The end of the financial year is a great time for businesses in Australia to boost sales and improve their brand awareness among the target audiences. As businesses take stock of their inventory, they also experience a significant increase in the demand for their goods and services.
This provides them with a unique opportunity to push their sales higher and increase their profitability. However, to ensure the same it is important for businesses to use the right marketing ideas to boost sales.
Given below are some useful EOFY marketing ideas that can help businesses to improve sales and boost their market share.
Launch Discount Schemes and Free Gifts
One of the most effective ways for businesses to boost sales is to launch discount schemes and offer loyalty bonuses to their customers. The very thought of getting something free or at discounted prices drives customers to shop for way more than they intended.
Businesses can use custom pull-up banners to announce any such schemes.
These banners hold a unique appeal that makes it extremely easy to inform current and potential sales policies of business interestingly and excitingly. Printing messages like “It’s Now or Never”, “Make Most of the EOFY Sale”, or even “Time Is Running Out” motivates customers to immediately take action.
Such messages create a sense of urgency and hence should be an integral part of any marketing strategies aimed at boosting sales towards the end of the financial year.
Reboot The Business Website
Most people today prefer to shop online rather than visit retail stores in person, as the former method tends to be easy and convenient.
Revamping the business website to make it more user-friendly and appealing can thus go a long way in attracting a larger number of online shoppers. In addition to focusing on creating an appealing design, businesses should also pay attention to keeping the website well-organized and easy to navigate.
It is equally important that online shoppers are constantly made aware of any special offers or deals being provided by the website. These businesses can use customized pop-up banners that provide a call-to-action for the users and can also be dismissed easily.
Care should be taken that these banners do not hinder the usual shopping experience of the visitors or do not pop up repeatedly even after the customer declines the offer.
Announce Loyalty Programs And Shopping Rewards
Announcing loyalty programs and shopping rewards for regular customers is another effective way to boost brand awareness and push sales. Not surprisingly, many businesses implement this idea as a critical part of their EOFY marketing ideas to boost sales.
Loyalty programs assure regular customers of being valued and cared for and this, in turn, motivates them to invest time and effort in promoting the business through word-of-mouth.
Shopping rewards prove similarly beneficial as they motivate customers to reach the spending limit where they can get a gift or other shopping benefits. Such rewards make the shoppers feel that they are getting good value for their money.
Moreover, it motivates them to make the most of the current opportunity of getting various goods and services offered by the business at a fair price.
Organize Competitions And Live Events
Providing a great user experience is the key to boosting sales, especially when the financial year is just about to come to an end. Organizing competitions and live events provide businesses with a great opportunity to create remarkable customer experiences.
Even a small in-store or online live event can ensure a big boost in sales as people are ever excited to be a part of something unique.
Businesses can even hold competitions to improve customer engagement in a fun-filled and exciting manner. However, the tone of these competitions should be non-serious and informal so that customers do not feel disappointed.
Businesses may also use the strategy of allowing only customers who meet a specific purchase limit to participate in these competitions and events. It is also advisable to offer a small reward to every participant so that each one of them feels like a winner.
Highlight New Products
Offering samples of new products or services that the business is about to launch in the new financial year is yet another effective marketing strategy for boosting EOFY sales.
Apart from providing the customers with a preview of what they can expect in the next financial year, the strategy also helps businesses to get honest feedback about new products and services.
This can in turn helps them to improve their offerings further and prepare for a successful launch that will help boost their business growth.
Moreover, it will also help increase the year-end sales figures quite significantly as most customers would be curious to test the new products being offered at a minimal price.
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Final Thoughts: Businesses can improve their profitability significantly during EOFY by following the best marketing ideas to boost sales like the ones discussed above.