Do you want to increase your sales with new and existing customers? If so, a flash sale is just the thing you need to get the ball rolling.
A flash sale is a limited-time promotion that”;s popular on eCommerce and SaaS websites. Typically, the business owner and marketing team will offer one or more products in their online store with a massive discount. You could compare a flash sale to a smaller scale Black Friday event.
The reason these specials work so well is they spark fear of missing out (FOMO) with consumers. FOMO is a psychological phenomenon where consumers are more likely to impulse buy or make another split-second decision based on time. When you consider that 60% of people make purchases due to FOMO, usually within a day, it becomes clear why flash sales are so popular.
There are plenty of ways you can use these sales across all of your marketing platforms. Today we are going to look at 5 tips you can use to get the most value from your flash sales.
Let”;s get started!
Look for the Right Opportunities
The first thing you need to think about is what you”;ll offer during your sale. There are several ideal times you”;ll want to host one of these sale-boosting specials.
Do you have a physical product that you”;re selling, but accidentally purchased too much stock? Use this as an opportunity to hold a flash sale to get rid of your extra items. You won”;t make as much money per transaction, but this strategy”;s speed and effectiveness can help you quickly recoup from your losses.
You can also drastically improve your sales if you hold a flash sale during a special event, like your brand”;s birthday or the release of a new product. For instance, you could create a deal for your company”;s 5 year birthday by slashing all of your prices in half for 3 days. You can almost guarantee that existing customers will come to stock up, and you”;ll catch the attention of new leads when they see an opportunity to save 50%.
Create an Email Series
Email marketing is viewed as one of the most effective ways to reach your target audience and improve your sales. In fact, the average ROI for an email marketing campaign is 4,400%!
In other words, you”;re missing out on a massive marketing opportunity if you”;re not promoting your flash sale to email subscribers.
The key to improving your email conversion rates during this special is to create an email series for your sale. Email campaigns that use this technique usually send 4 emails.
Your first email should go out a few days before the flash sale starts. The goal is to raise awareness and get people excited. Once you”;ve planted that first seed, send out your next email on the first day of the sale. This is a critical moment where you can start quickly building traction, but you need to make people aware of the event.
Next, send out an email on the last day of the offer. This email aims to inspire FOMO and get consumers to act before it”;s too late. Your final email should occur at the end of the sale and serve as a “;last call”; to people who put off taking advantage of the offer.
Use On-Site Notices
It”;s important that new users who find your site during the special know about the promotion. Your website should prominently feature the offer and alert customers who browse your blog, add an item to the cart or visit your homepage.
The best way to alert users of your flash sale is with an on-site popup. You”;ll want to use an alert that doesn”;t annoy or frustrate your customers but makes them aware of the limited time deal.
Your popup should encourage users to subscribe to your email list to take advantage of the deal. Using this process, you”;ll have the ability to generate more leads and sales simultaneously.
When you”;re creating on-site popups, don”;t forget to make your call to action short and sweet. If your offer is confusing or has too many steps, you could lose out on traffic and revenue.
Get Social with Promotions
Social media platforms like Facebook and Instagram are also extremely popular across all industries. A big part of this appeal comes from the fact that over 3 billion people use social media, so it”;s easier to reach your target audience than ever before.
There are several ways you can get more from your flash sale by using social media. There are somewhat obvious methods like announcing the deal on your brand page or paying for ads on Facebook, Twitter, and other social platforms.
But we want to talk about a more obscure way to get more value from your sale. You could hold an online contest where you generate tons of new leads and followers on social media. After you announce the winner, you can hold a flash sale as a way to thank everyone who participated. Depending on how interested those consumers were in winning your product, this could be the strategy you need to turn those prospects into sales.
It”;s worth noting that your website should be optimized for mobile users if you”;re going to use this strategy. A stunning 91% of people access social media from smartphones, and they are likely to use their mobile devices to land on your website.
Monitor Your Results and Make Adjustments
The last tip we have for you involves using the data from previous flash sales to improve future events. These specials are great for generating sales, but they also provide you with plenty of helpful information about how consumers engage with your brand.
Check your Google Analytics, email, and social media stats to see how you succeeded and where you can improve. Understanding your analytics can help you fine-tune the process of creating and sharing flash sales. The more information you have on your users, the better chance you have at hosting a flash sale that helps you exponentially grow your business.
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