Getting off on the right foot
You might have come up with the most revolutionary new product or service, simply improved on an age-old favourite or found an innovative niche that could be the next big thing. You will likely have created a business plan, set up a bank account, got your logo designed, and possibly developed a website. However, unless you promote your business, no one is going to find you.
In a pre-internet age, you might have gotten away with opening in a locale and possibly putting a few leaflets through doors, but competition can be so tough these days that businesses need to get used to singing their praises and giving customers a reason to try their product or service.
The Marketing Mix
Promotion is one of marketing’s famous Four P’s. The others are product, place and price. In truth, all the disciplines intertwine and cross over to form the Marketing Mix. Understanding them is essential for any entrepreneur looking to turn their idea into a successful business. These days, the Marketing Mix has been expanded and can include seven elements if you add people, process and physical evidence. However, for this article, we will focus primarily on promotion.
Promotion is all about getting your message out. This could be in the form of paid advertising, coverage in the local press, social media posts, and getting your brand in front of the right influencers or channels to get customers talking about you and recommending your business to their friends. It can all sound rather daunting in the abstract, but there are ways to simplify it and golden rules to consider.
Avoid confusion
You need to have your brand identity and positioning in place before you start promoting what you are up to. Otherwise, you could find yourself confusing potential customers. Before going out publicly, you need to ensure your company and product names are available and not copywrite protected, the URLs and social media pages you want have not been snaffled up by someone else and your brand, and have a visual identity that is unique and noticeable.
Not always so easy
While the above can seem rather obvious, it is worth bearing in mind what happened to an indy band in the UK recently. Leicester-based Easy Life started performing and recording music in 2015. Their personality was cheeky and irreverent, and they attracted a loyal fanbase; their two studio albums climbed to No. 2 in the UK charts. Unfortunately, as they attracted promoters and more fans and moved from small venues and lowkey festivals to mainstream pop bands, they caught the attention of easyGroup, who own easyJet. The company filed a lawsuit against the band, claiming its name infringed on a trademark.
Despite the band having formed years before easyGroup acquired a lifestyle brand called easyLife, it argued the band had imitated the easyGroup logo and had a tour poster featuring a plane similar to an easyJet one on it. While the band may have been able to go to court and win, they realised the process would suck the creativity out of them and could drag on for years. It is worth remembering that what you produce and promote needs to be unequivocally yours.
Types of promotion
It is worth remembering that promotions broadly fall into two categories:
Money off
Value-added
Money off covers everything from coupons for the next purchase to free shipping and instant savings. While it can be tempting to use money off next or this purchase to encourage people to buy, it can also mean that people automatically expect a discount the next time they purchase, and it can be the start of a slippery slope. Value-added promotions offer your customers something in addition; it could be as simple as some desirable stickers or an opportunity to win a big prize. Remember, you must promote your promotions and get the word out on social media and your website.
The lure of a bonus
Added value promotions can come in many forms and be used to attract new customers and retain existing ones. One industry sector that uses bonuses very effectively is the online casino industry. They operate in a highly competitive space, and there is often little to differentiate one online operator from another in terms of the games on offer. However, they can offer widely ranging bonuses from free spins to deposit matches and no deposit bonuses. Some of the most popular ones, including the recently highlighted best UK casino bonuses, are reviewed here. The casinos attach carefully worded terms and conditions to all their bonuses to ensure customers do not just play and go.
Be upfront and clear
When your business is considering setting up promotions, you must ensure they comply with local laws and codes of practice. For example, a business will need to make it clear who the promoter is, where and how they can be contacted when the offer is available and who the offer is available for. Putting on a closing date is essential unless you want the offer to be indefinite. People are often sceptical if an offer looks too good to be true and the details are hidden in the small print. Be prepared to be upfront about any limitations of a promotion, and you will get better customer engagement.
Get the correct permissions
Ultimately, almost every business needs to build repeat business. It is much harder to attract new customers than it is to sell to existing ones. Therefore, when you make a sale, be sure to collect customer details and get them to opt in to allow you to contact them in the future. If you segment your data carefully, you will be able to see which customers are buying regularly and those who might require a little prompt.
Conclusion
The considered use of sales promotion tools and techniques can boost business and create happy customers. They really should offer a win-win situation to buyers and sellers alike. Time to get brainstorming and developing your creative offers, bonuses and prizes.
