Whenever you are looking to boost your sales, increase profits, get rid of old stocks, or get new customers. Flash sale is the sales and marketing concept you should look into it.
Flash sale uses some marketing psychology to persuade your existing or new customers by promoting fear of loss, scarcity, and time-limited deals to increase sales.
This requires a good preparation and planning to go through. Your in-stock products, supply chain, marketing guys, and the delivery team should be intact to produce required results.
First of all, email marketing is the weapon to introduce your new offer to your existing customers. You should send 3 consecutive emails promoting your flash sale. In your first email, you have to write that sale is on. In the second email, write how much discount are you offering and when this offer is going to end. The third email will produce scarcity.
You can write ‘sale is going to end today, hurry up!’ in your last email.
On top of that, same 3 step strategy can be implemented in your social channels. Utilize all your social channels to promote your new offer.
Lastly, Retargeting is your friend. Use that intelligently.