Sep 05
2008The Secret To Promotional Marketing
Filed Under (Marketing) by Aazdak Alisimo on 05-09-2008
Tagged Under : Marketing
To run a successful business, you need customers. The billion dollar question is how to go about getting them. For many companies, the answer is found in promotional incentive strategies.
Promotional incentives are exactly what they sound like. They are carrots to generate interest. If the prospect takes the desired action, they get the promised incentive. This can work in a number of ways, so a few examples are in order.
People should want to vote, but a majority do not. To change this, the musician Sheryl Crow is using a classic version of the hanging carrot strategy. She is giving away free music to her fans if they register to vote.
This represents the classic carrot on the stick approach. Registering to vote in an election is something every American should do, but do not. By offering free music downloads, a promotional incentive, Crow gets the conduct she desires.
Large scale gambling favors the house. Knowing this, casinos will bend over backwards to get you in their establishment. This is why the offer enticements such as discounted rooms, lavish pools, music, cheap food and so on.
When it comes to a lack of subtlety, the bluntest promotional strategy is found in infomercials. They used to be on only late at night, but now they are on throughout the day. Heck, they even have their own channels in some cases.
Infomercials focus on one thing. They try to find the optimal tipping point to generate the most sales for the least expense. The do this by piling one promotional item on top of another until the deal is just too good to resist.
So, what can we take from all of these approaches? The answer is very simple. The strategy works. This is proven by the simple fact that you see the strategy used over and over and over.
Do not just run out and start a promotional campaign. Take some time to think. The key is to figure out what you want the prospects to do. Do you want them to buy, ask for more information or sign up for a newsletter?
Next, think through what potential promotional incentive could be used to entice people to take the action. If you want to promote the sale of a product, think about offering accessories to the product for free.
As with any marketing strategy, you need to try and test different promotional strategies. Some will work great and some will not. Figure out the winners and you are on your way to year around sales.
