A smart way to offset the cost of promotions is to keep your business funds in a high-interest savings account. One excellent example of this is Maya Business Deposit, which offers SMEs a 2.5% per annum interest rate. The interest earned from this small business banking online account can help cover a portion of the expenses of running discount promos or giveaways. By choosing an account with competitive interest rates, you can generate passive income and ensure that your promotional efforts do not strain your financial resources.

Rather than slashing prices across the board, consider bundling complementary products or services together. This encourages customers to spend more while feeling like they’re getting a great deal. If you’re running a neighborhood café, for example, it might be a good idea to offer a "Buy a sandwich, get a free coffee" promo instead of simply reducing the price of sandwiches. This increases the perceived value of your promo while ensuring you maintain a healthy profit margin.

Another way to preserve the funds in your SME business banking account while running a promo would be to require a minimum purchase from customers. To encourage customers to spend, offer them discounts and freebies that they can qualify for upon surpassing the minimum spend threshold you’ve set. For instance, offering "Get 10% off when you spend PHP 2,000 or more" motivates customers to add extra items to their carts. This way, the average transaction value increases, offsetting the impact of the discount.

Many modern consumers are still compelled by FOMO or the fear of missing out to quickly make up their mind about limited-time purchases. When customers know a deal is available for only a few days, they are more likely to act fast rather than delay their purchase. Use this to your advantage by staging flash sales, 24-hour discounts, and "weekend-only" promos. These events can drive sales spikes without requiring long-term price reductions.

Launching a promo does not mean you have to offer discounts and freebies indiscriminately. Instead of applying promotions to everyone, you can focus on rewarding your most loyal customers. Implementing a loyalty program or giving exclusive deals to repeat buyers fosters long-term relationships and ensures that discounts are given to customers who are already likely to return. For example, you might offer a "Buy 5, Get 1 Free" deal for frequent buyers instead of lowering prices for all customers.

Instead of offering straightforward discounts, train your team to upsell and cross-sell products strategically. If a customer is purchasing a laptop, suggest a discounted accessory package rather than simply lowering the laptop’s price. This approach increases the overall sale amount while keeping profit margins intact.

It’s also an option to tap into your network of entrepreneurs and the strong connections you’ve fostered with other businesses. Collaborate with SMEs to run promotions that add value without heavy discounts. For example, a fitness studio and a smoothie bar could offer "Get a free smoothie with every workout package." This type of partnership benefits both businesses by attracting customers while keeping costs low.

Rather than cut prices, consider adding value in other ways. These can come in the form of free consultations, extended warranties, or exclusive content that can make your offer more attractive without reducing your revenue. If you own a beauty salon, for instance, you could offer a free 10-minute head massage with every facial instead of discounting its services.

If you need to offer a discount, tie it to pre-orders or advance payments. This ensures guaranteed sales before you commit to inventory, helping you manage cash flow. For example, a bakery can offer a small discount for customers who order and pay a week in advance.