Question

Many students come into this class and think that advertising and sales promotions are the only way to attract customers to buy products. Since you have learned that there is more to marketing than just these two things, what current promotional techniques would you consider using to promote the products for a company. Use examples to demonstrate how companies are using promotional techniques to market to customers differently and will continue to innovate promotions for the future. Since the old model of selling product traditionally is still important to understand, how are companies using this model to improve the employees’ ability to sell products at different points in the consumer acquisition process. Use examples to demonstrate how companies are evolving this model. Lastly, where do you see the future of marketing going? You can finally share your opinion of marketing and your ideas of how it will change in the future.

Answer 1

No one is going to buy a product or service they haven't heard of, nor will they buy it if they don't know what your company offers. This is why a great promotion strategy is vital to grow your business. Some companies use more than one method, while others may use different methods for different marketing purposes. Regardless of your company's product or service, a strong set of promotional strategies can help position your company in a favorable light, while opening the doors for future communication.

Contests as a Promotional Strategy -

Contests are a frequently used promotional strategy. Many contests don't even require a purchase. The idea is to promote your brand and put your logo and name in front of the public rather than make money through a hard-sell campaign. People like to win prizes. Sponsoring contests can bring attention to your product without company overtness.

Social Media Promotion -

Social media websites such as Facebook and Google+ offer companies a way to promote products and services in a more relaxed environment. This is direct marketing at its best. Social networks connect with a world of potential customers that can view your company from a different perspective. Rather than seeing your company as "trying to sell" something, the social network shows a company that is in touch with people on a more personal level. This can help lessen the divide between the company and the buyer, which in turn presents a more appealing and familiar image of the company.

Mail Order Marketing -

Customers who come into your business are not to be overlooked as they have already decided to purchase your product. What can be helpful is getting personal information from these customers. Offer a free product or service in exchange for the information. These are customers who are already familiar with your company and represent the target audience you want to market your new products to.

Product Giveaways and Samples -

Product giveaways and allowing potential customers to sample a product are methods used often by companies to introduce new food and household products. Many of these companies sponsor in-store promotions, giving away product samples to entice the buying public into trying new products.

Point-of-Sale Promotion and End-Cap Marketing -

Point-of-sale and end-cap marketing are ways of selling product and promoting items in stores. The idea behind this promotional strategy is convenience and impulse. The end cap, which sits at the end of aisles in grocery stores, features products a store wants to promote or move quickly. This product is positioned so it is easily accessible to the customer. Point-of-sale is a way to promote new products or products a store needs to move. These items are placed near the checkout in the store and are often purchased by consumers on impulse as they wait to be checked out.

Customer Referral Incentive Program -

The customer referral incentive program is a way to encourage current customers to refer new customers to your store. Free products, big discounts and cash rewards are some of the incentives you can use. This is a promotional strategy that leverages your customer base as a sales force.

Causes and Charity -

Promoting your products while supporting a cause can be an effective promotional strategy. Giving customers a sense of being a part of something larger simply by using products they might use anyway creates a win/win situation. You get the customers and the socially conscious image; customers get a product they can use and the sense of helping a cause. One way to do this is to give a percentage of product profit to the cause your company has committed to helping.

Branded Promotional Gifts -

Giving away functional branded gifts can be a more effective promotional move than handing out simple business cards. Put your business card on a magnet, ink pen or key chain. These are gifts you can give your customers that they may use, which keeps your business in plain sight rather than in the trash or in a drawer with other business cards the customer may not look at.

Customer Appreciation Events -

An in-store customer appreciation event with free refreshments and door prizes will draw customers into the store. Emphasis on the appreciation part of the event, with no purchase of anything necessary, is an effective way to draw not only current customers but also potential customers through the door. Pizza, hot dogs and soda are inexpensive food items that can be used to make the event more attractive. Setting up convenient product displays before the launch of the event will ensure the products you want to promote are highly visible when the customers arrive.

After-Sale Customer Surveys -

Contacting customers by telephone or through the mail after a sale is a promotional strategy that puts customer satisfaction first while leaving the door open for a promotional opportunity. Skilled salespeople make survey calls to customers to gather information that can later be used for marketing by asking questions relating to how customers feel about the products and services purchased. This serves the dual purpose of promoting your company as one that cares what the customer thinks and one that is always striving to provide the best service and product.

The ways in which businesses reach consumers have changed drastically since the “Mad Men” days of traditional marketing. What once depended less on data and more on psychology and creativity now relies on both in order to work well. Marketing is no longer limited to billboards and print ads. Since the inception of the Internet, marketers have had to trade suits and ties for sprinting gear as they race to catch up with the fast-changing technology of the modern-day. As smartphones get better, online advertising has become a new way in which marketers can and should reach their audience. But how exactly has technology changed traditional marketing and to what effect?

The Birth of The Website -

81% of shoppers research online before making a purchase. If you don’t have a company website in 2016, you must have some magic word-of-mouth marketing. With more men and women working long days, people just don’t have the time to stroll along a local street or flip through the yellow pages to find that perfect business. Now, it’s all about search engines and eye-catching websites. One of the most common ways users conduct their preliminary research is through review websites. Having an account set up with Yelp, TripAdvisor, and Google MyBusiness, and encouraging happy customers to leave great reviews is a great way to increase your chance of enticing a potential buyer in the “research phase.” 61% of people read reviews before purchasing a product. When you have that many people relying on reviews to make purchase decisions, it’s important you stand out with your website. It’s amazing to think about how much the website has impacted marketing strategies across the globe. A website in many ways has become the front door of a business. It either welcomes customers with open arms or sends them away in frustration.

The Website Enhances Traditional Media -

When considering traditional media outlets, be aware of how the website enhances your brand image. With ease of access to literally millions of web pages, users have a hard time trusting a business that doesn’t have a website. When you’ve got a great television ad or hot radio spot, the consumer will not rely on that ad alone to form their opinion of your company. If you have a great television ad, users will be curious to see what else you have in store. If they look across the web and see no website to back it up, you might have just lost a customer. It’s so important that your business approaches marketing holistically. Although certain outlets will deserve more attention than others depending on your target market and demographic, it’s without a doubt that having both a traditional and digital presence will make your brand more memorable than if you’re relying on one or the other.

ECommerce Vs. In-Store Purchases -

Entrepreneurs of the 18th and 19th centuries would be ecstatic at the opportunities E-Commerce provides. Business owners no longer have to invest in a brick and mortar store in order to sell products. They can sell everything from a well-designed website complete with Ecommerce. What’s even better is that there are no geographical limitations and anyone almost anywhere can buy one of your products without waiting in line or even getting out of bed. With the convenience of E-Commerce, store owners fear the death of physical establishments. However, studies have shown that the fusion of Ecommerce with traditional brick and mortar establishments is the best way to improve sales for both your online customers and your local shoppers. Advertise in-store-only sales online to encourage foot traffic. Incorporate an interactive app into your store experience to bring online shoppers off the couch and into your store. There are plenty of ways E-Commerce can add to the traditional marketing experience.

Big Data and Tech Must Work With Creatives -

Since the rise of the Internet, marketing research has increased drastically. User data has influenced marketing decisions across the board, and now marketers must find a way to utilize both the tech side of digital marketing without sacrificing the proven success of traditional marketing, which involves an understanding of consumer motivation. Data and statistics cannot determine a successful marketing campaign alone. Humans may be predictable, but the heart of any good advertisement is the story it tells.

Marketers recommend using a bit of intuition when relying on data to form a marketing strategy. Digital marketing makes ads readily available to the mainstream with phenomenal speed through a plethora of technology-based platforms: Youtube, social media, apps, podcasts, and so on and so forth. Though technology continues to improve and impress, Lisa Bridgett, sales and marketing director at fashion retailer Net-a-Porter believes that marketers cannot rely on technology alone. She states that one needs “to be dextrous in these two different worlds,” the two worlds being information and marketing.