Question

Topic: Strategy

Need Some Ideas To Increase Sales

Posted by ziczacxann21 on 10/6/2010 at 4:49 AM ET 125 Points
Hi I would like to get some ideas for a promotion that I wanna do.
My customers are made up of either large chain stores or small stand alone shops.
I would like to make a promotion that would entice my customers to buy more and more from me.

My current pricing strategy is: Buy 12pcs get 30% off. Buy 24pcs, get 40% off.

I have an extra 5% in hand that I am willing to giveaway to these customers, but I would like to get some ideas about the various way I can do this.

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RESPONSES

  • Posted by telemoxie on 10/6/2010 at 11:42 AM Member
    can you provide some more information, such as where you are located, what you are selling, what resources you have (if any) for this upcoming promotion, how successful your current retailers have been, and so forth?

    If you provide more information, and if you engage in the conversation here with us, I think you will get a lot more helpful and targeted suggestions.
  • Posted by Peter (henna gaijin) on 10/6/2010 at 12:11 PM Member
    One option would be co-op advertising. That is where if the customer of yours advertises and prominently promotes your products, you pay for a percentage of the advertisement.

    Or this can be done in reverse. You take out the advertisement, and if the customer of yours buys xx amount more, you list their store in the advertisement.
  • Posted by matthewmnex on 10/7/2010 at 10:16 PM Accepted
    Focus on Sell through at the store level.

    You are talking about increasing the wholesale volumes but if your retailers can't moce the items to their customers then how can they in turn buy more from you?

    Understand who the end user is and devise sales strategies and price promotions that directly address the end user/buyer.

    Your retailers will be really happy to see more volumes coming through and they will be less focussed on their cost if they see good volumes.

    Give the discount to the end users for instance with a special price promotion in store. Produce nice advertising campaigns and point of sales materials to support this in the strores, specnd your 5% on this instead.

    Good luck.

    Matthew
  • Posted by mgoodman on 10/14/2010 at 9:52 PM Moderator
    It really depends on what you're selling and to whom. Giving your distribution channel more money doesn't always translate to more sales. It can also translate to higher profit for those in the distribution channel, with no real additional effort required to earn it ... and no proportionate benefit for you.

    So start with the ultimate objective and work backwards from there. What is it you want to happen, and what do you have to do to get there from here?
  • Posted by Chris Blackman on 10/16/2010 at 6:09 PM Member
    Pick a handful of your best customers, pull out the data on their purchases, and go visit them for a discussion about what drives their purchasing. Ask them what would prompt them to buy more from you. But don't rely on the opinions of just one customer - get a range of opinions from your key clients before making any decisions.
  • Posted by matthewmnex on 10/18/2010 at 3:31 AM Member
    Hello ziczacxann21,

    Thank you very much for awarding the points to me, It is very nice to see that you appreciate my answer.

    Should you have more questions or simply want to have a sounding board to bounce ideas of, please feel free to get in touch with me directly.

    You can reach me on my email matthewanxa at gmail
    I look forward to hearing from you.

    Matthew Edmunds
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