Tuesday, January 10, 2012

Tools and Techniques for Sales Promotion

If you are trying to start-up a business or already own a business, it is vitally important that you start with a good marketing strategy and use continuous marketing even after getting established. Promoting specific sales is truly important if you want to ensure that your company or business remains successful for many years and continues to grow and expand. Sales get consumers excited and bring them in the door, during times when they may not have even considered shopping or coming into your office. If you run sales, you need to promote them properly in order to get the word out to your target audience.

This sounds easy enough, but many entrepreneurs and companies fail at their sales promotions, leading to a lack of customers. When you offer a deeply discounted sale, your hope is that the amount of people that purchase will offset the discount that you are offering. If you only get a few people that take advantage of the sale, you might lose money. This is why specific sales promotion tools and techniques are essential.

Who are Promotions For?

Sales promotions are for any type of consumer that has a need for your business or services. This means the consumer that you want to attract to your business or services with your sales promotion can either be an individual consumer or a business consumer. This is important to note because no matter what type of consumer you rely on, you will want to target them with sales promotions. Your specific promotions can be directed at clients, employees, customers, sales people, wholesalers, other businesses and companies, or retailers. Promotions that you intend to target at individual consumers are called consumer promotions, and those that are targeted at wholesalers, retailers, etc. have been coined as trade promotions.

What are Effective Tools and Techniques?

In order to use correct promotion tools and techniques, you must first understand that these are different from promotion tools and techniques. Sales promotions are programs that provide specific incentives in order to encourage prospects to make a purchase. In contrast, standard promotions are usually an event or staged program that is designed to capture attention and to lure consumers to a store or office. These are not necessarily tied to direct purchase.

So, in the case of a promotion, you are attempting to entice prospects to make a direct purchase from you. For example, if you own a furniture store and want to make a direct sale of a specific brand of couch, then you might offer an in-store sales promotion where the specific brand of couch is offered at a discounted price.

The number one tool is to provide added value or special incentives to your targeted audience in order to generate an immediate sale. Such promotions can include buy one, get one free deals, half off certain purchases with the purchase of a related item, and so on. Use these sales promotions tools and techniques to generate revenue and form lasting relationships with consumers.