7 METHODS FOR SALES PROMOTION

Each and every activity performed in a business organisation is performed only to achieve a single goal that is sales. Sales makes the topline of a balance sheet

There are various ways to do sales promotion it depends on business to business that which method will give you best results may be all 10 methods will give you the results or only few so first understand the methods and then analyse them accordingly

  1. DISCOUNT- It is the most common way whiciis used by various business organisations to attract more customers and broaden their customer base.But using this method will effect your gross margin keep it as a backup method use it if nothing works.
  2. REFUNDS- This method is only suitable for premium market or for rental business like if you run a car rental business or own a coworking complex so to attract more customers you can start a scheme of refunds this method is not for Chinese goods or non recurring business.
  3. PRODUCT COMBINATION- A good product combination made with adequate research of consumer behaviour can give new heights to your sales like for example Johnsons baby kit or a cricket kit and many more. Observe the needs and requirements of your target audience.
  4. QUANTITY GIFTS- This method is also known as freebie sales. It is giving a low price commodity free on the purchase of high price quantity like free mouse with laptop.
  5. FULL FINANCE@0%- IT is the most trending method of sales promotion you must have heard of bajaj finserv they give full finance at 0% interest if you have qualified credit score you can also use this method if you deal in high price commodities.
  6. LUCKY DRAW- It is an evergreen method of sales promotion a lucky draw can change the buying decision of a customer but play safe be calculative while announcing the price.
  7. CONTEST – This method is used by various corporates you can either sponsor a contest or can conduct of your own and grow up your sales

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