How To Run A Flash Sale
Promoting products and running sales for your customers can be hit or miss. Sometimes, they will look at an item, and decide to return later to purchase, ultimately forgetting about it. Others, they will get excited and take advantage of the deal. One way that businesses can encourage customers to fall into the second category is by running a flash sale.
What Is A Flash Sale?
A flash sale is a promotion or discount that is offered for a limited time, often as a surprise to customers. The main goal of a flash sale is to create a sense of urgency, driving sales before the deal is over. Flash sales usually do not last long- they can be as short as an hour or as long as a few days.
Why Should I Run A Flash Sale?
Flash sales can come with many benefits. If you are trying to clear out old inventory, flash sales can help you make some room for newer products. Flash sales also create a sense of urgency, so customers are motivated to make a purchase. By offering a great price for a limited time, they are more motivated to make the purchase before time has run out. Flash sales can also drive customer loyalty. Giving them a good deal on products, even for a short time, is exciting and will have them following you more closely.
How To Run A Flash Sale:
Start with choosing your goal. Do you want to clear out inventory, drive traffic to your website, or promote a new product? Whatever your goal is, keep that in mind when creating your flash sale.
Think about what product, or products, you want to include. It could be one product, a category, or your whole website. If you are choosing to run a promotion on a single product, make sure that it is one that will provide value to your audience. Even choosing a product that is already popular can be a great way to introduce it to a larger audience, and spread the word about your business!
Plan how long you want to run your flash sale. “Limited Time” doesn’t seem as limited if you are running the sale for a week or two, so decide on a short time frame. Customers do not want to feel as though they missed out on a great deal, which encourages them to go ahead and make the purchase.
Brainstorm how you want to promote your flash sale. Typically, flash sales are announced shortly before the sale starts. You can let your audience know exactly what they are in for, or leave an air of mystery. For example, instead of telling them “15% off our entire website starting Wednesday at noon!”, consider telling them to stay tuned for an exciting announcement.
Consider the wording that you use when announcing your sale. Phrasing can make a huge difference in the success of a flash sale! Typically, for items over $100, a set dollar amount off is more appealing than a percentage. For items under $100, a percentage amount tends to do better. Although they are saving the same amount of money, no matter how you phrase the discount, it does matter.
With the holidays just around the corner, now is a great time to consider planning a flash sale. When it comes to flash sales, it is really up to you to determine what you think will benefit you and your customers best. Have you ever run a flash sale before? Do you get excited when your favorite brands run them?