Flash Sale: A Closer Look at the Phenomenon and How You Can Benefit From It
We’ve all been there, fascinated by the magic of flash sales. The rush to complete a purchase within a given period gets on all of our nerves. Why? Because nobody wants to lose out on purchasing their favorite product at a fantastic price.
Flash sales are truly remarkable in a lot of ways. They come flying into your inbox, and then you are left with no choice but to click on them, because again, ‘Only 30 mins left to purchase your favorite product X at 50% discount!’
A popular marketing strategy, flash sales, is used by eCommerce businesses to gain customer traction and boost sales by a significant number. They compel even the most distant customer to purchase on your website. Even though they seem fascinating, there is more to what meets the eye to flash sales.
Creating a successful flash sale for your customer involves understanding the details around it, but most of all, understanding your customer. The businesses who take note of these factors can create a successful campaign, while those who don’t miss out on taking advantage of flash sales benefit.
But, don’t worry, we’ve got everything covered for you! Read on more to find out everything about flash sales.
What are Flash Sales?
Flash sales are one of the most popular marketing tactics used by businesses to drive eCommerce sales. They help generate sales in a brief duration by creating a feeling of missing out on the customers.
Flash sales are offered for a short period to the customers, and the products are usually limited in quantity. Therefore, the products are generally sold at high discounts and generate a sense of impulse buying in the customer. Since the value is time capped, there is not much for you to lose in a flash sale.
While some eCommerce businesses leverage flash sales as promotional campaigns once in a while, others have their entire business strategy based around flash sales. Either way, if you know the process behind unprecedented profits from flash sales, you can ace it for your business.
5 Ways Your Business can benefit from Flash Sales
Write a Provocative Copy for your Flash Sale
One of the most fundamental things that you must do to derive profits from flash sales is to write a copy that compels the user to go ahead and make a purchase. Try to create a sense of urgency with your words and how the customers would be missing out on a valuable product if they didn’t purchase it. Make sure that the numbers in your copy are convincing. Be it the discount you’re offering to your customers or the time frame, make sure they fulfill the purpose. For example, if you write a copy that says ‘10% discount for the next few hours!’, chances are you’ll fail to draw your customers’ attention. Instead, write something like, ‘2 hours left to avail $10 off on product X.’
Personalize a Flash Sale
You have to understand that not every customer might be interested in your discount, no matter how big it is. And that’s because it is not on the products they’d like to buy. This is where personalization kicks in. Understand which segments of your customers are eyeing which products. Maybe some customers abandoned their cart in your store, or others just take a look at it now and then. Target these customers with flash sales on the products of their choice. This way, you will be able to make the most of your lost customers and at the same time earn profits without much ado.
Display a Timer
Displaying a timer on your flash sale can significantly impact creating an impulse in the buyer. When the clock is ticking, people have a fear that they are missing out on something. This draws them to make a purchase quickly in your store. Whether you’re sending an email campaign or announcing a flash sale on your website, make sure you have a timer in place. Take a look at the example below-
Highlight Your Top Selling Products
Another great way to make the most of your flash sales is to highlight that some of your products are fast selling. One way to do this is to add a ‘back in stock’ section and offer discounts on these products. When customers see that these products have been added again to your store, they get an impression that they are highly in demand. This ultimately makes them purchase such products due to FOMO.
Alternatively, you can also include products with a ‘last chance’ tag. Such a label implies that products will be soon out of discounts if not purchased within a flash sale period.
Create a Permanent Flash Sale Page
Why not create a permanent landing page on your website where you regularly add products for flash sales? This way, you can always have customers returning to your website to check what’s new on the flash sale section. Alternatively, you can also host flash sale events on your website and share the page’s link with your customers through different mediums. Check out the example below-
Flash sales can be a fantastic way to make money. However, you have to ensure that you focus on the customer experience by fulfilling the order on time. There is nothing that destroys the customer experience more than a delayed or damaged product. Choose the right logistics provider like Shiprocket and deliver an adventure with your products.