You’ve probably already heard about about what are flash sales or flash offers, in this article I want to show you the real origin of this practice and why its effectiveness is so good that all the big companies use it.
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What are flash sales?
A flash sale is a type of promotion that lasts for a limited time.
With the advent of the Internet and the new generations, immediacy is becoming fashionable, buying in an impulsive and compulsive way impulsive and compulsive. Companies know this, that’s why flash offers were born, they detected that if they put a product for a limited time, they would create a state of urgency state of urgency in the customer and they would get the sure sale.
In fact, nowadays, Christmas, Halloween or any other important holiday, is brought forward 1 month and a half. But if you play with the feeling of scarcity and put a limited time of purchase, you get a perfect flash sale.
For the flash sale to reach its maximum splendor, the price has to be price has to be lower than usual than usual, but it doesn’t have to be much lower. In addition, if you also take advantage and use the strategy of scarcity by putting limited units, the sense of urgency increases in the customer, you could say that you put a “maximum security lock” for the promotion to work perfectly.
How and when to make flash sales?
If you already know what flash sales are, I’ll tell you the key tricks to know how and when to key tricks to know how and when to do it.
- If you have seasonal products… this is one of the first opportunities to start applying what you have learned about flash sales. If you see that winter is coming to an end and you’re selling coats, the best thing to do is to make flash sales to get rid of all those seasonal clothes quickly, before it’s too late.
- If you want to give visibility to a new product, you can also use this promotion to give visibility to that product for a limited time.
- If, on the other hand, you want to get rid of stock, flash sales are perfect for you. Your warehouse will be cleared of goods you don’t need.
- Use the flash offers as a cross-sale!. You can take advantage of this opportunity to sell at a low price and for a limited time a product, on the condition that you make them take another one.
Advantages of flash sales
Clearly, for this to work well and we can see the real advantages of this type of promotions, we have to know the market very well, in what situation it is and know perfectly who our target audience is and what they are currently looking for.
Once we know all these factors, these are the advantages that we can take advantage of:
- We will be able to customer loyalty if they see that you are giving them a “great discount”, the customer will feel indebted to you in some way and will return to the store. As a result of this, we have the second point.
- Exponentially increase the visibility of your company, whether online or physical whether online or physical and create a good brand image
- As I said before, you will be able to get rid of all the stock you do not need and therefore… the fourth point.
- You will increase sales and income: You can double your profits as long as you understand perfectly what a flash sale is and how it will be carried out.
Disadvantages and dangers of flash sales
As always when there are advantages, there are disadvantages. In a flash sales strategy it’s very easy to end up falling into one of the dangers that exist if you don’t do it right of the dangers if you don’t do things right. Here are the disadvantages of flash sales:
- Letting your brand downThere is a fine line between increasing the trust and reputation of your brand and making customers distrust and see your brand as something that is not what they wanted. If you plan to carry out this strategy, have an organized method and management that you are going to carry out
- Don’t get into the habit of doing flash strategies too often, the customer may detect it and use you only when you give them a discount.
- Miscalculate profit margins and end up losing money on the total transaction.
Characteristics of flash sales
These are the main characteristics of a flash sale (especially online) to be effective:
- Better discounts than the competition.
- Discounts for a limited time.
- Mandatory registration to access the flash sale or subscribe to the newsletter, where you can in future promotions to capture more sales.
- Be close, design a good customer service strategy where they see that you solve all possible objections.
In summary, the world is changing constantly every day, the Internet and online shopping have taken a giant step forward and will continue to do so for many years to come.
So, I hope you already know what flash sales are and how to apply them because, it is one of the strategies that will help you the most to grow your business. You have to keep in mind what a flash sale is whenever you are going to make a promotion. This option is very juicy but as you have seen, you have to carry it out with head and knowing all the factors around you and knowing all the factors that surround you and those that surround your business.