What is Promotional Marketing?
The goal of promotional marketing is to reach as many people as possible with information about a specific brand, product, or service in order to increase brand awareness and sales.
Objectives of Promotional Marketing:
· Promotion of new products or services- A possibility to introduce new products or services in the market. It’s an opportunity to carve out a niche for you.
· Development of brand image- When people associate a brand with a particular product it is called Brand image. Example: People use the word “Maggi” to represent Noodles.
· Informing Customers- Marketing promotion is critical for informing customers about product changes or brand rules. It also aids in the description of product features and specifications.
· Showing superiority over competitors- Nowadays, everyone employs promotion marketing, therefore in order to stay competitive, each brand must implement a long-term promotional strategy.
· Turning potential customers into real customers- When promotion marketing techniques such as personal selling, advertising and others are used correctly, demand for the product is stimulated.
Types of Promotional Marketing:
1. Personal Selling
3. Direct Marketing
4. Sales Promotions
5. Public Relations
Promotional Marketing Strategies:
· Email Marketing– You can invite subscribers to your events, share news and updates, and market your products and services with this channel. Send transactional emails to promote customer retention and loyalty, enhance sales with abandoned cart emails and post-purchase emails, and build relationships with triggered emails.
· Social Media Marketing– Users check for evaluations from the brand’s customers, high-quality product photographs, and contact the brand’s representatives for further information.
· Content Marketing– Consumers love high-quality content that guides them in making decisions, answers their queries, and provides professional advice.
· Referral Marketing- Consumers are more likely to trust their friends’ recommendations than any advertising campaign; according to 92 percent of respondents. The most effective promotion approach is word-of-mouth.
Example: International day like Black Friday, local festivals like Akshaya Tritiya, Ramraj Veshti Dhinam, Amazon and Flipkart promotional day and valentine’s day are the best examples for Promotional Marketing.