In this post will take a look at how to do promotions online.
Holiday is coming, and it’s the biggest chance for every business to gain revenue, especially for online retailers as people tend to spend 30 times more shopping during the holidays than other times of the year.
With the fancy opportunities coming from Black Friday, Cyber Monday, Thanksgiving, Christmas, and New year, all online stores seem to join the race by pushing out a lot of different marketing campaigns. While some campaigns result in an extremely high return on investment, others might sink. So, how do you grab this chance to skyrocket your revenue?
Be creative with your promotion campaigns
Holiday is the time when customers are ready to spend, but it’s also when all online stores are rushing to send out discounts. What makes them choose you instead of others might merely be the creativity and effort you spend on your marketing campaigns that help you stand out from the crowd. For example, you can create a holiday combo for your store, which is a win-win game for both you and your customers. You can increase your average order value, boost revenue, while customers can save a lot of money by buying things they need together.
There are many digital marketing methods that business owners and digital marketers can use to promote their brands, products, and services through their websites. Some of these are paid advertising and promotion channels that are guaranteed to get you highly targeted results in the shortest span of time.
Let’s start with the basics: Set up your goal.
Well, obviously you want to make more sales. However, there can be another goal, like gathering customers’ emails. Why would you want to do that? There are a couple of terms in sales and marketing you may have heard: Front-end and Back-end.
Front-end marketing is any offer that brings in a new customer. The type of offer is irrelevant. It can be a free plus shipping offer, a deeply discounted offer, etc. What matters is that there is a sale and you’re capturing a buyer, not just an opt-in. However, opt-ins can also be on your front end. In either case, whether you have an offer for sale or an opt-in, as the first step in your front end, you’ll usually also have front-end sales funnel consisting of a tripwire offer and a couple of upsells and down-sells. This is your front-end sales funnel.
Back-end marketing is any offer that sells to an existing customer. Again, the type of offer is irrelevant. The important thing to learn is that this is in the back end. So it usually consists of a follow-up email sequence that nurtures the buyer and moves them onto another offer, which in turn is another funnel with upsells and downfalls behind that or a high ticket value ladder.
The money is in the back-end. What that simply means is that you make more money by selling additional products to the same customer than you make on the initial front-end sale.
Moving to the next step: Create an Offer.
If you want to attract more prospects and customers, you should put some creative efforts in creating an outstanding offer. The discount works, but it might not be the best option. Consider adding some additional products at no extra cost or do free shipping.
Put a time limit on the product. The time limit will help entice people to act now so they won’t want to miss out on the additional value. FOMO (fear of missing out) principle in action.
Choose your target audience.
You need to know who your target audience is and where to find them. If you have installed Google Analytics or Facebook Pixel in your store (if you don’t know what Facebook Pixel is is, please read this article), it makes the process easier. If not, don’t worry; we will go through other ways of how to target your audience.
If you have installed Google Analytics or Facebook Pixel, you can do remarketing for people who have visited your website. If you want to use Google AdWords, you can pull the data (users) who have been on your store and create a remarketing campaign. If you want do Facebook ads, you can create a Custom Audience based on Pixel data and run ads to people who visited your store or bought from you. In this case, you will be promoting your offer to the “warm” audience, i.e., people who have already interacted with your brand to some degree.
If you don’t have any tracking tools installed on your store you can try to target people based on your offer. For example, if you want to promote a sale offer on Magic: The Gathering cards, you will need to target fans of MTG.
We will be using Facebook ads for this example. Go to this page and then click on a blue button “Go To Audience Insights.” Then in a new window, you will see this:
It’s the Facebook audience insights tool. By using this tool, you will be able to determine who exactly you want to target for your advertising campaign. We will go in greater detail on how to use this tool in another article. Otherwise, it will be too much to comprehend. In a nutshell, if you can target people who like all the pages related to MTG, it’s called targeting by “interests.” You can also target people by geography or based on demographic data available.
Moving on. Choosing a marketing channel for your holiday promotion.
Since we’re talking about an online promotion, we will consider social media and email marketing.
If you don’t know yet on which social media your audience is, you can always refer to your store data. Go to your Google Analytics account, choose acquisition > social > overview. There you will see from which social media channels people are visiting your store. (screenshot below)
Choose the top social media channels that are driving the most traffic to your store and promote your offer there: Facebook > do Facebook ads.
An email promotion is usually a broadcast offering discount or other incentives to purchase a product or service or to subscribe, register, download or perform some other action intended to drive revenue. The design and content of promotional emails should, therefore, be focused on persuading the recipient to take immediate action, often within a specific timeframe. In contrast to email campaigns, promotions tend to be time limited due to the deep discounts and special offers. Just let people know that if they don’t take action, they will miss out big time.
It’s really hard to share everything in one post, but I hope you found a couple of points valuable. We will be updating this post constantly to give you better information on how to run online promotions.