A Flash Sale is a discount or promotion offered for a limited time that many businesses choose to implement during end-of-season sales. Thanks to this strategy, a client of IMP increased more than USD40,000 in revenue within three days and generated new demand to reduce the inventory before restocking.
The client from IMP desired to increase their revenue by the end of the month and drive more sales on the current inventory before restocking.
After considering some options, IMP and its client offered 15% off on selected products within three days. And the primary marketing channel is email.
IMP sent emails in 2 days, one at the start date and one at the last date. With that in mind, the content always contained time restriction wording such as “limited” or “last chance” to compel the audiences and buyers to explore this offer.
Following a data-driven approach, IMP only sent emails to customers who have opened in the last 30 days since they tend to interact with the email more than the rest.
After three days of Flash Sale, the business gained positive performances:
- Open rate: more than 40%
- Click-through rate: 2%
- Total revenue: over USD40,000
Leveraging the fear of missing out, the brand successfully implemented the campaign and drove revenue growth.
Besides increasing sales, the Flash Sale allows the brand to make money on the current inventory and make space for more in-season and in-demand items. When implementing Flash Sale, businesses should consider the following factors:
- Flash Sale needs the element of surprise so the audience doesn’t know to expect them. And its buying period is always shorter than the regular sale to create a sense of urgency.
- Flash Sale also requires a deep discount to make it stand out.
- Only select the products that have been on the shelves for too long or have too many in stock. And the brand will be able to make room for new, more desirable merchandise.
Now that you know how IMP implements Flash Sale to increase revenue in a short period. You can contact us today to tailor more effective tactics for your E-commerce business!