Businesses nurture their relationship with their customers through the use of various marketing communication tools. Many companies use a retail markdown strategy, where they permanently lower a product’s price, to encourage customers to purchase the product, which, in turn, will help the company accumulate sales.
On the other hand, other businesses use sales promotion methods to increase sales, boost customer satisfaction, and acquire new customers. However, although sales promotion activities are great marketing strategies to retain and engage with customers, these activities are only short-term marketing tools, which aim to create urgency and generate instant revenue.
Flash sales, buy one get one, coupons or discounts, giveaways, free samples, and special offers are only among the sales promotion activities businesses use to encourage customers to purchase the products they are promoting. Accordingly, many companies also take advantage of the technological developments, which have paved the way to the creation of automatic cash register, self-checkout systems, and electronic shelf labels.
In this new retail era, making use of technology can reduce labor costs and improve employees’ work efficiency. Consequently, Businesses using electronic price tags can change the price on the shelf label of a product they are promoting conveniently.
Many companies, including SoluM, provide electronic shelf labels to enhance a business’s sales promotion activities. SoluM’s electronic shelf label is empowered by the all-new Newton system and has features that can increase a business’s performance level.
Newton offers a high-resolution layout that can turn heads and capture the curiosity of a walking customer. Besides a high-end display, it also has a built-in NFC that lets customers link their mobile phones to a company’s online website, allowing them to check how much discount they can get or redirect them to a tab where they can download a digital coupon.
Additionally, Newton comes with an interactive button that allows customers to call store staff when they want to inquire about a product that is being promoted or if they need assistance on the promo mechanics of a business’s ongoing sales promotion activity. This infographic from Solum lists five reasons why Newton is the key to businesses’ sales promotions.