You’ve heard the term BOGO. You’ve probably even taken advantage of it many times whether it was for shoes, hamburgers or amusement park tickets. It means Buy One Get One…either free or at a discount. That is promotional marketing, and it worked, didn’t it?
Promotional marketing is an offer that persuades a customer to take action, like your buy-one-get-one free hamburger. Promotions are typically considered to be contests or sweepstakes, coupons, sampling, or discounts and can be accomplished both online and offline.
Everyone loves getting something for nothing. Contests don’t have to be elaborate. A simple prize that is thoughtfully considered to entice your target market is sufficient. It’s a great way to increase brand awareness and customer acquisition.
According to the Promotion Marketing Association (PMA) over 76% of the population still uses coupons from time to time. Again, careful consideration as to the type of coupon and subject of it is needed. A coupon does not have to be solely about getting a potential customer to make a first time purchase. A ‘bounce-back’ coupon is a great way to get your customers to make a return purchase. By offering them a coupon for a future purchase you have practically ensured that your sales will increase.
People LOVE free stuff. While most people think that a sample item has to be a physical product, you can also offer samples online. Things like e-books, a list of important tips, or an online diagnosis of your website, for example, are great tools to draw potential customers in and leave them wanting more.
This is probably the most popular method of promotion marketing next to contests. By offering a discount to new or existing customers (or clients) you entice them to make a purchase they might not have considered in the past. We recently employed a discount promotion with our Full Service Marketing Audit in June. We offered tiered service offerings at a discounted price to help our clients and potential clients discover how their marketing efforts are paying off. This was a successful program for us as were able to increase our client base and provide a service for existing customers that they were not previously aware of….mission accomplished.
Any business that wants to increase their sales can use promotional marketing strategies, including B2B, like Marketing Relevance. As with any type of marketing strategy, a plan should be put in place. Some considerations when you draft your promotion plan are:
• What is the goal of the promotion?
• Who is the target market? – are they existing customers or new/potential customers
• What types of incentives work best for your target? (contests, coupons, samples, discounts/special pricing)
• How will you measure the promo’s success?
• What is your budget for the promotion?
Promotional marketing is a great way to perk up interest in your products or services. They provide a break from the norm and offer fun and creative ways to promote your business. Take a look at some of examples that Marketing Relevance has developed for our clients.
And stay tuned for another exciting promotion from Marketing Relevance coming soon….
Marketing Relevance is a full service marketing agency that makes things happen for our clients. We take personal pride in developing products that our clients love and are successful with. Contact us with any questions promotional needs or any other marketing services. Call 847-259-7312 or visit our website.