This includes advertising, public relations, personal selling, direct marketing, and sales promotions. A promotional mix should be designed to show your target audience the benefits, features, and values of the products or services you offer.
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This helps differentiate you from your competition and drive sales. Creating the right promotional mix will depend on your business, customers, and industry.
Set clear goals
There are several elements to choose from. Advertising is the paid promotion and presentation of ideas, services, and goods by a specific sponsor to a mass medium. This includes radio or Facebook ads, magazine advertorials, TV commercials, ads on websites or blogs, print ads in magazines and newspapers, or any other paid promotion. Public relations PR is the practice of deliberately managing the spread of information between your company and the public.
This usually takes the form of news stories, expert interviews, press releases, or other media coverage. PR aims to promote and publicize a business without paid advertising. Personal selling involves one-on-one interaction with potential buyers to share the benefits of your goods or services, with the ultimate goal of convincing them to buy. This can happen in person, over the phone, through an online chat, or any other kind of direct interaction.
Sales promotion is any non-media marketing communication aimed at increasing consumer and market demand, as well as improving product availability. This includes coupons, holiday sales, customer loyalty discounts, or other deals aimed at increasing sales. Other elements that could be included in your promotional mix include guerrilla marketing, product placement, sponsorship , and any other communication that directly promotes your business, products, or services.
The good news is marketers can still earn attention with the right sales promotions, especially when those deals are personalized. Sales promotions are a great way for your organization to encourage potential customers to buy your product or sign up for your service. Done well, they boost short-term sales but also attract new customers, prompt positive online reviews, and lead to repeat purchases. But it can also feel like our days are overrun with sales promotions.
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Chances are, your inbox is packed with marketing emails from businesses offering discounts, special prices, buy-one-get-one offers, flash sales, and free-shipping offers. By definition, a sales promotion is an activity applied for a predetermined, limited period of time, with the aim of increasing consumer demand and stimulating sales.
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Sales promotions give potential customers an additional reason to consider doing business with you and your company. Offering a discount is a tried-and-true way to win over customers, boost sales, and move stock.
Objectives of Sales Promotion
Discounts can be limited to a specific point in the customer journey — for example their first online order — or a seasonal or holiday promotion. Advances in mobile technology mean customers can now collect and store their points in an app or digital wallet on a smartphone, and access additional features such as tracking information.
Coupons are another promotional tool that has been transformed by technology. You can send them directly to customers via email or text message.
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Do you have a new product you want to launch? Why not take a tip from companies like Costco and hand out samples in store, or include them with online orders? Sampling works well with products such as health and beauty products, perfume, and food. Offering a gift to consumers who buy a specific product or spend a certain amount can also help convince customers to make a purchase or spend more than they might have otherwise. The difficulty with any marketing campaign lies in locating those individuals who will eventually become loyal customers.
A smaller percentage of those customers will become loyal customers. By instead predetermining a target audience, businesses can put their finite marketing resources to better use. The same can be said for sales promotion campaigns. To understand the best target audience for your promotion, you first need to understand more about the customers you already have.
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