Contents
- What is a promotion?
- When and why are promotions held?
- Types of promotions
- Image promotions
- Sales Promotion
What is a promotion?
A promotion is an effective marketing tool used by companies to promote their goods and services, as well as to stimulate sales. Within the framework of such campaigns, consumers are offered interesting and advantageous offers, including significant discounts, making them more appealing to the target audience.
When and why are promotions held?
Promotions can address a variety of business tasks. They help attract new customers and bring back old ones, stimulate demand and increase sales volume, as well as strengthen loyalty and trust in the brand. Below are the main goals that companies can achieve through promotions:
- Launching new products: Companies use promotional activities to introduce new goods or services and engage the target audience.
- Promoting seasonal products: For example, ice cream and sunscreen are actively advertised for the summer season, while Christmas ornaments are promoted for the New Year.
- Attracting leads: Promotions help engage potential customers in the sales funnel and convert them into actual buyers.
- Stimulating demand for slow-moving items: Through promotions, companies can sell products and services that do not sell well during regular times.
- Brand promotion: Promotions help increase brand recognition. The audience starts discussing the event, sharing information with friends, and actively participating in discussions.
Types of promotions
Promotions can be conditionally divided into two categories: image and sales promotions. Image promotions are aimed at enhancing loyalty and interest in the brand, while sales promotions are focused on stimulating sales and demand.
Image promotions
Image promotions include various types of events that help strengthen the company's reputation:
- Charitable events: Companies can sell goods and services, directing a portion of the proceeds to charitable organizations, which helps boost sales and gain audience loyalty.
- Sponsorship: Brands can sponsor events (sports, cultural, and corporate) and receive promotion of their logo and products at these events in return.
Sales Promotion
Sales promotion includes various strategies aimed at increasing sales volume. This can involve temporary price reductions or special promotions for loyal customers. These methods allow for quick results and draw attention to products that may not sell well during regular times.