How do you promote your business? Answer: promotional marketing
You know you need great marketing to get your company and its products and services in front of your target market or ideal customer. Creating an effective promotional marketing program will drive customers right to your door, website, inbox, or phone and entice them to buy what you have to offer.
What is Promotional Marketing?
Promotional marketing is one aspect of your marketing program and includes the details of how you will entice customers to take action. The advantage of a promotion is to create some excitement for your business or company, to make your business stand out by standing out from the competition, and to make your business stand out to your target market – as many people as possible.
Some companies take promotional marketing to the next level through the use of promotional products (also known as promotional specials, swag, or giveaways). What makes this type of marketing so effective is its ability to influence customer behavior, encourage action, create goodwill, and be remembered long after the promotional event. Promotional marketing, if done right, has a lasting benefit beyond other forms of advertising.
Who uses promotional marketing?
All businesses can use promotional marketing. A business that offers a bonus, gift, or added benefit with a customer’s normal purchase benefits from the use of promotional marketing techniques.
How can we get more customers in our store? Television commercials, print ads, and direct mail offers are the most common methods of delivering the promotion to the target market. Think about the envelopes of mail that arrive at your house, full of coupons and special offers. A restaurant, for example, may have TV commercials offering a free drink with a lunch order. Or, cosmetic companies offer a free gift with purchase, or a department store advertises a 50% discount on the sale of a selected type of item. The promotion draws attention to that additional element or benefit, which companies hope will encourage customers to visit who otherwise would not.
Other companies use a technique known as point of sale marketing. This helps increase sales of sales products that can be difficult to sell individually. For example, cell phone companies may offer peripheral items such as chargers and headsets at a reduced price if you purchase a cell phone with that item. (“Buy a phone, get a headset for half price”). Since the customer is already there and has committed to the larger purchase (the phone), they are more likely to purchase the additional item because they are attracted by the savings.
Creating Your Promotional Marketing Program
Step #1 – What is the Plan?
Careful thinking and planning are the first step to effective promotion. What is the OBJETIVE? What results are you looking for? Increasing revenue, building brand awareness, or launching a new product are just some of the strategic objectives of promotional marketing. Your company can also promote from within with team building, employee recognition or security awareness programs.
Step #2 – Who is the target?
Before you begin, you’ll need to identify your target audience. Who is the ideal client? Who is best suited to buy what you have to offer? What are their needs and how can your products and/or services meet them? Then create your sales materials with this target audience in mind. The goal of any promotional marketing program is to get people to buy your product or service by creating an attractive proposition that requires timely action. You may want to generate different messages depending on the communication methods you are using. Remember that this is a work in progress, so don’t be afraid to change your strategies depending on what works and what doesn’t.
Step #3 – How to Make the Promotional Offer?
There are dozens of ways to get your message across, including social media, internet marketing, custom web landing pages, promotional products, and direct mail. Remember that your target audience will dictate the method of advertising. For example, if your target market is people 65 and older, you may want to rely more on direct mail or a print ad; However, if your market is under the age of 25, you’ll definitely want to take advantage of the newer technological methods such as online marketing, social media, and text messaging.
Step #4 – What are the results?
To judge the promotional campaign, it is essential to measure the program. How many did you offer? How many actually used the offer? How much new sales revenue was generated from the offer? Without measuring the promotion, there is no way to improve and set the bar higher so that the next promotion is better. Promotions are a way to test the market. Does your promotion generate more sales with a discount, free gift or bonus? Promoting your business helps build excitement about a current service or new product launch.