There are an infinite number of ways to promote your
products and services, which can make planning your promotions a bit
overwhelming. Thankfully, there’s an easy way to pick the right type of promotion
for your business.
The key to running a good promotion for your business is to
choose exactly what you want your audience to do, and then design your
promotion to encourage that behavior.
There are three key promotional categories:
- Acquisition
- Monetization
- Activation
Learn more about these types of promotions and how you can leverage them in your marketing!
Acquisition promotions
Acquisition promotions are about building your list. Free giveaways and lead magnets make great acquisition promotions because they're low-commitment, high-value offers for people who don’t know your business. If you include an offer on top of those lead magnets, you could acquire customers at a profit.
This type of promotion might only break even or may even take a short-term loss. But, the important thing to keep in mind with acquisition promotions is that they're intended to generate leads and potentially some low-dollar buyers. Don’t worry though, once you build a good list, you can target those new leads with more profitable monetization promotions in the future.
Monetization promotions
Monetization
promotions are about making money. These campaigns focus on selling products or services to your lead list. They're essential
to running a profitable business, though they still need activation and acquisition promotions in order to build and warm
up an audience so they're more likely to buy.
This should not be the first step in marketing your business. If your business has no leads, subscribers, or existing customers this type of promotion will likely not yield the results you're looking for. Monetization promotions are meant to sell more, or more often, to those who already know and/or trust your business.
Activation promotions
Activation promotions
are about engaging and exciting your past customers or people on your email list who haven't previously purchased but are familiar with your business. For these promotions, your focus
should be to excite your audience about a particular topic or product. This type of promotion could include flash
sales – which offer big discounts on your
products or services to create value that list members find it hard to say no
to.
To learn more about Flash Sales, read our article Running
Facebook Flash Sales to Boost Customer Acquisition.
As we said in the beginning of the article, there are
countless ways to promote your products or services. These categories are just
an easy way to visualize the different goals you can have for your promotions
and what success looks like.
If you need help planning your business’ promotions,
the experts at Sales & Marketing Technologies can help! Call us today at
407-682-2222 or use the contact form below to get in touch.