Can holiday promotions boost revenues? Our latest research shows that promo activation can increase your revenues up to 300%.
Activating a promo during the holidays can possibly be one of the best decisions you can make to grow your business. In fact, a properly implemented promo will not only lead to increased revenues but it can also improve relationships with your customers. We’ve gathered some data to give you reasons why you should consider activating a promo for the next holiday.
Major Revenue Spike
Our recent research shows that merchants who have activated a promo during the Halloween season experienced a major revenue spike. We took 2 cohorts, 100 small businesses each, from the same industry, with and without activated promo during Halloween season, to compare their revenues.
An average increase in revenues for businesses without a promo during the Halloween season amounted to 18%, and an increase in revenues for those who activated promo varies from a minimum of 30% up to 300%. Based on the numbers, there definitely is a positive effect for businesses to run a promo during a holiday season.
Marketing Opportunity
A holiday promo can spark a human connection by being an avenue to communicate with your customers. It isn’t just about increasing monetary revenue – it’s also about building a good relationship with your customers. Holiday promos can lead to effective and organic viral marketing that can potentially be shared on social media networks.
Convenience of Online Holiday Deals
People want to get the best deals, especially during holidays. Having an online promotion can help you sell non-popular products and drive your customers to spend more. Activating a holiday promo provides you a ground to release new products and enter the market easily.
If you have a Paymentwall account, you can activate promo here.