Offering the same items every day may seem like the only strategy possible without spending a lot of money on a diverse array of promotional items. It’s difficult to create more interest every day with the same deals, but some companies have found ways of making it successful by not giving things away every day.
Similar to the rush McDonalds used to see for certain promotional products, handing out different items on different days or making only specified promo days can make consumers more excited about free products a business has to offer. Both online and in-store items can get more attention when coupled with a limited promotional giveaway.
Giving away an item should make sense if you’re offering it specifically with a product, and that may not be the case with everything sold in-store or online. Pairing a free promotional giveaway with certain purchases only can make consumers more willing to buy a certain item, even if it’s just a more expensive version or service of what they may have originally intended to purchase.
What’s more, there’s no need to have multiple items to give away if two items work well together already. When a product combination makes sense, it’s more likely to see sales. That’s why more than half of all companies said in a deals survey that they always used the same promotional product in rotating daily deals specials. The results found that the more often a company utilized this strategy, the higher the likelihood became that they would start incorporating more products and items into their sales strategy.
A strategy that has been successful for driving sales in businesses of all sizes has been offering specific items only at certain times and changing the way they offer their products. These daily deals drive purchases differently than simply offering a sale on an item, as consumers know they can’t wait and think about buying something for too long or the deal may disappear.
“Overall, the results find little or no evidence of deterioration in the performance of daily deal promotions,” said Utpal Dholakia of Rice University’s Jones Graduate School of Business. “Rather, there is improvement in some metrics.”
According to research conducted by Dholakia, businesses see much better promotional product success when using daily deals strategies, creating interest and scarcity that drives sales when consumers know they can’t waste time when deciding on a purchase. Driving targeted sales can increase revenue and get more return on investment for businesses spending on promotional items.
One of the leading ways these deals are delivered to consumers is through internet stores and advertisements, so investing in this strategy usually requires maintaining an internet presence. However, a business that does not already use online marketing or maintain an online store is missing out on a vast amount of profit already, as studies have shown consumer spending and shopping trends are shifting. As the proliferation of smartphones and tablet computers increases, people are even using these tools to comparison shop with competitors while browsing in a different store to try and get the best deal.
Offering a promotional product with the sale of an item can increase the likelihood of a consumer choosing your item over someone else’s, even if it’s more expensive. Having a daily deal attached can make sure that sale happens the same day the shopper learns about it.