The January Sale is something many look forward to, but with slimmer margins, many retailers find it difficult to make ends meet.
Today, we’ll share ways to turn January into one of the best months of the year.
1. Don't be boring
Giving a discount such as “50% OFF”, may sound great, but you’ll be just another pea in the pod. The crooks of this strategy are that it boils to down to;
- Who has the biggest %OFF.
- Who can shout it louder.
Flat discounts might work for a shop with little to no competition and is the easiest to implement but is the least effective strategy by far.
We recommend looking at big brands in your niche, see what kind of discounts and promotions they are running. These brands typically have a whole department entrusted to ensure maximum deliverability so don't be afraid to be inspired by them.
Here are a few examples, of offers we scoured online:
- Share our Facebook posts for five days in a row and receive a €50 discount on your next purchase!
- Send us your TikTok video using our products and receive a FREE hoodie
- Tell us how our coffee changed your morning routine and WIN a year's supply of FREE coffee.
Note: You should still have in-store offerings such as “20% off everything”, as your customers will only be expecting it, but keep it at a profitable level.
2. Video is your best friend
Whether you're posting on social media or sending out an email, a video should always be your first choice. You don't need a fancy production team, grab your phone and record yourself explaining the January discounts you're offerings. Post that to Instagram, Facebook, Twitter, TikTok, send it via email...
The secret here is to encourage engagement. The more people share and react to your content, the more it will show up to potential clients.
3. Exclusive Daily Deals
One of the best ways to keep constantly flowing traffic to your store is to have exclusive deals. The concept is simple; one godfather offer per day.
The name of the game here is simplicity.
EXCLUSIVE DEAL - 90% OFF DINING CHAIRS
This strategy acts on two fronts;
Sense of urgency and brand awareness.
Because it's a very limited and exclusive offer, it triggers the inearth sense of fight or flight, or better known as "urgency". On the other hand, these kinds of offers tend to get really good social engagement, providing a high level of brand awareness.
Some pointers to get the most out of exclusive deals;
- DO NOT offer old stock you have lying in storage, the products on offer should be some of the highest demand items.
- DO make it very clear, the offer expires today.
- BE CLEAR on any terms and conditions imposed on the offer.
- BE SPECIFIC, will the offer be in-store only or online only? We suggest to mix it up; Monday store only, Tuesday online-only, .. Friday available online & in-store.
Use the peak traffic seasons such as the January sale to create or update a customer database. Don't be shy to ask for phone numbers and email addresses, especially if you can offer something in return.
All the collected customer data will come in handy on the slower periods of the year, but more on that some other time.
Found these tips helpful? Let us know in the comments section below.