March 13th marks the start of OpenSky’s 2014 #MarchMadness Sales Event. Use this four-day event as an opportunity to give your sales a boost.
When: Thurs, March 13 – Sun, March 16th
Official Hashtag: #MarchMadness
How to participate: Visit your posting tool and schedule a #MarchMadness post. That simple, that easy.
How to Participate + Merchandising Tips
Create a #MarchMadness post.
Post about any of the products you’d like to showcase in the sale by selecting the #MarchMadness option in your posting tool. By selecting this option, your post will automatically be set to run during the set duration of the event and include the qualifying hashtag. Creating a post this way ensures that you’ll be included in the main hashtag page where most shoppers will be trafficking the site during this event. It also increases your chances of being included in emails promoting this sales event via our automated exposure algorithm. Read more about hashtags here.
Start scheduling your #MarchMadness posts today to increase your chances for additional exposure. Early bird gets the worm.
Offer a discount of 30% (or more) off MSRP
During the #MarchMadness sale, shoppers will have an eye out for value – so do your best to give it to them. Understandably, this kind of promotion may not apply to all merchants, but if you can swing it, take advantage of the opportunity to drive sales.
Merchant Success Tips
1) Try discounting from the MSRP of your product, and not the current sale price. This will give you a little more wiggle room with pricing and margin, while still providing value to the shopper.
2) Can’t afford to discount all of your products (and inventory) at 30% off MSRP? No problem. Pick one of your best products and run a sale at 30% off, but only offer limited quantities at the sale price. This way, you can limit the losses and risk, while still ensuring participation, even if at a minimum.
Don’t worry about Rewards Credits
During the #MarchMadness event there won’t be any major credit event that coincides with the sale. Yes, there will be select shoppers who have previously unlocked credits or new members who join and receive credit, but by and large that’s a small subset of OpenSky members. That being said, don’t spend too much time factoring rewards credits into the equation.
Best of luck giving your March sales a boost!