Decide which types of marketing will drive business sales and profits.
Marketing promotional tools can include advertising, in-store promotions and other methods that attract and retain customers. The key to these tools is first deciding what motivates your customers. For example, bank customers may be attracted to a deal where you start their new checking account off with a $25 balance. There are a number marketing promotional tools available to businesses to increase sales and profits.
Coupon Magazine Advertising
Coupon magazine advertising is an effective marketing promotional tool for small business owners, especially those with store locations. These magazines contain coupons for dozens of local businesses. Many coupon magazine publishers will not run competitive ads. This provides businesses an impetus to be the first advertisers. Coupon magazines are distributed to all residences in a specific area. Decide what discount you want to provide customers, then include some key information about your products and services. For example, you can give customers 15 percent off on a perm if you own a beauty salon. Coupon magazines usually have specific deadlines, so customers need to act fast to receive their discounts. Run a few coupon promotions, then see how many people redeem the coupons. Determine if the promotion was profitable by subtracting your advertising costs from your sales.
Database Marketing
Database marketing uses customer emails to promote new products and services. This type of marketing works best if you operate your business online. For example, an Internet nutritional company can retain email lists of customers who purchase their products. Subsequently, the company can email customers coupons or special deals on vitamins, protein or diet products. Keep track of what your customers purchase and how much they spend. That way you can run special deals for your best customers. Email marketing can also work for offline businesses. For example, customers can easily print out a coupon and take it to their local hardware store. However, you will need to obtain the names and emails of customers in advance. Warranty cards are one way to obtain customer emails, which are often included inside product packaging.
Rewards Cards
Use rewards cards programs if customers frequently buy your products, according to Inc.com. Provide a card to customers who often buy items from you. Use a stamper each time a customer makes a purchase. Offer discounts or free products when customers spend a certain amount of money. You can also computerize your rewards cards program, offering plastic cards with a magnetic strip containing each customer's information. That way you can keep track of sales and rewards automatically. However, you will likely need to hire a marketing consulting firm to help you automate your rewards program.
Search Engine Optimization
Search engine optimization will allow you to attain a high ranking in major search engines such as Google or Yahoo. That way, each time people search online for your type of products or services, your listing may appear on the first page. You will need an experienced search engine optimizer to help you attain a high ranking. Search engine optimizers make use of key words or phrases to help drive traffic to your website. They will typically charge a one-time set-up fee, then bill you monthly for maintaining your high position. Use search engine optimization primarily if you want to reach customers nationally or internationally. Search engine optimization can cost thousands of dollars per year.
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