If you’re looking to launch a new product or service, you’ve probably thought of several promotional tactics you can use to successfully introduce them into the market. But that’s not the only benefit that promotional marketing can do for your venture. Promotions are important tools that, when conducted successfully, can boost a company’s reputation tenfold which in turn, translates into higher revenue, regardless of whether or not you’re coming up with new products.
To help you decide what next promotional campaign you can implement for your own business, here are a few tips about the practice that every business needs to know.
1. Don’t forget about your existing customers.
Here’s one of the biggest mistakes that some companies make when they think about promotional marketing. It’s actually a lot cheaper and easier to promote products to existing customers. Why? Well, they already know your brand.
They have tried and tested your products. So there is no reason for them not to be interested in a brand new item you’re planning to sell. But here’s the tricky part: making sure that you can capture their attention enough that they would want to try your new lineup. This entails a bit of research and the right timing to figure out how to properly sell more to existing customers.
2. Make use of social media.
One of the biggest benefits of technological advancements since the dawn of the internet age is social media. Social networking sites make it easy to connect people to people, and businesses to each other. So there is no reason for you not to take advantage of social media marketing in your business.
You can come up with witty events and share competitions all online to promote your new products and lineup without hassle. The organic reach of social media shares is unbelievable. So if you haven’t even opened up a social media account for your business, then you’re missing out not just on promotional marketing but on the other benefits of social media like direct customer sales and market research.
3. Boost sales with influencer marketing.
If you’ve exhausted efforts on social media, and you have extra cash to spare, then another effective way to promote your brand is via influencer marketing. Choose a celebrity, personality, or influencer that connects to your audience and have them use your products. If you can find someone who actually uses your products already, then that’s even better. If not, be prepared to shell out a little more and patiently wait for the good review. Remember, even if you purchase sponsored content through influencers, that doesn’t mean they would always say good things about your product so choose wisely.
4.Offer promotional products in season.
Holding seasonal promotions is one of the oldest tricks in the marketing book. It has been that way because it’s highly effective. Seasonal promotions are those tied to specific seasons and holidays that aim to attract the attention of prospective customers at a certain time. These kinds of promotions can include hosting events, offering discounts, or giving away seasonal items like summer essentials or back-to-school materials, depending on your target audience. Among the best time to launch seasonal promos include Christmas, Valentine’s Day, and the Fourth of July.
5. Try your hand at a referral program.
Having a referral program is much like hitting two birds with one stone, that’s why it’s popular. Referrals give additional benefits to loyal customers, while at the same time, helps businesses increase their market share. But, understand that this must not be your primary marketing strategy unless you want to be grouped together with multi-level marketing companies that have a certain bad public reputation. Use referral programs wisely and with caution to avoid any issues.
6. Reach out to customers after promotions and events.
These days, not all businesses measure customer engagement. However, knowing how good your product or service fared can’t always be measured by your sales. In fact, sales after a promotional stint is a gauge of how well you executed your marketing plan. But this final tip is not about making more money, it’s about making sure that you put in the extra mile to allow your customers to feel important. In order to maintain a good relationship with your customers, you must reach out through different means of engagement marketing.
That’s about it for our promotional marketing tips. I hope you’ve learned something from the article, especially on what kind of promo marketing strategy you’ll be applying next time. Don’t be afraid to experiment but remember to plan things out first. Once you find a promotional strategy that works really well with your brand, stick to it, enjoy it, and master it before trying something new.