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17-Nov-2020 By - team

What strategies can you use to promote your business?

Small businesses these days have many choices when it comes to promoting their products and services.

Regardless of what your company sells or does, it’s important to learn about who your consumer is so you can effectively target them with your promotion strategy.

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In order to create your brand promotion, it’s critical to gain a good understanding of what makes your product or service unique. Find out where you stand in the competitive landscape and pinpoint what it is about what you offer that is truly different from the others. This will help you figure out how you will promote your business.

 

WHAT IS A PROMOTION STRATEGY?

A promotion strategy is an actionable plan to influence people about your business, generate more leads, and boost customer engagement. It visualises how to perform your marketing strategy and communication, who to target as your audience, and where and when to execute the promotion plan.

Many marketers spend more on business promotion each year, but they receive less. There are too many options and marketing voices, so you have to make sure that your messages are reaching the people you want to approach when you promote your business.

What’s more, it is very difficult to convert people into customers without resonating marketing voices to create emotional connections and arouse interests and demands to your offers.

 

ROLE OF PROMOTIONS

When it comes to business promotion, it is one of the 4 P’s of the marketing mix. It is a part of marketing communication which reaches your target market to gain awareness and foster conversation with prospects and customers.

Promotion helps you to draw the attention of your target, create interest in your products and services, generate demands, and encourage them to purchase from you.

The following are the four main roles of promotion:

 

Build awareness

Making your target audience aware of your products and services. You must identify your target audience, your promotional marketing messages, and your outreach strategies.

 

Foster interests 

Gaining their interests in your business. It requires a well-designed content marketing strategy to provide enough information for lead nurturing, and show uniqueness for differentiation from competitors.

 

Generate demand

Making your products and services desirable. You can share great features and benefits and create an emotional connection with your prospect.

 

Induce prospects to take action

Placing a call-to-action for your target to easily engage and find the next steps. Anywhere you can position to drive conversions, such as your website, digital advertising, and social media.

As you can see, these are following the AIDA marketing models. It means that promotion can contribute to all the consumers buying processes.

Besides, it will help you to establish a stronger relationship and cultivate the repeated customer to stay longer with you.

 

TYPES OF PROMOTION

There are many promotional marketing approaches where you can attract your prospects and customers and draw people into the AIDA process. From traditional promotions like face-to-face selling to digital advertising and the customer loyalty program.

 

Personal (face-to-face) selling

Salespeople from a company give you a sales presentation in person to persuade them. Unlike the other approaches, it is easier to build relationships with you.

 

Traditional advertising 

You can use any paid advertisements to reach a bigger audience and prompt short-term engagement and sales. It is one-to-one marketing, and its costs are based on the bidding.

i.e.) Print ads, billboards, TV, radio, etc.

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Direct marketing

It is direct communication with a highly-targeted audience through marketing channels. It has more chances to get quick feedback and retain customer relationships.

Just think that your company is still breathing just because of your customers. Once customers have used your product and liked it, there are chances that they are going to be connected with you for a long time. Therefore, don’t make a mistake to overlook these customers. You can ask them to share their details in exchange for gifts or services. You can use that information to promote your product in a new market where people are totally unaware of the existence of your product.

The first thing you need to note is that your business is still alive because of the regular consumers who come to your business. Once customers are fully engaged with your products, they will always want to buy from you. However, most businesses tend to make the mistake of avoiding customers in a way; they do not involve customers in sharing information about what they feel concerning a product in question. 

Remember one thing; every customer who comes to your business should not be overlooked. They already made the decision that they are going to buy your products. The best thing to do is get as much information from your customers as you can. You can offer them a product or service in exchange for the information you get from them. The information obtained will help you market your products to a new market that completely know nothing about your products.

 

Social Media

There are various platforms online where you can promote your products and can reach a huge number of audiences. There is hardly any person who is not using either Facebook or Instagram. By using this platform, you can make people aware of your product. You can talk about its uses and how it is essential for them. In addition to this, you can show people how your product is better than other similar product, unlike other promotional strategies which are blindly pushing their product on everyone. You can make sure that your product has reachability to your potential customers who have high chances to get converted if you don’t believe me. Just go and open your Facebook app. You will understand what I am trying to say. There are 90% chances that you will find the advertisement for “Zomato” offering you a 50% discount on your first order. If you are either feeling hungry or it is 12 pm (lunchtime).

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The use of social media as a promotional strategy is direct marketing at its best. Social networking platforms like Facebook, Twitter and Google+ have over millions of users visiting on a daily basis, and this makes it easy for a business to get in touch with people out there, even to a personal level. Social media is a more relaxed environment for promoting your product. Instead of your company ‘trying to sell’ its products to the consumers out there, social media allows you to get in touch with consumers in a more relaxed way. There is a wide pool of potential customers out there, and social media allows you to connect with them easily, all of whom can view your company or business from a different perspective. 

An ideal factor to keep in mind is a business presence on social media. Of course, you want to make sure that you present your business exactly according to your brand. Create content that will inform your readers; those you interact with, about the product your business sells.

 

Sales promotion

Performing a short-term marketing campaign to gain attention and encourage conversion or purchase. You can get immediate responses and interact, but it’s not good for developing a long-term relationship.

In stores, products are displayed strategically so that they come first in the eyes of customers as soon as they enter the store. Stores do this for two reasons: convenience and impulse. Many times, you have noticed a rack displaying attractive offers on a certain product or many products are displayed near the aisle of the store. There are reasons why stores do this. They do this either to boost the sale of the product or when they want their stock moving. This strategy makes people buy certain products impulsive while they wait for their turn to check out.

 

Branded Promotional Gifts 

This is an effective strategy used by many companies to promote their brand. In this strategy, rather than handing out the business card, they print the business name, logo and contact information on a functional gift. For example, companies in Japan distribute millions of napkins with their brand’s name printed on its envelope. The logic behind doing this is that people usually discard business card without even looking at them. However, a napkin is a useful thing people don’t throw away, and there are high chances that it will stay with the person it is handed to, for a longer period of time. This is also the best way to keep your customers happy because people love getting free gifts and a happy customer will definitely bring you more business.

 

Public relations

To build a good corporate image and cultivate a stronger customer relationship, you can provide appropriate information and handle both positive and negative voices from consumers.

One of the best promotion techniques is public relations, which refers to developing a positive brand image in the media. It’s a way to connect with your target audience by sharing favourable information about your business. Companies conduct public relations efforts through press conferences, press releases and media interviews. Often, organisations will also use sponsorships as a public relations method to establish a positive image for their organisation. Small businesses can sponsor local fairs or markets in addition to local kids sports teams.

 

After-Sale Customer Survey

Reaching your customers through telephonic calls or emails or text messages to know about their experience shopping with you does three jobs: 1. It makes your customers believe that you care for them. 2. It opens the doors for promotional activities. 3. Your customer’s feedback can help you to improve your business.

During the conversation, you can also educate your customers about the on-going or upcoming offers on your products. If they are happy with your services, then you can politely ask them to give a positive review online. It will improve the image of your business.

 

Word-of-mouth marketing

It is the process to motivate people to share information about your products and services with others. Since people trust words more from close people than from a company, it will bring qualified leads.

 

Free Product and sample Giveaways 

Product giveaway is a great promotional strategy that guarantees success for an enterprise. Here, you can give customer products as samples. If you are dealing with products like food and other household goods, giveaway could be a great technique to get people engaged in your products. It is important to note that this is a great technique to entice your target audience to purchase from you.

This promotional strategy is used by both small as well as powerful companies. By using this strategy, you can boost the sale of your product instantly. This strategy is mostly adopted by food or cosmetic companies. They provide a sample of their products free of cost and make people try new products. You must have noticed a small counter of some brand in a shopping mall which gives away samples of products to every passer-by, or sometimes they ask for personal details like an email address from people whom they are giving free samples. Later you can use this information to promote your product.

 

Throwing contests for promotion 

This type of promotional strategy is quite frequently used by companies to make a place for their newly launched product in the market. You must have noticed many bloggers and YouTubers posting about their partnership with various brands and asking their customers to do various tasks to get a chance to win the contest. In addition to this, companies also offer a certain discount if a customer enters the code provided by a specific YouTuber or Blogger. Or you can also organise contests in a traditional way such as organising a contest in the store and asking customers to participate in standing a chance to win.

 

Customer loyalty program

A Customer Loyalty program induces your current customers to make frequent purchases and retain them, which brings you great profits in the long run.

 

Customer Incentive Referral Program

This promotional strategy will use your current customers and encourage them to refer your products or services to their families and friends. You can offer them gifts or discounts on their next purchase in exchange for their referral. For example, many e-commerce companies run “Customer Incentive Referral Program” to increase their customer base using their existing customers. This strategy is far less expensive than the traditional style of advertising.

 

Customer’s Appreciation Events

This type of strategy involves throwing a small party for your customers. This small gesture will not cost you as much as fancy advertisements will cost you, but it will improve the loyalty of customers towards your brand. You can also organise small competitions where you can provide gift hampers to the winner, or you can also give them a discount on their next purchase. To make this kind of event more attractive, you can also offer food items like pizza, soft drinks or some other snacks. This will attract customers to your store. Make sure to display products that you want to promote strategically so that it comes in the eyes of people.

 

Causes and Charity

People want to connect with those companies which are giving back to society along with providing excellent services. Therefore, many small, as well as power companies, use this strategy to strengthen their customer base. To do this, you need to tie-up with some charity organisation or an NGO. Then you can advertise your initiative on your social media handles, website, and in your stores so that people become aware of it and will buy your products to do their bit for society. A classic example of this promotional strategy used by a stationery company “Classmate”. Classmates tell their buyers that they will pay “one rupee” for the education of unprivileged children for every product bought by you. This strategy makes the use of emotions of human beings to boost sales. There is no harm to give a try to this strategy.

 

WHY IS A PROMOTION STRATEGY SO IMPORTANT?

Business promotion is one of the most critical processes in marketing. It focuses on how to attract the right audience to your business, introduce your product and service effectively, and convince people to buy it.

Back to what I was saying, with a great promotion strategy, you can drive prospects from the awareness stage into the action stage if you do it right. It allows you to create strong brand awareness, generate leads and build a long-term relationship with your target audience.

Besides, developing a promotion strategy helps you to cut unnecessary promotion costs. Because you target the right audience instead of marketing anyone out there, and they will start recognising you more and choose you over the competition.

With creating a good corporate image in promotions, you can also build a better reputation that brings much more benefits for your business, like word-of-mouth.

Promotion and marketing are essential pieces to a company’s success. Promoting the product allows for potential customers to understand what benefit will be obtained from purchasing the product. Including an effective and well designed promotion and marketing, a strategy will help the company maintain customer loyalty. And incorporating a product life cycle is as equally important since it ultimately plans for generating more sales that potentially translate to increase in profit.

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