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Competition in the business world is increasing by day. Thus, every company must be good at managing their marketing strategies so that they are not inferior to other business competitors. Doing sales promotion is one of the most important strategies. The purpose of sales promotion is to market the goods you offer to the general public in the hope of increasing sales.
Want to know more about the importance of sales promotions to win customers' hearts? Check out the following below!
What is a Sales Promotion?
In short, sales promotion is a communication activity made between companies and consumers. With these activities, the goal is to influence consumers so they will be interested in the products you offered. In other words, sales promotion is a technique to provide consumers with product-related insights so that they will buy according to their wants and needs. The purpose of sales promotion is really simple, to make consumers interested in the product being marketed and thus decide to make a purchase.
What are the Types of Sales Promotions?
Technically, several types of promotions can be done by any businesses. The types of sales promotion are as follows.
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Physical Promotion
Generally, this promotion will be carried out in a physical environment, for example, special events such as exhibitions, bazaars, festivals, concerts, and others. The seller will open a stand or booth to offer products to consumers. This type of promotion has advantages including being able to reach consumers directly. By applying this technique, it is hoped that there will be a connection between the seller and the buyer so that a purchase transaction can be created.
To do physical promotion, you can start by opening a booth first, afterward, you can try to engage or attract customers to your booth by providing things that they might need during the event. If the event is done outdoors, why don't you try offering a free customized water bottle with your logo to the customers? In exchange for the water bottle, ask them to take a look at your booth! To make customized water bottles with your company logo, you can check out My Own Water. They offer a low price bottle with a higher value!
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Promote With Traditional Media
The next one is promoting through traditional media. For example via print, such as newspapers, magazines, and tabloids, or electronics, such as radio, and television. Not only that, but you can also use banners, billboards, and many more.
The advantage of this type of promotion is that it can reach consumers widely. However, please note that this technique will cost a very large amount of money for the manufacturing process.
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Promote With Digital Media
In this current era, sales promotion can also be done digitally. Usually, it will be carried out through the internet and also social media, such as Instagram, Facebook, Twitter, and others. The advantage of this digital media is that it can reach consumers from various groups broadly with efficient time and costs.
How To Create a Sales Promotion Strategy?
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Select Audiences According to Target Consumers
The first step of sales promotion is to select an audience according to the target consumer. The trick is to understand more about the customers you already have. Afterward, you can send a survey regarding information related to themselves and your business. Afterward, you will get a clear idea about the criteria of users who buy your product. By considering these factors, you can focus your sales promotion on those who are interested.
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Create Rational Goals
An important step in sales promotion is rational goal setting. As a seller, you must be able to determine exactly what you want to achieve when using this technique. For example, you can map success or failure in doing business, and identify aspects that need to be changed and are considered less effective when doing business.
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Limit Product Availability
In this era, FOMO, or Fear of Missing Out is a trend that is currently sweeping society. Thus, this can also be a good strategy for your business. People who feel they will be “scared of missing out” or experience anxiety if they miss something interesting, are the easiest type of customers to hook. Therefore, you can take advantage of techniques such as limited-time offers, gifts with purchases, and so much more!
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Promote Widely and Wisely
The next step of sales promotion is to try to market the product widely and wisely. As a seller, you have to know how to attract customer attention to the product. For example, by providing in-store signage, and information on company websites to create print and online advertisements.
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Offer Real Product Value
Next, you should also make sure the products you offer have value and benefits for consumers. Usually, consumers tend to be more interested in products that can provide solutions to their problems. Therefore, considering how to offer value is an important step.
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Do Regular Evaluation
The last step of sales promotion is to evaluate. This of course can help to measure results and then can be used as a benchmark or reference for making the next strategy. Apart from that, you also have to ensure that the customer experience is the core component of every designed sales promotion. This is because consumers are the main targets of promotional success.