Use promotions strategically to attract price-sensitive customers
Special deals or discounts can grab the attention of those who are mindful of their wallets. While promotions can drive quick sales and boost traffic, they might also attract deal-hunters who aren’t loyal customers.
Tools
| Name | Description | Pricing | Ease of Use |
|---|---|---|---|
| AWeber | AWeber is a leading email marketing platform designed to streamline c… |
Paid Only
|
Moderate
|
| ActiveCampaign | ActiveCampaign is a comprehensive marketing automation tool designed … |
Paid Only
from $29.00/mo
|
Moderate
|
| AdRoll | AdRoll is a comprehensive platform for running display, social, and e… |
Paid Only
from $99.99/mo
|
Moderate
|
| Amazon A+ Content Manager | The Amazon A+ Content Manager is an advanced tool designed to enhance… |
Paid Only
|
Moderate
|
| Amazon Ads Console | Amazon Ads Console is a sophisticated marketing tool designed to empo… |
Paid Only
|
Moderate
|
Objectives
| Name | Description |
|---|---|
| Customer Acquisition | Customer Acquisition is the process of attracting and converting new … |
| Retention | Retention in marketing focuses on keeping existing customers engaged … |
| Sales | The marketing objective 'Sales' focuses on increasing revenue through… |
Demographics
| Name | Description |
|---|---|
| Gen Z | Generation Z, born between 1997 and 2012, is a cohort characterized b… |
| Low-Income Earners | **Professional Description for 'Low-Income Earners'** Low-income ear… |
| Middle-Income Earners | Middle-Income Earners represent a crucial segment of the consumer mar… |
| Millennials | Millennials, or Generation Y, are individuals born between 1981 and 1… |
| Renters | Renters are a diverse demographic characterized by mobility, flexibil… |
Promotes
| Name | Description |
|---|---|
| App | The 'App' is a cutting-edge digital platform crafted to enhance user … |
| Digital Product | A Digital Product refers to an intangible asset distributed in digita… |
| Mobile App | The mobile app is a dynamic digital tool that marketers utilize to ef… |
| Physical Product | The Physical Product represents a tangible good that marketers have t… |
| SaaS | Software as a Service (SaaS) is a cloud-based service where instead o… |
Sectors
| Name | Description |
|---|---|
| Arts and Entertainment | The Arts and Entertainment sector is a dynamic industry encompassing … |
| Food and Beverage | The Food and Beverage sector is a vital part of the global economy, e… |
| Hospitality and Leisure | The Hospitality and Leisure sector encompasses hotels, restaurants, t… |
| Retail | The Retail sector is a dynamic industry focused on the sale of goods … |
| Transportation and Logistics | The Transportation and Logistics sector is a critical component of gl… |
Strategy
| Name | Description |
|---|---|
| Customer Acquisition Strategies | Attracting new customers involves various tactics like ads, social me… |
| Customer Retention Strategies | Keeping customers loyal involves personalized communication, rewards,… |
| Loyalty and Rewards Strategies | Encouraging repeat business through loyalty programs and rewards can … |
| Pricing Strategies | Setting the right price involves balancing profitability and customer… |
Sub-strategy
| Name | Description |
|---|---|
| Discount and Promotional Pricing Strategy | Offering temporary price reductions to boost sales and attract custom… |
Technologies
| Name | Description |
|---|---|
| Email Marketing & CRM |
Channel
| Name | Description |
|---|---|
| Email marketing is a versatile tool for reaching both businesses and … |
Sub-channel
| Name | Description |
|---|---|
| Newsletters | Newsletters are an effective way to keep your audience informed and e… |
| Promotional Emails | Promotional emails are a direct way to reach customers with targeted … |
| Transactional Emails | Transactional emails are a reliable way to engage with customers thro… |
Quick Facts
Channel
Advertising Type
Difficulty Level
Intermediate
Estimated Cost
Medium
Time to Impact
Short (Weeks)
Tags
B2C
Paid
Pros
- Boosts sales quickly by offering attractive promotions that encourage immediate purchases.
- Increases foot traffic and online visits through appealing promotional offers.
- Builds brand awareness by attracting a wider audience looking for good deals.
- Clears out inventory efficiently through time-limited discounts and promotions.
- Lowers barrier to entry for new customers who might otherwise hesitate to make a purchase.
- Encourages trial of new products or services by incentivizing with discounts or special offers.
- Provides measurable results in terms of sales spikes and customer engagement during promotion periods.
Cons
- May attract non-loyal customers who are only interested in the discount and not the brand.
- Can erode perceived value of the product if discounts are offered too frequently.
- Possible negative impact on margins due to lower sale prices.
- Short-term strategy that might not lead to long-term customer retention.
- Customer expectation for ongoing discounts once they’ve purchased at a lower price.
- Risk of cannibalizing full-price sales if promotions are not managed strategically.
- High competition as many businesses run similar promotional campaigns, making it harder to stand out.