The holiday season is the peak season for most small businesses. One of the most overlooked marketing tricks to drive holiday sales is to use BOGO (buy-one-get-one) deals. In fact, BOGO is one of the most powerful marketing weapons. It is also one of the easiest. All you have to do is make your customers feel like they’re missing out on a great opportunity if they don’t take advantage of it and buy now. Many retailers and small business owners look forward to Black Friday and Cyber Monday to boost company sales, but usually after those dates the discounts start to boil until the week before the last holiday of the year.
So if you want to give your sales an extra boost this upcoming season, choose BOGO. BOGO is a popular acronym that stands for buy one get one free or at a fixed reduced price. It is used by many large and small companies for sales promotions. It’s attractive to consumers because, psychologically, nothing feels better than getting something for free. Right now, as I write this, shoppers are using their phones to search online for fashion items to buy at a reduced price or signing up to receive special offers and discounts in anticipation of the holiday sales season. Buyers always intend to spend less than they did last year, and if the benefits of such a free or discount offer outweigh the benefits of the comparative market price of a high-quality item, they will jump at the chance.
Below are three ways your small business can benefit from the BOGO marketing strategy to increase your sales.
1. Use a sense of urgency: Start a vacation clock countdown. Think of “Only 10 Days Before Christmas” style promotions to use for your BOGO deals. Tell your customers that the availability of special items is now limited and promote the end date to emphasize the point. Appeal to the senses using rich media like photos, memes, and even videos. Get creative and make it colorful and fun.
2. Showcase the use of social media – Whether you have an online business or not, social media marketing is essential for any small business. Use your Facebook, Instagram, Twitter and other social sites to showcase your holiday promotions, sales, events, menus, clearance sales and inventory. You can also use social media to promote Secret Santa-style BOGO promotions that are only available to your followers who unlock the offer using a limited time code on your website or in-store.
3. Gift Giving – Capture your customers’ attention with BOGO’s holiday gift offerings. Gifts are everything and everyone wants one. This is also a good way to attract last-minute shoppers by showing them that they benefit from such a gift if they purchase an item of equal value. Offer a different BOGO gift deal every day or feature a different product every week through Christmas. This not only increases sales, but also invites new customers, drives traffic, and removes excess inventory.
As we head into the busiest shopping season of the year, it’s time to start preparing your promotional offers. Whether you’re building a new discount strategy or trying to figure out how to refine existing campaigns, you can use the BOGO promotion. It’s a highly effective marketing technique that’s guaranteed to drive sales, making the 2017 holiday season a success for your small business while helping your customers maximize their savings.