Digital promotions can play an important role in getting across the benefits of your product or service to your customers. Well-executed digital promotions can increase a business’ customer base and increase a business’ profitability.
Typically, a promotion is a planned and coordinated event meant to sell a specific product or service for a limited time. A main goal of all businesses is for your brand to be recognizable and remain in the minds of customers. Customers will hopefully take note of the value of the relevant product or service and make the purchase.
Promotions can act as a clear voice to announce your brand’s message to various audiences. Multiple platforms can be utilized including television, radio, emails, billboards, magazines, and social media.
Benefits of promotions:
- Increase brand awareness
- Increase Customer Traffic/ Attract Customers
- Generate Revenue
- Turn Over Inventory
Promotions help (flow/push) customers through the decision making cycle. Limited availability offers can create a sense of urgency in your customers that persuade them to make a purchase. The buyer’s decision making cycle goes from awareness, interest, and desire to action.
What makes a great promotion?
- Creates differentiation between other products and competitors. Customers need to see the value this product offers.
- Create news. A promotion creates new content, which can drive more visitors to your site or social media platform. Promotions also create an opportunity for spreading information about the business through word of mouth.
- Creates upsell or cross sale opportunities. Promotions can often drive a sale of multiple items when items are bundled or related to one another.
- Creates a testing opportunity. Promotions allow you test new ideas and products and measure how they do in the marketplace.
- Drives urgent decision making by customers.