesses are more vulnerable financially and socially. A small shop with no customers is easily noticed and negative publicity is definitely not needed. Launching a new product also is not easy. In addition to the usual sales promotions you have to think about other strategies to attract your customers.

Universal attraction for freebies and discounts

It is an amazing psychological marketing tool if used the right wayand will definitely boost sales. Everyone loves a freebie and a bargain.

 Making discounts and freebies work for you – Up your Sales

Offer a free sample, it could be taste of a food item or an app or a free video or e magazine or a part of your services.  Most of us are familiar with free games; a free one hour trail very often leads to sale of the full game. It is a ‘Freemium’. The idea is to attract your customer to look and sample and then buy.  Earlier where one customer was buying, you attract 20 and sell to five. You may not make a sale immediately but you have the psychological advantage, one the customer feels he has got something free and plus if he likes it, he will buy it now or remember and buy later or even recommend your products, presto you get free word of mouth publicity.

Be clear about your purpose in offering a discount or freebie.

You may not be able to invest in a big ad campaign for your new product or new add ons; the best way to attract customers is by inviting them to try it out with the enticement of it being free or discounted.

 Clearing Stock

Year End or Season Sales are common, but somehow it seems to smack of desperation and bad stock management and they are not sound business practices.  But they are accepted social phenomena.  People love SALES.  So use it.  Offer genuine discounts.  A satisfied customer will come back and buy at the full cost later on.

Never make a loss on your freebie or discount; you should be able to afford it

Market feedback

This is a very important aspect of freebie and discount marketing, you get feedback on your product, and you get to know customers’ requirements and can adapt and improve your product and boost your sales.

Freebies and Discounts are grossing marketing strategies for small businesses.

Republished with Permission from Everything Small Business Journal – http://esbjournal.com.