Developing An Effective Promotional Strategy
Three useful steps to getting seen ...
POSTED BY KIRSTY PARRIS ON 02/08/2019 @ 8:00AM
Marketing is often confused with publicity and promotion, but those are just a couple of the components of an effective promotional strategy. Understand all of them, particularly the central role that customers play, and you will be that step closer to success ...
An effective promotional strategy can raise your profile, increase sales and grow your profits!
In order to buy from you, customers must know what you have to sell, which is why promotion is a vital part of the marketing mix. Many business owners and managers think about developing promotional strategies for their firm, but fail to put those strategies into action. Effective promotional strategies can prove profitable if executed properly; however, it takes a lot of work to get it right.
Here are three steps to help you develop an effective promotional strategy for your business:
You must ensure that you are targeting the right people. Once you identify your most appropriate audience you need to work out what it is they want from a product or service similar to yours. You need to determine what it is that keeps them awake at night!
If your product or service offers a solution to their problem, you need to highlight this in order to make your firm appeal to your target audience. You can't sell your product or service to your target audience – instead, you need to sell the benefits of your product or service.
In doing so, you must educate your potential customers as to how your product or service helps them solve a problem, or makes their life easier in a way that they will value.
Do your research
In order to develop an effective promotional strategy, you need to research all of the possible combinations of products and/or services that you can offer to your target audience.
Don't just copy a competitor as you won't stand out from the crowd. Instead, make your promotion more of an 'event' than a simple promotion. You want your promotion to be a topic of conversation – make it interesting, fun and attractive.
How and when
The final piece of the puzzle is to determine how and when to run your promotion. For example, if you have a list of prospects and customers, you could develop a multi-step email campaign that might run for a week or so. If you don't, you can do direct mail or advertising.
There should be a specific deadline, a specific call to action and a specific reason as to why you're having the promotion. If you include all three of these, along with making it a fun event, you'll have a much better chance of making your promotion a success.
If you'd like to know more about developing an effective promotional strategy for your products or services, call me on 07521 790284 or click here to send me an email and let's arrange a coffee and a chat soon!
Until next time ...
More about Kirsty Parris ...
I'm Kirsty Parris and I specialise in helping business owners, like you, to realise the true potential of your business. Whether that is getting you back on track with your business plan or helping to devise and implement new plans that you never thought possible.
Some of my clients see me as a coach, a mentor, a consultant and some even as a financial therapist!
Based near Milton Keynes I primarily work with owner managed and family businesses between London and Birmingham.
I offer a broad spectrum of business development services including business coaching, business growth planning, sales and marketing support, personnel support and systems reviews.
I am not just another business consultant as I see the job through with implementation should you require it and I will work with you on a retained basis as an addition to your team or on a project by project basis...your call...and there is no tie in. You work with me for as long as you are seeing the results.
Your minimum requirement? You need to be ambitious enough to reach or exceed your personal and business potential. Together we will make it happen!
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