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When and how to use discounts and promotions?

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When and how to use discounts and promotions?

In my previous article on ” Promoadictos ” I explained about the importance of knowing how to use discounts and promotions correctly so as not to turn our customers into a kind of zombies.Recommended reading: Promoadictos, the zombies of promotions
In this article, I will talk about how we should really take advantage of these types of tools in order to obtain a benefit not only for the client, but also for our company.
Table of contents [ Show ]
Shall we start?WHAT IS A DISCOUNT OR A PROMOTION?
Don’t worry, I won’t go into Wikipedia-style definitions, since by now you already know Algeria Phone Number List  what it means.
A discount is a reduction in the price and a promotion is an action with which your client benefits or can earn something for buying from you (Although there does not always have to be a promotion through buying)So in summary, a promotion or a discount are tools that seek to incentivize the purchase of a product or service , either for a discount or for obtaining some type of bonus.
Now, there is a secret detail.

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They help incentivize the purchase of a product or service, but they don’t necessarily create customers . You are really getting a buyer.
And here’s the catch.
Many make promotions or  gulf email list discounts looking for customers, when this type of tool is more focused on generating sales (buyers).
BUT I DON’T WANT BUYERS, I WANT CUSTOMERS
That’s right, every company wants that and it’s perfect.
Then you must understand that using these tools can really help you to have customers, as long as you use and combine them in a correct way.THEN WHAT ARE THE PROMOTIONS AND DISCOUNTS FOR?
These types of tools are known as mass recruitment tools , and as their concept says, they serve to attract a good number of people.
WHETHER THOSE PEOPLE BECOME CUSTOMERS WILL DEPEND ON YOU.
Now, that those people become clients, it will be up to you.
The advantage of mass recruitment tools is that the scope may be greater than selective recruitment tools, but as against, loyalty will be more complicated.

 

These types of tools serve to obtain income in the short term, but they do not solve the problems of the company.And this is what I mean, they are a risk.
Many companies use them to fight their financial situation, earn income, hold out for a while and repeat the process again. All for not learning to retain customers who come through this tool.
In short, after a short time, the company is doing promotions and discounts again, thus creating more hordes of promoaddicts .
And it will continue, if you don’t learn to handle your marketing well, creating promo addicts, until they end up eating you.
WHAT IS THE BIGGEST MISTAKE OF PROMOTIONS AND DISCOUNTS?
The mistake is that many times there is no retention or customer loyalty.

For example, I have participated or used company promotions or discounts many times. But they are counted on the fingers of one hand the times that people asked me for some information and then they sought to retain me.
If you attract a large number of customers with this strategy, the objective really should not be only to increase sales or purchase, but rather, to retain a large percentage of those buyers who came and transform them into future customers.here is nothing strategic that 10,000 people come to a company and then do not return. You should then “retain” a percentage of them.
And here is the secret.

THE RETENTION OF THE BUYERS
IT IS THE CUSTOMERS AND NOT THE BUYERS THAT REALLY KEEP A COMPANY ALIVE.
While a promotion or discount helps generate sales, it is the customers and not the buyers that really keep a business alive.For this reason, a good mass recruitment campaign (Discounts, sales, promotions, etc.) should have an objective of retaining a percentage of all those people who are going to go to your company.It is a priority that you somehow manage to get hold of the name, surname, email, telephone number, birthday and even the client’s address.
The potential customer has already come, bought and left. That’s all?

Of course not, now it’s time to use the information he gave you to constantly attract him and not necessarily expect him to return in the next promotion or discount.
And it is exactly what 90% of companies forget.
So when they see that people are not coming, that income starts to go down. Again they launch a promotion or discount, and again they forget to retain it.

In short, they only create promo addicts .
HOW CAN I RETAIN PEOPLE?Very simple, obtaining your data.
Once you have your data, you will be able to put into action the retention and loyalty strategy that must be designed before launching any promotion or discounts.
For example, if the people who came to buy you really bought a very new product, you may be in front of “Early Adopter”, people who like to have this type of thing before anyone else.
From now on you should send a mass email to all users who have this profile every time something new arrives, so that they feel happy to find out and possibly they will buy.
You see. It was not necessary to do a promotion or discount again to make them come back.
Another example?If you have their birthday, then you could do something special there. For example, give him a discount, but because it is his birthday and wherever you want.
You could even give him a shopping voucher or some merchandise.
What matters is that you already have their contact and that is why you can start to build loyalty. You didn’t let it get away from you.
WHEN TO USE PROMOTIONS OR DISCOUNTS?
Every company, whether we like it or not, has a life cycle.
There is usually an introductory stage, followed by growth, maturity and finally decline.

 

The million dollar question is when to use discounts and promotions?Like everything in marketing, the answer is ambiguous since it can be at any time, although the key is more than anything in the objective.
However, I have a recommendation in this regard and I will guide you where and how to use promotions and discounts.
Introduction In the introduction stage, it can be an excellent idea to publicize your products or service.
I’m not a big fan of this because usually prices can tend to go down depending on what you offer and starting with something like that can be dangerous.
Anyway everything is based on the strategy you choose. A product that is purchased only once is not the same as a service that, for example, has a monthly payment. In the first, the discount can lower the perception of product value and in the second, it can incentivize the acquisition of a year of service, giving away one month for free.It is the same tool, but the strategy and the objective vary a lot.
It can be a good introductory strategy, but using it repeatedly at this stage is a very bad start and you’ll be creating promo addicts sooner than you imagined.
Increase
In the growth stage it is not bad to use discounts and promotions, although it is good to understand that the company is growing, it is generating income and people are consuming it because they perceive a value.
Using promotions and discounts incorrectly can lead to a lower perceived value of the product or service.
However, here it is advisable to start keeping the brand’s loyal customers in mind and find a way to retain them. So you have to make a balance. Neither look only for new clients, nor just build customer loyalty and forget about attracting them.
MaturityIn the maturity stage a company already has a good flow of income and even funds. At this time you can afford to use a variety of promotions and discounts, such as to attract new customers on special occasions such as Mother’s Day.However, the serious mistake that many companies make is to obsess only with new customers while leaving out loyal customers. At this point it would be much better to look for promotions and discounts to keep our loyal customers.
Slope Every company dies and at this moment is when sales really begin to decline and nothing seems to make them rebound.
At this point it would be good to do promotions and discounts to test if we are really dying or not. Many companies discover it, after launching repeated promotions and discounts and seeing that nothing happens.
This is where everything gets complicated.
If we don’t have loyal customers, if we forget to take care of them, if we create ad addicts and if sales don’t go up, then we are facing endless death.
You can try doing promotions and discounts, but if it doesn’t work 2 or 3 times, you know. The end is near.

 

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