Promotions can play a huge role in your marketing strategy. They can be used in a number of different ways; whether you want to increase interest during a typically quiet period or cash in on busier times of the year.
Although it can be tempting to get carried away with some quick deals, it's always important to have the bigger picture in mind. Your promotions should not only create an influx in sales in the short term but help you generate more sales all year round.
Take a look at these 8 considerations when running your promotions this year - and beyond!
1) Plan a Promotion Strategy
Don't be reactive; identify when you promotions will take place, which markets they will target with what objectives, using which techniques. This will ensure variety and synergy in promotion efforts.
2) Limit Promotion Objectives
Any given promotion should focus selectively on one or two objectives and use the products/services that can be expected to have maximum effort.
3) Consider Promotion Tie-Ins
You could offer a package or bundle as part of your promotion. This could have extended benefits to other products that you could later promote independently.
4) Consider Promotion Overlays
To break through the promotion 'noise', using several techniques at once to create a blockbuster event can be very effective.
5) Motivate Your Target Audience
The most effective promotions are those which aim to simultaneously create a 'push' and 'pull' effect by motivating all parties in the selling process - e.g. consumers, sales teams, marketing teams, etc.
6) Balance Creativity with Simplicity
Promotions open up the opportunity to be highly creative which is great! However, make sure that your promotion is easy enough for your target audience to understand and participate in.
7) Set a Time Limit
A time limit should be set for each promotion to encourage immediate actions. Promotions of long lengths can lose the excitement and lack enough urgency to effective.
8) Evaluation Promotional Effectiveness
You should measure the impact of each promotion. For example, your promotion that directly effects sales figures, make sure you understand how much you were making form the product before the promotion so that you can understand it's effectiveness.
We hope that you found this useful! ​
To find out more about how we can help take your business to the next level through social media marketing, get in touch via the contact form on our website.
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