14 Nov

Effective Promotions: Why it’s Not About Money

Some business owners think that promotion is like house cleaning – something you just need to complete every three months or so.

tshirt advertisementBut when a promotional campaign runs continuously instead of being generic and occasional, your life gets easier. If potential customers get an early grip of your wares before you open your store and before they start shopping, you’re more likely to make some income.

So here are some ideas for doing that – in an effective and affordable way.

Just be relevant

You’re starting a bakery business and you’re giving free toiletries? There is a mismatch there. Give promotional items related to your line of business for a more effective approach. It doesn’t have to be extravagant and costly; simple items like giving printed t-shirts and caps are an effective long-term gift.

Know your purpose

Determine why you’re giving promotional items before thinking of buying wholesale t-shirts and caps for your promotion. This is because they will serve the purpose of grabbing the attention of the audience you are directly promoting to, while giving an indirect brand exposure every time the people use your promotional items. Make it right the first time. You’re promoting your brand for exposure and to get sales, not promoting your brand because you just want to blow your own horn.

Stop wasting time on break-even prospects

Don’t just promote and give. Choose prospects that will surely do business with you after your promotion and avoid break-even prospects. If you continue to target the wrong audience, you’re just increasing your outlays instead of increasing your profits. Your customers are the lifeblood of your business. Choose the right ones or you’ll be surprised you’re gradually sinking because you have been targeting the wrong ones.

Don’t let customers simply leave. Make an effort to reel them back in, especially if you see them as a huge asset to your business. Serve them whenever you can. It costs a lot less when you retain and please a disgruntled customer than when you attempt to acquire a new one.