Run seasonal promotions to boost sales
Marketplaces
Running seasonal promotions can give a temporary sales boost and attract new customers. The upside is increased traffic and excitement, the downside could be managing resources or customer expectations post-promotion.
Objectives
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Demographics
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Promotes
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Sectors
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Strategy
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Sub-strategy
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Technologies
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Channel
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| Marketplaces | Marketplaces are online platforms where you can sell a wide range of … |
Sub-channel
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Quick Facts
Channel
Marketplaces
Difficulty Level
Intermediate
Estimated Cost
Medium
Time to Impact
Short (Weeks)
Pros
- Increases Sales Quickly: Effective for driving a sudden surge in sales within a short period.
- Attracts New Customers: Seasonal promotions can catch the interest of new customers who haven’t shopped with you before.
- Engages Existing Customers: Encourages repeat purchases from your existing customer base.
- Boosts Brand Awareness: These promotions can make more people aware of your brand.
- Clears Excess Inventory: Helps in clearing out your seasonal inventory efficiently.
- Creates Urgency: Limited-time offers can create a sense of urgency among potential buyers.
- Enhances Customer Loyalty: Shows appreciation to loyal customers with exclusive deals and discounts.
Cons
- Resource Management: Can put a strain on inventory and staffing resources.
- Customer Expectation: May create expectations for similar offers in the future.
- Temporary Spike: The sales boost is usually temporary and may not result in long-term growth.
- Profit Margins: Discounts and special offers can reduce profit margins.
- Market Saturation: Too many promotions can lead to market saturation and reduced interest.
- Advertising Costs: Running ads for promotions can be costly.
- Customer Experience: High demand during promotions can sometimes result in a lesser customer experience due to delays or stock issues.