In previous blog we discussed about the important things we should consider to attract more customers in which MARKETING is an important step to persuade customers. In early era, marketing was done through traditional way like newspaper, radio and television. In 21st century the advertisements and promotions are done through different resources of Media. However, word-of-mouth was the common resource in every era but still it is hard to rely on this resource for sales. In real world business plans commonly use the following promotional strategies to persuade customers:
ADVERTISING MEDIA
Advertising is defined as the attempt to persuade through mass communications media. The question rises here is “What Advertising Medium Might I Use” which leads us to consider the market segment of our business. You do not need to pay to all advertising media sources as it will be more expensive for new business. Choose the best sources which will help you to persuade your potential customers. There is different variety of advertising mediums as follow:
Internet Advertising: Many young entrepreneurs, typically people highly familiar with the Internet, assume that Web will be the best avenue for promotion. It is described as the variety of evolving promotional options through the medium of World Wide Web; still relatively lacking in data as to cost- effectiveness for small firms. It is the growing medium in every sector which is least expensive and increase sales really quickly. It is recommended medium for the new beginners and specifically for young entrepreneurs.
Newspaper: For small businesses, it is too expensive for daily circulation of newspaper. However, community newspapers can be helpful for promotion as it is a smaller-circulation newspaper targeting a specific geographic area, often published weekly. In addition, there is a specialty newspaper can be used too as it’s a smaller-circulation newspaper targeting customers who have a particular interest or are of a particular ethnic background. But to choose the newspaper medium, you should consider your market segment of your business.
Magazines: However, the newspaper and magazines are almost similar when it comes to promotion. It is expensive too but the advantage of promoting your business through magazine is that your ad will be there for your customers for three months. In addition, the most important magazines for small, new specialty businesses are trade journals which are written for people involved in specific industries.
Directors: these are the published lists of supplies for particular gods and services; for example a trade directory, an antique dealer’s directory, a directory of professional actors. It is useful if it is published in online versions of directories. It can be useful in search engines to promote but it can be wasted depending on the search engines used to promote your business. It is not too expensive but it can be wastage of money if you business do not need to get searched often.
Outdoor Advertising: Visual promotion aimed at passing vehicle and pedestrian traffic. For example posters, handbills, vehicle lettering, sandwich boards. It can be used if you have a business like real estate but your most significance piece of advertising is business sign. Illuminated store signs are expensive, so plan to have that sign for a long time. Don’t forget, the sign will often be the first impression potential customers have of your business.
ADVERTISING CONTENT
The advertisement content is the one of the important part where marketers need to think a lot as it should grab attention, project the right image and get action. In your business plan, you should explain the media you chose for advertising and promotion and the reason for choosing this media; will it work effectively and how you will know you spend your money wisely. To track the advertising effectiveness you should include activity, sales and profit to keep records of media.
It is describes as promotion by spreading information about a company, product/service without directly paying for the use of media space or time for example, campaign including letters, clippings, brochures, free t-shirt.
ONE-ON-ONE SELLING
SALES PROMOTION
It is a collection of techniques for getting customers to buy goods or services. These techniques do not fit into any of the more discrete categories of advertising, publicity, or personal selling. It can be preceded through giveaways, coupons, premiums, events, trade shows, displays, and free samples. In conclusion, the blog describes all the marketing strategies which are greatly influenced by small business owners and others too. However, Internet has be the cheapest among all in the terms of expense.
