From mass retailers to product-specific brands, raising awareness through promotion is one of the most crucial aspects of marketing a product. Whether the purpose is to boost sales or to build brand recognition, there’s no doubt that the power of a product promotion can transform your business into a thriving success story.
The end result of a promotional strategy can make or break a brand, which is why so many retailers opt for tried and tested techniques for a successful product promotion. Today, we’re bringing you the 4 golden rules to follow when marketing your services. From selling your product face-to-face to raising brand awareness both online and through event marketing, our principles of promotion will leave you feeling confident and excited about your next marketing opportunity.
1. Utilise a range of marketing techniques
With so many different brands competing for attention, it’s no longer enough for a business to dedicate their time to just one marketing tactic. Advertising is everywhere, so consider how many methods you can combine into your next promotion.
- Experiential marketing: with many brands choosing to make an impact face-to-face at marketing expos, promoting a product directly to the client has fast become one of the most crucial ways to generate sales and raise product awareness. Use event management software to plan the best experience for your attendees, alongside utilising experiential marketing tactics with roadshow trucks and exhibition trailers, and your impactful display is sure to make your company stand out from the competition
- Referral marketing: with the rise of social media, word-of-mouth marketing has moved into a digital age - thanks to the liking and sharing of posts. Encourage customers to spread the word in return for a future discount or the chance to win a competition, and your products will soon be selling themselves
- Viral marketing: as more and more of our daily lives move online, the latest marketing strategies are in hot pursuit. In 2018, 90% of households in Great Britain have access to the internet, meaning spreading the word online is a sure-fire way to help you reach your audience. Create a buzz about your business by investing in viral marketing tactics. Whether it’s a video, current craze or a memorable hashtag or catchphrase, this online campaign will have a dramatic effect on your brand awareness and product promotion
2. Ensure omnipresence across on and offline platforms
With the nation glued to their phones, billboard advertisements and printed marketing materials can be easy to miss. Grabbing the attention of potential shoppers on the high street is vital - but digitally accessing your demographic can be just as important.
- Facebook: leading the way as the most popular social media platform in the world, Facebook facilitates everything from online event pages to live video upload capabilities. Whether you create a viral campaign or invest in sponsored advertisements, make sure you’ve logged into Facebook to generate maximum interest in your products
- Twitter: a strong contender for one of the best social networking channels on the market, Twitter is the go-to place for businesses looking to go viral with their short and snappy marketing messages. With most posts offering up to 280 characters, this platform is dedicated to generating a buzz with its trending service. Make the nation aware of your strong brand identity by sharing photos and interacting with potential clients on this platform
- Instagram: with brand design and product packaging dramatically affecting purchasing decisions, it’s no surprise that so many businesses are turning towards this photo-sharing app. Put the products you’re promoting directly into the eye-line of followers by sharing photos and encourage them to make a purchase online by offering a unique discount code on your story
- Snapchat: revolutionising the way that we broadcast our news, Snapchat has become the nation’s favourite fast-paced app - and it’s largely thanks to the Snapchat Story feature. With platforms such as Instagram learning from this success story, there’s no denying the power of sharing live videos across the globe. Encourage your online audience to follow you on Snapchat, and consider investing in your brand’s own Snapchat filter. Users love discovering new filters, making this quirky way to spread the word a fantastic marketing opportunity
3. Make it profitable
Spreading the word about your range of products and special offers is vital, but it’s equally important to consider the profitability of the marketing exercise. As well as minimising profit margins in the short term, a successful product promotion will always involve the investment of time and money in the form of advertising campaigns. Take into account what the purpose of the campaign is - as, in comparison to boosting sales, building brand awareness can often lead to a lower generation of profit. Carefully consider the expected income from the promotion, and tailor your special offers to ensure that you don’t make an overall loss.
- Consider low-cost advertising: wherever you’re based, attracting potential customers is vital to make your product promotion stand out from the rest. Consider alternative advertising choices like online and word-of-mouth marketing. While they may be relatively inexpensive, there’s no denying the impact that they can create
- Build a good relationship for the future: dropping your profit margins can be damning in the short-term, but a price promotion should also be designed to boost sales in the future. Customers choosing to trial your promotional product will automatically start to build a sense of brand loyalty, meaning your price drops can actually be incredibly profitable in the future
- Encourage spending with impulse purchases: whether it’s your approachable sales team or well designed store layout, appealing to the impulse buyer is an undeniably valuable way to transform your promotion into a success. Place similar products around your main promotion, such as protective cases next to a mobile phone stand, and this subtle prompt will no doubt lead to customers increasing their overall in-store spend
4. Offer audiences what they want
A price promotion and impactful advertising campaign will no doubt influence the potential customer’s buying decisions, but offering your demographic the products that they want will significantly improve the probability of them making a purchase. Whether it’s an impulse purchase or customers are attracted in-store by limited time only offers, remember that the customer is always right - so orientating deals to suit their desires will mean your products are soon flying off the shelves.
- Sell your best-sellers: to boost sales, adjust the price points of the most popular items and offer a discount that’s too good to refuse. During your stock take, look at your previous sales to see which types of products are selling the best, and give your audience the chance to pick up a bargain on something that they really want - even if they didn’t know it yet!
- Show off with samples: whether you’re launching a new product or persuading consumers to consider your brand, offering a free sample is the perfect way to show why your brand has the edge. Consumers can’t resist complimentary products, so offer a freebie to encourage a relationship in the near future
- Reward loyalty: brand loyalty can be the deciding factor when it comes to a customer choosing between products, which means that competition will be fierce when highlighting why your product should be the first choice. Whether you opt for a loyalty reward scheme or a BOGOF offer, make sure you’re encouraging consumers who already buy your brand to spend even more
The slight dip in profit margins will usually be outweighed by the increase of sales, and that can only mean good news for your business. There’s no denying the power of a product promotion, and by following the 4 golden rules, your business will be destined for goal reaching and target exceeding triumph. Delve into your promotional possibilities further and explore our range of event structures to progress both your product and business to the next stage of sales success.