Initiating a Sales Promotion for a Small Business

A sales promotion is an event or initiative with one very specific purpose: to generate more sales for your small business. It can be anything from a coupon offering to giving away free product at a gathering. An effective sales promotion will either generate sales on the spot, via word of mouth, or in the future after the potential customer mulls over his options. The more creative you are the better when planning your promotion, but there are a few other important things you need to keep in mind when initiating a sales promotion for a small business.

Hire People to Help

Don't try to plan or initiate your sales promotion without getting help (meaning assistance, a professional opinion, or at least advice) from someone other than yourself. Many times I've seen a business owner fail at a sales promotion because he tried to do everything himself. You need a third-party in the equation to keep you grounded or else you may make an ill-informed decision. An extra set of eyes will see things you don't. For example, imagine printing out thousands of coupons for a 15% off offer for the same product that your competitor down the street is offering at 20% off. If you hire a business consultant or researcher you can estimate the success of your sales promotion and any vulnerabilities ahead of time.

Spend Money on Quality Items

If you're going to have a sales promotion, do it right with top quality products and accoutrements. Don't be cheap-this is the first impression you'll have on potential customers and it's worthwhile to make a reasonable investment in the initiative. For example, if you're going to give away free t-shirts at an event, make sure they're made from a good quality material, wrap them in a bow, and add information about your company or product on high-quality postcards or business cards. Presentation is everything when it comes to a sales promotion.

Focus on Your Target Customers

Have you ever passed a flyer to someone on the street and then they toss it right in the garbage? What a waste. Whatever you do, reserve your sales promotion for your target customers only. Don't waste your valuable promotional pieces on people who you know in your heart of hearts will probably not be interested in patronizing your small business. It's okay to be a little discriminating about who you target when initiating and conducting your sales promotion.