How to Develop a Promotional Strategy for your Business
Deciding the best strategy to utilize in promoting your company can be a difficult task especially if you’re a new business with a limited budget. With so many promotional strategies easily available, the main issue is usually where to start.
Depending on your business some strategies will work more effectively over others. When deciding which medium to use consider how far it will reach, the frequency of use, the audience that uses this media, and what you can expect for your budget. Most of all, ensure your target customer will see the message in the first place.
You also need to know the demographics of your target audience. Are they teenagers, 20-something’s, middle age or seniors? These details will help you ensure that you have a strong response rate. If you’re marketing to an older demographic then in-home sales presentation may work best. If you’re selling life insurance placing Google Adword ads on websites relevant to your audience is a good strategy. Direct mail letters and promotional products would also be a good idea in this case.
Now if you’re marketing to students, then sending out effective email blasts, having a strong packaging design, using coupons and incentives, as well as, the various online marketing strategies will ensure your marketing campaign is successful. The promotional strategy you utilize should always correlate with your end goal whether it’s to generate awareness of your business, build your customer list or attract customers away from a competitor.
Here are all the marketing strategies available to you.
Sales Incentives – Using discounts to get attention with coupons, discount codes and loyalty incentives.
Public relations – Using the press to your advantage by holding press launches, PR events or fundraisers and using press releases.
Personal selling – One-to-one communication with a potential customers through salesmen, dealer or showroom sales activities or at trade shows.
Direct marketing –Taking the message directly to the consumer using promotional products, mail order catalogs, personalized letters, email blasts, telemarketing, point of sale displays and packaging design.
Online marketing – Using online tools to generate awareness using your company website, social media websites such as Facebook or Twitter, blogging, mobile phone promotions using text messages to provide offers and discounts, YouTube, E-commerce, Google Adwords and online directories.
Traditional Media – A mass media approach to marketing using outdoor billboards and posters, business directories such as Yellow Pages, magazines or newspapers ads, TV commercials and radio commercials.
Choose wisely or work with an experienced marketing firm before you start using your limited budget.