I know it’s only May but if you’re in Australia that means the end of the financial year is not far off and it really means that if you want to host a promotion for it you need to start planning your offers now.
If you’re an eCommerce business you’re probably used to planning ahead. You’re probably ordering Christmas stock and organising your December promo calendar already.
Anyway, the end of the financial year is almost here and in this episode I wanted to talk about 7 marketing ideas for your EOFY offers.
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Transcript
Hello, and welcome to the new school of marketing podcast. I know it’s only May but if you’re in Australia that means the end of the financial year is not far off and it really means that if you want to host a promotion for it you need to start planning your offers now.
If you’re an eCommerce business you’re probably used to planning ahead. You’re probably ordering Christmas stock and organising your December promo calendar already.
Anyway, the end of the financial year is almost here and in this episode I wanted to talk about 7 marketing ideas for your EOFY offers.
- Offer a gift with purchase
To incentivise people to purchase, or to purchase more, you can offer a free gift with purchases over a specific amount. One of my clients used to do this once a year and it always worked really well.
Select something that you know your audience will love and promote it on your socials, to your database and in-store if you have a physical location. - Offer free shipping
Another option is to offer free shipping, and if you already do this for orders over a certain value, you can lower this amount to incentivise more sales.
Make sure you clearly state that it’s for a limited time only and tell them when it ends.
There will be people that have been watching your store but haven’t bought yet because of having to pay for shipping. - Host a give-away
This one requires you to be super organised, but you could host a give-away to build awareness, attract new customers and grow your email list.
I’m always in two minds about hosting give-aways because you don’t just want to attract freebie hunters. You really want to attract people who would potentially become customers, so think really carefully about how you would do this and how you would host a give-away.
To attract better quality leads I would use it to build my email list vs my social following. People have to be that tiny bit more invested to give you their email address vs a quick click on the follow and like buttons.
Also, if you do host a give-away, make sure you check the rules and regulations of your state or territory. Sometimes you need to register give-aways and competitions. - Create a gift guide
Gift guides aren’t just for Mother’s Day or Christmas. You can create a gift guide for anything really.
If you have some business friends who are also offering something special for EOFY, why not get everyone together and make a guide listing all of the awesome end of year specials. - Create a live schedule with daily promos
Going live on Facebook and Instagram is still a really great way to get more traction on both platforms. You can create a schedule of daily promotions and publish your schedule in advance so that people can tune in to your channels each day to unlock the promotions. It’s a fun way to get people watching and engaging with your content, which you can later use to retarget them with ads (if you want to). - Use retargeting and abandon cart ads
All throughout the year you’re posting on your socials and emailing your list (at least I hope you are), so you’re building an audience all year long that you can use in retargeting ads.
Show your EOFY offers to everyone who has engaged with your content on Instagram and Facebook, to people who have visited your website, to people who are on your email list.
Also, don’t forget to set up separate ads to people who have abandoned their cart. We all need a nudge sometimes to complete our checkout. - Email your list
Anytime you have a sale or a promotion you should offer it to your list first. They should get the royal treatment really. They’ve signed up to hear from you and that should give them some priority and exclusivity in my opinion.
Give your email list first access to your promotions, especially if you have limited stock and mention it in your emails too to create some urgency.
You can use a number of these ideas in combination with others, and I suggest that emailing your list should always be a part of your marketing activities.
The end of the financial year is a great time to clear some stock and make space for new products. People seem to also expect sales at the end of the financial year so it makes sense to host a sale or a promotion.
I do want to add though, that if you’re already hosting other sales throughout the year that you might want to limit the discounting. There are other ways to promote without discounting your items.
Personally I’m not always a fan of sales and discounts, I often get more excited about a gift with purchase and especially when I didn’t expect a gift with my purchase.
Those gestures are the ones that make your customers loyal fans, vs people who always seek a bargain.
Ok, I’ll stop my little rant right there and let you get on with creating your promotion strategy for the end of the financial year.
A quick wrap up of the activities:
- Offer a gift with purchase
- Offer free shipping
- Host a give-away
- Create a gift guide
- Host daily promos going live
- Use retargeting and abandon cart ads
- Email your list
