If stats are to be believed, 3-hour flash sales offer the best transaction rates, close to 14%. Even flash sales emails tend to perform better, especially the ones that are sent after 3 pm.
All in all, flash sales are capable of producing a 35% lift in transaction rates
Harness this huge power of flash sales better than your competitors. How? We are here to guide you. Before that, let’s understand what flash sales are in detail.
What are Flash Sales?
If you’re reading this guide, you probably have a good idea about what flash sales are. But we’ll still explain for readers who may not know about it or are planning their first-ever flash sale.
Simply put, flash sales are a type of event where businesses offer their products and services at highly discounted prices but for a short period of time.
The time-sensitive and discount-heavy nature of flash sales prove to be super effective in attracting a large number of buyers.
How Does Flash Sale Benefit A Business?
Flash sales can benefit your business in many ways.
First, of all, it helps you manage your goods inventory. Some products do well in the market, while some are not received warmly by the audience. If you have a large stock of certain products that didn’t sell much, flash sales can help you empty such inventory quickly.
Secondly, it increases the reach of your business and improves your brand’s visibility. Big discounts during flash sales will draw a lot of new customers to your product.
Many products are seasonal, meaning their demand is high only at a certain time of the year. If such products are still lying around in your inventory even after their peak season is over, a flash sale can be useful in offloading such items.
Now that we know the various advantages of the flash sale, it is time to dig deeper. Continue reading!
How to Promote Flash Sales on Social Media Platforms?
‘No wonder, you would like to do things right and get high returns on your investment. This is why we are here with the most important steps to follow to execute a successful flash sales campaign.
Start a Pre-Sale Campaign
If you want your flash sale to attract a lot of buyers, you need to generate some buzz for it in advance. And a pre-sale campaign on Facebook and Instagram is the way to go. Create compelling ads on social media sites that will catch the audiences’ eyes.
When running those ads, set your objective as ‘Conversion’. By doing so, you’re basically telling Facebook algorithms that you are goal is to get more people to make a purchase. So Facebook will display the ads accordingly, targeting more people who are likely to make purchases actively via social media ads.
In addition, the response to your pre-sale campaign will also give you a better idea about how successful your flash sale will be. Statistical analysis of your pre-sale ads will be a good indicator of what groups of audiences are likely to buy your product.
Create an Event for Your Flash Sale
Facebook event is a great way to create audience engagement. In fact, in certain cases, the Facebook event could be more effective than ads. Ad copies are limited in terms of screen space and characters. Event pages can provide more detailed information about the flash sale, such as what products and discounts to expect.
It also gives insights into how much interested the audiences are. If many people mark the event as ‘interested’ or ‘attending’, your sale is likely to be successful. On the contrary, if you don’t get much response on your event page, you can analyze what your campaign is lacking and find ways to improve it.
Target Your Audiences Smartly
Both Facebook and Instagram offer different methods and approaches to targeting audiences. The first thing you need to keep in mind is to segregate the target audience. Plan in advance if your products cater to people of a certain age, gender, or any other category, and target your ads according to it.
A useful tip is to choose ‘Reach’ as your marketing objective while setting the ad campaign. It will convey the algorithm that your motive is to reach as many people as possible, and the ads will be spread over accordingly.
Also, it’s better to take a separate approach for regular customers and cold audiences (people who haven’t heard of your products or are not regular buyers). Cold audiences require a more lucrative approach, while your regular customers might be a bit easier to attract.
Publish Regular Countdown Posts
If you want your flash sale campaign to enjoy greater visibility on social media feeds, you must post regularly. You can create scheduled posts in advance, or publish the posts manually from time to time. For example, a week before your flash sale event starts, you could publish a countdown post for it twice a day.
It is useful because it will prevent audiences from forgetting about the event, and serve as a daily reminder. As the event approaches closer day by day, it will also create much-needed anticipation among buyers.
Set Discount Rates Properly
All the above methods will not yield results if the discount rates in your flash sale are not lucrative enough. However, you don’t want to bear a loss either. If your prime objective is just to clear the inventory and not make revenue, you can set discount rates that will help you to just breakeven.
But if you want to earn some revenue as well, you must decide on the discount rates with proper planning. You’ll have to find the most appropriate rate that will entice the buyers while still making some profit on your end.
While conducting surprise flash sales could prove to be beneficial, promoting your flash sales beforehand is the right way to go. Follow the methods we have listed in this post to promote your flash sale on social media, and we’re sure that you’ll be more pleased with the results.
What are your views on this? Do let us know in the comments below.