Remember as a kid begging mom for a box of cereal for the prize inside? Or collecting boxtops for a super-duper-decoder-ring? That's the basic idea behind premiums: People love to getting free and/or exclusive stuff.
There are several ways you can use a premium to reward your customers. Maybe you want to sell more creepers and creeper seats. Rather than discount the price, you can throw in a hat, shirt or some other giveaway to stimulate December sales. The shirt with your flag's logo on it may cost you $9, but to the customer it may seem to be worth much more.
I know what you're thinking: Who really wants another T-shirt? Don't underestimate the power of a free T-shirt. A former marketer for a tool manufacturer told me that years ago when they repackaged a boring old product with a T-shirt, their product sales spiked. They sold what they normally sold in two years in about six months!
Have a sales strategy or helpful hint you'd like to share? Send your "30-second sales seminar" to [email protected], and see your suggestion featured here!
