(Newswire.net — June 23, 2020) — Promotional marketing is any form of offer that increases the customer’s interest in your products. It can be a product discount or a gift or both. This advertising strategy comes with numerous advantages that shall be discussed in details below.
1. Better Customer Relationship
Your business should strive to build a good relationship with consumers. Promotional marketing helps to strengthen those relationships by creating trust between both parties. For example, you can host a monthly competition on your social media pages. Ask your followers something about your products and reward the first 5 responses with free giveaways and coupons. People will appreciate your honesty and kindness. As a result, they’ll become more loyal.
2. Lead Creation
Your business can spend thousands of dollars on paid advertising because you want to generate more leads. Unfortunately, this strategy doesn’t guarantee sufficient leads – maybe 5% of the target market will visit your site. Promotional marketing is better at creating leads because it provides immediate value for the customer. For example, if you give the customer 50% off on a product they love, you allow them to save money and satisfy their needs with a superior product. As a result, the client is more likely to buy from you.
3. Affordable
Traditional advertising is expensive. Billboards and radio stations will charge you thousands of dollars. You also have to consider the cost of making that advert. You have to hire models and a professional production company to produce quality work. Promotional marketing helps you save money because it’s not very involved. Let’s say that you’re giving gifts for every bulk purchase. Gifts will include things like branded pens and mugs. The cost of acquiring these items is low. You also don’t have to think about logistics because the gifts can be attached to the main product.
4. Boost Website Traffic
If you put a promotional banner on related sites, you’ll definitely get the attention of your target audience. As a result, more people will visit your website to confirm the offers. The more traffic your website has, the more likely it is for it to get a high ranking.
5. Boost Brand Awareness
When you’re new in the market, it’s hard to compete with established brands. That’s because those companies took years to make everyone know that they exist. One of the techniques that they used is promotional marketing.
The good news is this method can also work for your business. When thinking about gift ideas, make sure that you also consider the design and utility. How often will that item be used? How will you place your logo so that customers can see it every time they use the product?
Promotional products stick with the customer for a long time. They’ll see your logo whenever they use that product. According to research, 94 out of every 100 people that you give the promotional gift will remember where they received the item. That means they are more likely to come back to your store.
6. Quick Decision Making
Sometimes customers need a little push to make a decision. When faced with a lot of options, the customer will take time to make a purchase. Some look at the pricing, others examine the packaging, and the remaining study the ingredients. When you create a promotion and give the customer limited time to make the purchase, you create a sense of urgency. The client won’t risk losing the opportunity if they know that such deals are hard to come by.
7. Boost Revenues
Unlike your competitors, your products come with an added advantage. They are affordable and provide customers with additional value in the form of gifts. It entices customers to buy from you. Consequently, your revenues and profits will increase due to the high demand.
In conclusion, promotional marketing can help your business get more customers, increase brand awareness, and boost your sales. It is cheaper than traditional marketing because there are few parties involved. You should also keep up with the latest trends in your industry if you want your marketing efforts to be more effective.