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Frequently Asked Questions
1. Why should I run a sales promotion?
Sales promotion is a shorter-term strategy designed to:
- accelerate sales of slow-moving products;
- clear old stock to make way for new;
- level out peaks and troughs in consumer demand;
- develop customer loyalty;
- motivate your sales staff or intermediaries;
- gain a competitive edge.
2. What types of sales promotions are there?
A sales promotion is a special offer which is available for a limited period only. The methods vary from straightforward price deals to competitions and prize draws. There are three types of common offer involving customer rewards in the form of:
- money - reduced price, interest-free credit, money off next purchase, vouchers, coupons, etc;
- goods - two for the price of one, upgrades, free samples, prizes, etc;
- services - free trial, guarantees, free training, free delivery, personalised packaging, etc.
3. Can I use sales promotion techniques in a service business?
You can use promotions if you run a service business, though it may take a little imagination to think of attractive ideas. For example, a solicitor could offer a free initial consultation in order to attract new clients.
