Fixed-fee Promotions and Promotional Marketing
Promotional marketing
Promotional marketing is a marketing strategy that uses special offers and giveaways to raise customers’ interest in a product or service to influence a current or future purchase. Both the company and consumers benefit from this strategy. There are several ways of attracting new customers. Product promotion is necessary to make your brand visible to the public with the expectation of attracting new customers. To achieve success with promotional marketing, the company should as much as possible aim to conduct the promotion within the targeted audience.
A company may decide to employ one method and other times a mix of several strategies will achieve the projected results. Regardless of the product or services, employing the right set of promotional strategies can help put your brand visible and in a favorable light to both current and existing customers. There are several strategies that a company can employ in promotional marketing.
Digital campaigns
Digital campaigns are designed and rolled out using social media sites such as Facebook, Twitter and Google+. Social networks have tools that give the company an opportunity to tailor their promotional campaigns to a specific niche making it possible to connect directly to their target market. Digital campaigns will not only drive traffic towards the company’s online shops, they also help build brand loyalty and engagement. A well tailored campaign that blends physical and digital promotional strategies will achieve the desirable goal of connecting with customers and potential customers leading to increased sales.
Contests and Sweepstakes
When using contests as a promotional strategy, participants are required to perform some activity and the winner is selected based on the best performance. It’s different from sweepstakes which entice consumers to submit entries into a draw for a chance to win featured prizes. Contests and sweepstakes are designed to promote a company’s brand and make it visible rather than conducting a hard sell campaign. By sponsoring the contests, the company gets to bring attention to their products.
Product Giveaways
Everyone loves to receive free gifts and as a result product giveaways tend to generate a lot of interest. Companies promote new products by conducting product giveaways to potential customers. This gives them an opportunity to sample the new product with the aim of enticing them to purchase.
Customer referral incentive program
This is a promotional strategy whereby the company encourages current customers to refer new customers to them. Those that participate have a chance to win cash, free product, etc based on number of new customers referred.
Cause and Charity
This is where the company promotes their product while at the same time supporting a cause. This can be done by informing the customers that a section of the profits from the product bought will go towards a certain charity/cause. Giving your customers an opportunity to contribute to a cause close to their hearts creates a win win situation.
Branded promotional gifts
Branded gifts form great promotional materials. When a company Good distributes quality promotional materials such as T-shirts, pens, mugs et, the customers will be sure to use them. This will put their logo out there and continue selling their brand long after the promotion has ended.
