Episode #7 Should I Have a Sale or Not?

Marketing Tools Podcast

http://marketingtoolspodcast.com/wp-content/uploads/2019/01/Sales.mp3

• Putting something ‘on sale’ is a final tactic after the consumer has already been through the full buyer’s journey continuum of AWARENESS – CONSIDERATION – to DECISION. A sale itself is not a reason to buy…A sale is a reason to buy NOW!
• A loss leader is a common strategy used in many aspects of marketing and advertising. In very basic terms, loss leaders are products or services that are sold at, or often below, the wholesale cost to the business or supplier. But it is a gamble used to encourage further sales. The downside of loss leaders is if you don’t have enough supply to keep people satisfied.

  Tip of the Week
  If your marketing strategy is sales then you don’t have a strategy at all… you have a tactic. Remember a sale doesn’t answer the question ‘why buy?’ a sale answers the question ‘why buy now?’ So when you’re promoting a sale you only want to target people that you assume have already decided to buy because the sale doesn’t do anything to activate people in the awareness or consideration stages. I don’t care about 40% off and no interest until the year 2307 if I don’t need a new couch.