When you discuss your marketing plans with others, it’s important to use the correct terminology. The people in your company need to know exactly which goals are being addressed by each promotional activity. If you take time to study promotional marketing, you will be better informed to speak to other professionals about your marketing needs.
Promotions are activities that help drive interest in your brand. Typically, brands promote their products and services through advertising and direct selling. However, promotional marketing is accomplished when a brand takes their image, products, and services to the general public. Examples of promotional marketing include guerrilla marketing and canvassing.
Benefits of Promotional Marketing
Every business is able to benefit from incorporating promotional marketing strategies into its mix of other marketing strategies. However, the timing for getting your company involved in a promotional marketing event depends upon a variety of factors. Before you decide whether it’s the right time to create a promotional marketing strategy for your brand, take a look at these key benefits. These three benefits are enough to remind every business owner that there’s hope for finding more leads in the future when they take time to work on promoting their own business. Understanding how to use promotional marketing techniques takes practice, but there are plenty of marketing professionals available to help.
One of the best parts of organizing promotional marketing events for your company is the exposure that will likely occur throughout the process. From the very beginning of the process, you will be discussing your company’s objectives with professionals who are invested in your brand. Your employees, marketing team, and business partners want to see your brand gain the type of exposure that is required to rise to the top of your industry. Promotional marketing will help your brand find a larger audience, listen to the opinions of consumers, and sell more products in the areas where promotions occur.
New business owners make the mistake of misunderstanding what brand awareness means. It’s important to have the public aware of your brand, but it’s equally important to cultivate brand awareness within your company. Creating loyalty and starting conversations among customers is part of attracting buyers. However, there needs to be a cohesive brand behind each transaction in order to generate any kind of loyalty from a customer. Additionally, the staff at your company should be made aware of the brand image of the company for which they work. When you cultivate brand awareness, you are instilling loyalty among customers and the people that make your business possible.
Critics of promotional marketing will argue that it’s one of the more difficult marketing strategies to measure. However, there are plenty of innovative ways that professionals in the world of promotional marketing are measuring returns. By studying sales trends at retail locations within close proximity to recent promotions, marketing professionals are able to measure the effectiveness of promotional efforts. Another way to measure the return on this strategy is to target specific goals for the promotion, such as getting more engagement on your company’s social media channels. Returns for promotional marketing strategies come in immeasurable forms as well. For instance, trade shows offer unique opportunities to work with other professionals within your industry.
Who Uses Promotional Marketing?
In order to understand whether promotional marketing will help your business achieve its goals, you need to take a look at who else uses promotional marketing strategies. It’s easy to list out promotional strategies we have seen in our busy lives. However, it’s not always possible to figure out why each promotional strategy was launched. When you study a particular strategy, be sure to look for motives behind the promotional efforts. Is the company new to the world? Do they have a new product to offer? What are they trying to accomplish through their promotions? Additionally, you should make an effort to figure out who the promotional activities were intended to reach (i.e. demographics).
Which Businesses Use It?
Promotional marketing is appropriate for businesses of all sizes. However, there are certain situations when promotional marketing is expected. For example, companies in the entertainment industry rely upon getting people to buy tickets to see their productions. Ticket sales would not be possible without promotional efforts taking place weeks before the premier.
Even small businesses benefit from the use of promotional marketing. Small shops take part in farmers markets and other community events to spread the world about their brands. Any business that feels bound within the walls of their own physical location will suffer when it comes to finding new leads.
For Which Products Is It Used?
Promotional marketing is a good strategy when you are releasing a new product, and it is also beneficial when you are updating product specifications. When you have formed a new company or created a new product, you need to do everything you can do to reach out to new customers who haven’t heard of your brand. Updating the specs of an old product offering could go unnoticed without promotional activities.
Promotional marketing is used for products in nearly every industry. Paper companies want to show off their products to consumers by giving free samples in guerrilla marketing efforts. Frozen food companies cook their dishes in public spaces to remind people to look out for their brands at grocery stores.
Is It Right for You?
If you are starting a new business, promotional marketing is right for you. If you stay in business for a substantial amount of time, you will need to revisit past promotional marketing activities. Understanding whether specific promotional activities are right for your brand involves analyzing your marketing plan’s objectives. Determine whether specific promotional activities will get your company closer to reaching the objectives set forth in your company’s marketing plan. Every serious business owner should make time to review their business plan; analyzing objectives and expectations will help you determine if these strategies are right for your business.
How To Plan a Successful Promotional Campaign
Planning a successful marketing campaign starts out by committing to careful research. The types of goals that your company has will help you determine which types of actions you’d like consumers to take. Working with professionals in the marketing industry is a necessary component of planning a successful promotion. In addition to the people that help plan your event, you will need a team of skilled professionals to help manage your promotion.
Researching Your Industry
The key to mastering promotional skills exists in developing a relationship with consumers. You need to know what triggers their interests in order to create a promotional campaign that meets the needs of your audience.
Researching your industry will help you understand what your competitors are doing. The way that competitors choose to market to consumers through promotional marketing efforts might inspire your team to follow a similar path. Try using the same techniques that worked for your competitors in your market, or you could try using the new techniques in another market that has more room for growth. The age of digital shopping has changed promotional marketing to allow many businesses to effectively market and sell their products in locations that are outside of their native markets.
Working With Promotional Professional
When you are busy with the many intricate details that are part of running a business, you might not have enough time to invest in mastering this valuable skill. It’s possible to research the topic enough to grasp the basic concepts behind promotional marketing for your brand. However, you need to remember that this is a skill that people develop through years of hard work and practice. If you think you can get by without speaking to marketing professionals, you’re going to go through some phases of experimentation that might cost your company opportunities to grow within its industry.
Working with marketing professionals will help to ensure that your promotional activities are successful. In order to be successful, your promotion needs to reach a targeted audience, and those individuals should feel convinced to take action. Marketing professionals will help your team make plans, and they’ll have answers to your most complicated questions.
Managing Promotional Events
When your brand decides upon the perfect event to accomplish its goals, you will need to consider the logistics behind managing your own events. Management for promotional events could come from within your company, or you could have a third-party staffing company provide the right talent to achieve the objectives of your promotional marketing event. While it’s a good idea to have someone from your company attend promotional events, it’s not always possible to cover events when they are happening in multiple locations simultaneously. When you are not able to have a staff member at promotional events, you may wish to request a photograph of the event as proof. These photos are a perfect addition to your company’s social media pages as well.
Stats About Promotional Marketing
- According to Referral Candy, the social media enterprise known as Foursquare set up a promotional marketing activity that brought them an additional 100,000 checkins. The promo event was executed at the SXSW convention in 2010. When other companies were taking a traditional route by pitching tents around the convention, the marketing team from Foursquare set out to create an actual foursquare game with sidewalk chalk and fun prizes.
- Tinder’s infamous promotional marketing activities brought their dating app to scout users from college parties. An impressive effort lead to the app gaining 10,000 new users.
- Creating a promotional marketing activity that is memorable could help dramatically increase brand awareness. Gold Toe used a wacky idea to get hundreds of people to take pictures of their brand to share online, and it earned press coverage by executing a bold marketing strategy in the public arena. When the brand launched its new line of underwear, they made an extra pair large enough to fit on a bull.