Marketing is a growing, crucial industry that helps companies attract further users globally. Promotional activities are planned and executed by a whole variety of new and well-established companies. Even the global, well-recognized corporations such as Google or Apple spend big amounts on decent, well-targeted marketing strategies.
The world of promotional business has been transforming importantly throughout the last century. Advertising became a widespread means of communicating with potential customers in post-industrialized countries. It replaced more traditional ways, such a word of mouth. Marketing emerged with an increased number of newspapers and magazines attracting more and more readers. Adverts and promotional messages soon started to be printed on pages of daily papers.
Later, urbanization and a higher concentration of the population in large cities caused a spread of billboards around the world. Pioneering in the field, London and New York both introduced established advertising areas in very centers of cities. The Piccadilly Circus in the British capital and the Times Square in big apple became hotspots for the industry.
The growing access to television and radio resulted in the birth of new means of promotional campaigns. From that time, the broadcasting ads became some of the most profitable in the business. Some commercial broadcasting companies solely depend on ad revenues even today.
However, the internet turned the entire industry upside down. Billions of users surf the web daily, creating a massive opportunity for companies to spread their messages through channels available online. It quickly exceeded the expectations and overtook the TV advertising market.
Today, almost every modern company is present on social media or the intern in some forms. The global web is the ultimate way of attracting users or boosting the already-existing base. However, some companies still choose more traditional means of promotion or a combination of different channels.
Some fast-growing industries that have emerged thanks to technological advancement are a good example of how promotional activities should be targeted. One thing I can pinpoint this trend to is the financial trading market since that’s where I have the most experience. However, no matter how amazing the product is in this sphere, targeting a very specific group of individuals is crucial. According to ForexNewsNow, a leading financial news outlet in this industry has noted that a free sample approach is the most cost-effective way to not only retain existing customers, but also gain new customers that are beginners in the field, or veterans trying to find a better platform.
However, delivering this information on how this free sample works is absolutely essential, as most people need to understand what they’re signing up for. Pair that up with a small monetary risk that accompanies the product, and we get a plethora of issues that could arise. That is why such businesses use more precise means of communication, such as email newsletters and ads on websites with relevant themes.
Whichever the way you choose, marketing activities are crucial for success. However, outlining a plan requires quite some preparation and analysis of the area. A number of factors should be taken into account before even starting to plan the campaign. However, there is no unique way of promotional activity that works well for every business. Without ‘the golden rule’, campaigns should correspond to the needs of a particular company as well as to the specifications of the audience they are trying to reach. Nevertheless, there still are some general steps that every marketing team should take before, during, and after the campaign.
Decide on what the campaign’s main objectives are
Before even outlining the campaign, take some time to think about what the company needs or what goals would a campaign needs to reach. It might seem fairly easy, but many companies make mistakes when planning the promotional activity simply because the actual aim is different than what a particular campaign is designed to achieve. Thus, make sure that you understand the needs of your company. Are you a newly established business or an old one? What is the service you provide or a product you sell? Is there a need for attracting new users or rather the lack of communication with the already existing ones? These and others are the questions one should ask themselves before even getting started.
In general, promotional campaigns try to either expand the user base or establish themselves in new markets attracting further users. After deciding on which one the company’s campaign belongs to, try to project the value of the message. How is it supposed to appeal to the users? Should it make them purchase your services or products or simply increase the visibility of the company?
What communications channels will be most beneficial?
As mentioned above in the article, a list of never-ending means of communication is available in the modern era. The most popular, cost-efficient, and often beneficial is the internet. Online platforms, including social media channels, not only provide a space to spread the message but are also crucial for market research.
The data available online is priceless, helping companies shape their campaigns in a way to make them as efficient and fruitful as possible. Promotional campaigns on the internet cover a broad area. There are more precisely targeted email campaigns, newsletters as well as social media platforms, which now gather billions of users every day.
All of the said channels can be used for promotional purposes, however, the company’s market and the target audience should be well analyzed before kicking off with the work. Although the online campaigns are hard to compete with, some areas and audiences still are easier to reach through some other means. For example, the market audience with predominantly older members might be better reached through television advertisements rather than the internet. Although the TV ad rates are shrinking, they still serve the purpose within specific markets.
Moreover, besides age groups, the means of communication should be chosen according to the type of business. For instance, workers in the financial and banking industries are more likely to read influential daily newspapers – both printed and digital.
Post-campaign steps: evaluate the campaign
The end of the promotional campaign does not mean that it is the last one. However, it is important to learn as much about your own business and the target audience from an already-executed campaign as possible. This will help the company be more precise when targeting the groups and better at delivering the promotional activities that are more appealing to the members of the target audience. Make sure to receive feedback from users in some way. Simple and brief feedback forms are a great way to understand the successes and failures of the campaign. Yes or no and multiple-choice questions might attract more to fill them in. In the end, the information gathered through feedback can be used to advance future promotional strategies.