Many retailers live and die by the amount of spending that occurs during the holiday season between Thanksgiving and Christmas. During this past holiday season, many sales where driven by“Limited Time Offers”.
The shortest lived limited time offer is probably “Black Friday” with many of the retailers putting specific items on sale for only an hour or two at a time and we all know how well that works. The TV shopping networks have perfected the “Limited Time Offer” like a piece of fine art. Why do the shopping networks have that little clock in the corner of the screen ticking away? Simple, it is to make you realize that their offer of a lifetime is going to expire soon, so you must act now and because it works!
The “Limited Time Offer” is a proven method of increasing sales. Many of the corporate giants use “Limited Time Offers” to boost sales. Take Disney and McDonald’s for example. Disney takes many of their best selling movies and “locks them away in a vault”. By doing this, Disney is making a limited time offer on a particular product to boost sales and then pulling it from the market. The sentiment among consumers is that we have to have that movie because who knows when it will be offered for sale again. The reality is a tremendous surge in DVD sales for Disney. McDonald’s does the same thing with some of their products like the McRib Sandwich and The Shamrock Shake. Like Disney, the items are put on the market for a short period of time and then the sale of these items is suspended, and like Disney the results are the same – a large short term increase in sales.
The same tried and true practices that these corporations are using can work for you. Be sure to use a “Limited Time Offer” appeal in your direct mailing or email marketing to create a sense of urgency. The beauty of the “Limited Time Offer” is that any company can use it. Start-up companies can use it to help create a client base and established companies can use it to boost sales during slow periods.
When preparing for your next direct mail or email campaign, ask your FNBR representative how a “Limited Time Offer” can work for you. Call us Toll Free at 888-988-8148 or email email@example.com.
About FNBR Incorporated
FNBR is a marketing company located in Tampa, Florida. We provide printing, direct mail, mailing lists, database management, graphic design, web design, and email marketing services to companies throughout the U.S. FNBR can be reached at 1-888-988-8148.
Ever since the inception of direct mail marketing, mailers have been using incentives as a way to increase their response rate. The use of incentives (like freebies, give aways, or promotional items) have withstood the test of time because they work.
The following are three of the more popular ways to use incentives to increase your response rate and sales.
- Incentives can be used to generate demand. For example, a financial advisor wants to generate attendees for their seminar. By offering a monetary incentive or by having the seminar at a nice restaurant and offering a free dinner, the number of attendees will be greater.
- Incentives can also be used to generate a fast response. You can add a deadline or have a limited quantity offer. When using a limited quantity offer, it’s best to have a large number of these items to give away. If the number of giveaway items is small, you will give the perception that the recipient has little to no chance of receiving the freebie. The fast response incentives get people to respond on impulse which increases sales.
- Lastly, incentives can be used to increase the size of an order. For example there is the classic “buy two and get the third one for free” offer. If you offer a service rather than a product, you can offer free service (“pay for 11 months and the 12th month is free”) in exchange for a longer commitment. It is our basic human nature to have a favorable response when receiving something for free. Incentives capitalize on our favorable emotions to generate greater sales.
Continue the Conversation: Call FNBR at 888-988-8148 or by email to firstname.lastname@example.org.
In an ideal world, the answer to the above question would be never. In reality, all direct mail campaigns will get tired at some point. However before you scrap your current mailing campaign and design a new one, you should consider the following: