Business

How to Create a Winning Promotions Strategy for Your Business

winning promotions strategyNo matter how great a product or service a business has, if you don’t tell the world about it then chances are it’s not going to sell itself. You know you have a great business because you created it. So what are some strategies you can use to promote your business? 

The rest of the world is not really thinking about you and your business. You have to tell them, but it has to be in a way that makes them want what you have to offer.

Many small businesses shy away from promoting their business because they think that they can’t compete with the advertising, public relations and promotions budgets of their larger competitors. Effective promotion does not need to be expensive. If you stay focused and create a clear plan, it does not have to be time consuming either.

The first step is to develop a plan. This should also be included in your business plan. Here are five steps to help you create a strong promotional plan.

1.  Identify Your Target Buyer

Consider who you want to do business with and to whom your product or service is most likely to appeal to. Take into account the demographics, lifestyle and psychographics ie personality traits, interests and emotions that affect buying decisions.

2.  Make Them Want What You Have to Offer

Distinguish your product or service from the rest of your competitors. This has to be meaningful and accurate so as to maintain credibility with your consumers. What features, benefits and brand attributes will your target buyers consider when making a purchase? For example, your target buyers might take into account the knowledge that your team convey regarding your product or service or perhaps what is your return policy should something go wrong or they simply change their mind.

3.  Create a Strategy and Make it Clear

List who your target buyers are, what your competitive environment is and what your meaningful differences are. This is called your positioning strategy statement. You must develop a consistent message and look and feel in all of your promotional campaigns.

Consider the personality of your business in relation to your target buyers. Is it a young, hip, friendly environment? Or is it a more reserved, traditional environment? These characteristics will inform the look, feel and tone of your business as well as the promotion of it.

4.  Create a Clear, Concise and Memorable Message

Think about your business value proposition (BVP). If you have clearly identified the unique features and benefits of your products and services to your target buyers, you will be well on your way. Use this information to brainstorm potential slogans, keywords in all marketing messages and visual images that correspond to your BVP.

5.  Consider Your Budget

When promoting your products, services and business there may never seem to be enough money in the budget. However, not all promotion costs money. Creating a mix between word of mouth, customer referral programs, public relations and advertising can save you a lot of money.

The keys to creating a winning promotions strategy is imagination and relationship building. Do you want to know more about growing your business, then please give us a call.