Flash Sales: 5 Steps with summer sales just around the corner, many companies are planning how to make the most of this period and generate significant revenue. You’ve probably got some communications in mind. However, before you begin, you should keep in mind that bulk SMS can be a great catalyst for this campaign. Their high opening rate of 98% and the fact that 90% of messages are read within three minutes of receipt make them a channel you should definitely consider in your marketing strategy to boost sales.
So if you’re planning your private sales or clearance sales, check out our guide: 5 Steps to Planning a Flash Sale That Works .
What are flash sales?
A flash sale , also called a lightning sale, is a israel whatsapp number data discount or promotion offered for a short period of time. Limited-time sales can be a great way for merchants or businesses to sell a large quantity of products quickly. Because they are limited, they create a sense of urgency among shoppers and encourage impulse buying.
Like any type of promotion, it carries two risks. Flash sales can reduce the retailer’s margin and attract bargain hunters who have no intention of becoming regular customers.
However, these sales are an excellent way to build loyalty, increase revenue, and brand awareness . They’re also a great way to attract new customers.
5 key steps to run a perfect flash sale
- Define your goals
- Determine your target market
- Choose the right moment
- Evaluate the demand
- Bet on multi-channel hyperpersonalization: how to enhance customer experience offering
1. Define your goals
By taking the time to define their objectives, brands can offer more targeted sales and select the most relevant metrics before any launch. If the primary objective is acquiring new customers, for example, companies can focus on customers who have already expressed interest in the brand but have yet to make a decision. Or they can also target people who currently follow a competitor with a similar offering.
On the other hand, while it’s useful to compare overall revenue and incremental revenue metrics over a single sale day, it’s important for your brand to collect data that measures long-term performance . Shopify recommends calculating customer lifetime value (CLV) for this purpose.
CLV = customer value x average customer lifetime
Customer value is defined as follows: Customer value = average basket x average number of purchases
By analyzing new customer purchases aero leads during flash sales, brands can evaluate:
- cross-sell
- increase sales
- invite people to join your loyalty program.
Businesses can then calculate the CLV for customers acquired through a flash sale.
Thanks to CLV, brands can evaluate the quality of customers acquired through their flash campaigns and use this data to improve their segmentation and future promotional operations.