How To Create A Flash Sale For Small Businesses
It’s essential to understand the characteristics of how flash sales are used effectively by small businesses. Flash sales are proven to be effective marketing strategies with 56% of businesses seeing higher click-to-open rates on their flash sale emails compared to their yearly rate, according to a dailysale.com infographic.
If your business hasn't yet run a flash sale, just start small. You can choose to run a mini flash sale of just a few products or services for a short period of time.
What is the first step?
HAVE YOUR PLAN!
You’ll be generating a lot of sales in a short amount of time, so make sure you’re prepared to move a lot of inventory. If you don’t have a physical product, then make sure you choose what service(s) will be discounted. Have enough on hand, but don’t overestimate demand and end up with too much inventory. Use your own sales history and statistics to estimate your sales volume.
After you’ve properly started planning, you’ll want to find the right time frame for your flash sale. It’s obvious a flash sale held late after midnight and before 8 AM won’t be as successful. Typically, the best sales are in the evening time. Research has proven that the transaction rate was a lot more higher and revenue increased by 30% than the flash sales held in the daytime.
Finally, make sure you deliver on time! Whether it’s a physical product or service you want to ship it out in a timely fashion or deliver service at the earliest convenience. This will create a better sale experience overall and encourage them to become loyal customers, tell their friends, and leave positive reviews.
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If you or anyone you know would like to learn how to create you’re very own flash sale for your business, be sure to jump on a discovery call. Someone from the team will be more than happy to help!