What You Probably Know And Don't Know About Sales Promotion, Why Is It So Potent?
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A consumer always has many things in mind when purchasing and that's actually buying more with less, or buying value with lesser monetary denomination. Organisations knows about this and that's why you have things like flash sales, black friday sales cut off, "buy one get one free" and many other short term techniques or scopes to improve sales. So sales promotion is often used to give a consumer a reason to buy even if that product or service is not immediately the primary need of a consumer. First of all, let me talk about a flash sale. Now a flash sale is putting up a product for sale at an incredibly low price at a specific time and day. Now take for example you have about 2000 people who sees the advert of a flash sale on social media.
Now these 2000 people have taken cognisance of this flash sale and they're suddenly interested in buying. Their interest is piqued and they're instantly aware of a product, they'll use that Instant to see the products that that particular brand is offering and so even if they initially didn't budget to spend any money on miscellaneous things, they'll actually want to buy because that product is coming at a price that's too juicy to ignore. Okay let's say out of the 200 people, only 500 people meets up with the exact time of the flash sale and only about 50 had fast internet connection to actually make a purchase but at the end only 5 people could get the 5 products that was put up for the flash sales. Now did you see the way the herd was thinned from even the social media advert showing the flash sale?
Now the goal has been achieved, and even if more than 1995 people who initially saw the advert missed out on the flash sale, they'll definitely become aware of that brand and follow then for more sales thereby increasing their social media presence and creating awareness for that particular brand. You see salsa promotion is very effective, it's the most effective form of advertising and sometimes it's effects is just public relations on a much more shorter level. Another effective sales promotion technique is in Nigeria BOGOF. (it can vary from country to country but then in Nigeria this one can be effective.) Many brands in Nigeria effectively use this and it works like magic this is because geographical location often tweak the behaviour of a consumer.
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Now in Nigeria, people like free and cheap things and brands like indomie, Soft drink companies often ask people to buy in larger quantity in other to get a smaller portion. Sometimes it could be something like "buy two toothpaste and get one free toothbrush" and then people begin to find a reason to buy. It seems logical, since I'm going to buy a toothbrush anyway why can't I just get it for free and spend less? This is often what seems logical to a consumer and in the mind of the manufacturer they're creating more awareness for their product and actually selling in larger quantity and well attaining higher economic of scales. However the reason it remains a short term inducement is so the manufacturer would not run at loss while they achieve their aim.
In conclusion, sales promotion is not all about creating awareness it's definitely got a lot of purpose and a company's choice of sales promotion will sometimes give off the reason why they're choosing to start a sales promotion. One thing sales promotion does is to help a company sell off their old stock so they can go into new production or sales of new or trending goods. I once remembered Jumia doing a 20% off on a Samsung S8 which is of course and old brand of Samsung and of course no longer in demand so much. Now the only way to sell this Samsung off was through a sales promotion tactics else, they'll lose out totally. In a nutshell identifying a target audience in a geographical location can sometimes boost the effect of sales promotion even more.
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My name is @Josediccus, a young Nigerian student who is a Vlogger, A Psychologist, Poet And Sports Writer/Analyst. I'm using my contents as a process to create shared meaning as well as create expressions through which people on/off hive can relate. I believe content is a process to be enjoyed and relished and I'm up for any collaborations in my field stated above. Cheers
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