19
May

The Promotional Mix – 7 marketing tips to ensure success!

ENI Marketing 0 comment

7 marketing tips to ensure you promote your business effectively…

Whatever business you’re in, understanding and implementing the correct promotional mix is essential to drive growth, retain and increase your market share and keep you abreast of your competitors in today’s dynamic marketplace.

The promotional mix is how you choose to communicate the features and benefits of your product or service to your chosen customer. Your message is essential and must be delivered to the right demographic in the right way to be most effective and will be informed by not only your customer’s needs but also by your budget, market conditions and resources. It must be persuasive, compelling and appealing and can be achieved through a mix of communication methods.

There are five main elements to the mix:

  • Advertising
  • Public Relations
  • Sales Promotions
  • Direct Marketing
  • Personal Selling

The need to get the mix right is clear – after all, if your message is delivered in not one but a variety of ways, it has a much better chance of success.

Each target market may benefit from a different form of communication and your product may have a range of advantages which need to be advertised in a variety of ways depending on the consumer’s needs and preferences. Targeting this correctly means your budget will be used in the most effective way and create dialogue within the segment of the market place you wish to target most.

To decide on the right promotional mix for your business you must implement the following seven marketing tips:

1 – Determine your target market

Understand who your customer is and how your product or service will fill their needs. Your choice of message and type of communication will be informed by their attitude and behaviour in order to be successful.

2 – Decide upon your objectives

What do you wish to achieve? What response do you want from your customer? If you have clear objectives and are able to engage and attract the attention of customers in such a way as to open a successful dialogue, you will have succeeded.

3 – Tailor your message

Decide upon the format and content of your message. What words and images will you use and what method of communication? What benefit of your product or service needs highlighting as the most appealing to your customer?

4 – Decide upon your promotional channels

A successful promotional mix will engage your customer in the most effective way, using the five promotional methods of advertising, public relations, sales promotions, direct marketing and personal selling. Each method has its own pros and cons:

  • Advertising

Advertising has many advantages including increasing your credibility and influencing public perception of your company and brand. You can decide upon the correct timing, build drama and engage your customer to create brand loyalty. However, it can be costly with lack of feedback and follow-through, particularly in today’s modern market place where customers are constantly bombarded with information and thus become indifferent. These can be significant disadvantages.

  • Public Relations

This can build goodwill and often increases sales through non-paid media coverage and attention when your company achieves or can report something newsworthy. Customer perception means that publicity is often more credible than paid advertising, however there is always a certain lack of control over the message delivered and it may miss the target market.

  • Sales Promotions

These build relationships with consumers and can grab attention and create excitement for your brand. However, promotions only really work best on a short-term basis and can be wasteful if not carefully targeted and implemented.

  • Direct Marketing

Direct marketing can often be a more personal way to communicate and can engage your target audience in a personable and appealing way. It’s predictable, effective and measurable but must be used with care as over saturating customers with information will create disengagement and disinterest.

  • Personal Selling

Personal selling adds the human touch and can give your company personal appeal, particularly in today’s market which has seen a distinct consumer swing towards smaller, more individual companies with whom customers can communicate and build a rapport.

5 – Determine your budget

It’s necessary to work within a budget and each method of promotion or channel of communication will have its own associated costs. The different means of communication that form your unique mix will need to be adjusted organically over time in response to consumer buying habits. After all, buying behaviour changes gradually and flexibility is essential to make the most of the resources you have.

6 – Decide upon your promotional mix

Your marketing mix once decided can be expressed by dividing your total budget into percentages over the five promotional methods.

7 – Measure your results and adjust the mix as required

The most essential aspect of getting the mix right is to regularly measure results and if necessary, adjust your channels of communication accordingly. By exploring these new ideas, reviewing the impact and success of your message and changing your mix organically, you have the best chance of achieving your goals. So, what are you waiting for?

Contact us today for support with your promotional mix: 01392 927477 or email us at: info@enimarketing.com

For more information on Marketing Planning see: https://www.enimarketing.com/marketing-planning/

 

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