End of Financial Year sales are always a prime-time buzz in Australia (or EOFYS for short — a term we’re all familiar with). It’s the perfect time to clear any leftover inventories and be prepared for the new financial year. It’s also an impeccable period to boost your sales and brand awareness using your custom-branded promotional products along with client re-engagement campaigns.
This time of year provides countless opportunities to put your small business on the map! Check out these five tips to help improve your sales numbers this year:
#1 Highlight New Products
Guess what shoppers love to discover — new items or brands! So consider placing them in an eye-catching location or in front of your store. New arrivals and product displays are a great tool to make them stop and look. Same thing goes if you have an online store — you need to put your brand new items in front of the pages or at the top of your social media posts!
#2 Act-Fast Promotion Strategy
Nothing gets customers better than the feeling of FOMO (fear of missing out). So use that in your sales promotion strategy and run a flash sale using captions that create a sense of urgency such as:
- “Time is running out!”
- “It’s now or never!”
- “Buy while you still can”
- “ ______ is almost sold out!”
- “Sale ends tomorrow!”
#3 Free Gift with Purchase
What’s one thing people love more than winning? Well, it’s free stuff! So, sweeten the deal with a freebie and let your shoppers redeem a cost-effective item for free when they make a purchase at your store. For you, it may be a low-cost item, but for your customers, it should feel valuable enough for them to bother trying to spend enough to redeem it. A win-win for both sides!
#4 Create “Everyone’s a Winner” Campaign
Customers are thrilled to get a chance to win a huge prize, but what makes them more excited? It’s if they’re guaranteed something even if they’re not the big winner! It gives them a little more motivation to enter a few more times by making more purchases. Best of all, this will surely delight them into coming back to spend more at your store!
#5 Cashback Loyalty Program
Promotions are great and all, but what can you do that’s long-term to increase sales for your small business? The answer: run a loyalty program. It’s a perfect strategy to entice shoppers to keep coming back and spend more at your store. Running a loyalty program also helps you collect customer data that will help you know who your customers are. Now, you can come up with ways on how to better sell to them… win-win!
Bonus Tip: Buy One, Get One Free (BOGO)
Running a Buy 1 Free 1 promotion is ideal, especially for retailers who want to get rid of old stock. This type of promotion is also great because customers are either:
- buying presents for their family and friends
- stocking up on products
- looking for a great year-end deal
So, which promotion strategy are you going for? If you need help in designing effective promotional campaigns for your EOFY sale, give the team at Social Geeks a call today to find out how we can help! Click here to book a meeting with us.