Promotion marketing, whether of a product or service, is one of the most important elements of any successful marketing mix. As a business owner, you engage in promotion constantly, whether or not the action is intentional. Everything from sales and advertising to talking about your business at a cocktail party is part of promotion marketing.
However, without a clear strategy which considers all elements of your marketing promotion from signageÂ to public relations, the chance for success is greatly diminished. Therefore, designing a conscious, deliberate programme which not only communicates to your potential customers but engages them is absolutely essential. As we quickly head into 2015, every business must ask itself: do we have a promotion strategy?
What Is a Promotion Strategy?
The purpose of a promotion strategy is to systematically regulate the communications initiatives between a company and its customers. This sort of coordination includes both one-way communication such as signage and advertising as well as two-way communications such as social media engagement and direct sales. Together, the “strategy” includes the planning, implementation, and control of these communications through a number of channels. There are different direct ways to promote a business, its products, and services as well as several marketing elements that are common to any promotion strategy mix.
Push vs. Pull Promotion Strategies
There are two main ways in which businesses implement a promotion strategy: push and pull marketing. A “push” strategy aims to literally push a product or service onto consumers by putting it directly in their path. Common ways in which businesses execute push strategies are through trade shows, direct sales, and supply chain management. On the other hand, a “pull” strategy operates in the opposite way, attempting to “pull” customers into a business through compelling offers such as sales, referral bonuses, and customer relationship management tactics.
Specific Promotion Strategy Programmes
Designing a promotion strategy for your business is about more than an individual sale, trade show, or sales effort. Instead, it is a concentrated and connected effort to either push a product/service into the lives of consumers or pull them into your business. Combined, a proper promotion strategy includes all of the following:
- Direct Marketing
- Interactive/Internet Marketing
- Personal Selling
- Public Relations
- Sales Promotions
By deliberately planning a promotion strategy from the offer down to the follow-up, businesses position themselves in such a way that capitalises on consumer needs and habits, maximising their returns. Executed on its own, any one element of a promotion strategy has the potential to draw in customers and make sales, but its effectiveness is greatly reduced without supporting programmes that enhance the customer’s engagement and keep your business on the tip of each customer’s mind.
Are You Ready to Design Your 2015 Promotion Strategy?
Putting together an effective promotion strategy for 2015 needs to start now so that you are ready to hit the ground running in the New Year. Beginning with offers and outreach, consider how to best promote yourself and your products/service to current and new clients. This mix of elements varies from industry to industry.
However, once you are ready to get the ball rolling your local Signarama storeÂ is ready to help you design the signage you need to get your message out and implement a promotion strategy that makes 2015 a year to remember.