Posts Tagged ‘promotional mix’

Promotional mix

Friday, September 30th, 2011

One of the prominent issues that seems to create a great debate in business meeting, is the point when it comes to defining what the marketing function actually is. We meet a lot of business owners who define marketing as the process to which they get their advert in a magazine, or, by how their sales team have come up with a sales promotion to generate a quick upturn in sales. It is this miss-conception about marketing which fosters the departmentalised way of thinking, ie, pass it onto marketing, they will deal with it? 

Who is this ‘marketing’ that sales people look over the fence to and business owners seek to ‘buy in’ as a short term project, in order to bring a quick turnaround to the sales pipeline? Without going into text book answers I will simply say the marketing function, whether you are fully aware of it or not, is your WHOLE business and it involves EVERYONE. 

I believe what the majority of laymen actually refer to when discussing marketing, is they mean the promotional mix, or the communications mix as sometimes expressed.  The promotional mix is one part of the marketing mix, which consists of Product, Price Place, Promotion. It is the direct way in which an organisation attempts to communicate with its various target audiences and consists of 5 main elements.

Traditional mix

  • Advertising – Presentation and promotion of ideas, goods, or services by an identified sponsor. Examples: Print ads, radio, television, billboard, direct mail, brochures and catalogues, signs, in-store displays, posters, motion pictures, Web pages, banner ads, and emails. (Not Always Paid For)
     
  • Personal selling – A process of helping and persuading one or more prospects to purchase a good or service or to act on any idea through the use of an oral presentation. Examples: Sales presentations, sales meetings, sales training and incentive programs for intermediary salespeople, samples, and telemarketing. Can be face-to-face or via telephone.
     
  • Sales promotion – Media and non-media marketing communication are employed for a pre-determined, limited time to increase consumer demand, stimulate market demand or improve product availability. Examples: Coupons, contests, product samples, cash back, tie-ins, trade shows, trade-ins and exhibitions.
     
  • Public relations – Paid intimate stimulation of supply for a product, service or business unit by planting significant news about it or a favourable presentation of it in the media. Examples: Newspaper and magazine articles/reports, TVs and radio presentations, charitable contributions, speeches, issue advertising, and seminars.
     
  • Direct Marketing is often listed as a the fifth part of the promotional mix.

Whilst still working within the categories above we have extended the traditional mix to include for social media integration and other digital communications which the internet age has brought. This list below is our promotional mix map which we currently use when assessing tactical marketing activities for our clients.

Extended promotional mix


Advertising
Classified ads
Directories
Online display ads
Magazine/brochure inserts
Small ads

Strapline

Alliance Marketing 
Alliance partnerships
Channel Partnerships

Books
Book authoring

Corporate Literature
Business cards
Brochure
Flyers
Folders
Leaflets
Newsletters

Customer
Advocate development
Clubs
Endorsements
Follow-up programme

Direct Mail
Letters
List building
Postcards

Email Marketing
e-shots
Email signatures
Ezines
Personalisation
Subscriber list

Events
Conferences
Exhibitions
Public speaking
Seminars
Workshops

Internet Marketing
Affiliates
Blogging
Columns
Content – useful
e-books
Home page rethink
PDF brochure
Pay per click
Reciprocal links
SEO
Website

Media Relations
Articles
Case studies
Interviews
Photo stories
Press pack
Press releases
Spokespersons

Networking
Elevator pitch
Face to Face networking
Online networking

Promotional Gifts
Article reprints
CDs
Mousemats
Pens
Top tips guides

Public Relations
Charity support
Client lunches
Issue marketing
Opinion leader
Telephone manner

Sales Promotion
Competitions
Free consultation
Incentives
Samples
Special offers
Trial period
Vouchers 

Selling
Appointments
Cold calling
Cross selling
Demonstrations
Major accounts
Presentations
Sales training
Sight seller
Training 
Up-selling

Telemarketing
Scripts
Segmented lists
Teleconferences 
Telephone surveys
Telesales

Word of Mouth

Advocates
Customer referrals 
Referral system
Supplier referrals

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Promotional mix – Sales promotions

Wednesday, June 2nd, 2010

sales promotions

  • What is a sales promotion?
    Sales promotions are tactical activities used as part of the overall promotional mix. They are intended to produce quick and short-term changes in consumer or business to business buying behaviours. This can range from money off vouchers, inviting you to buy today and save money off the normal list price, or, maybe buy one get one free offers which seem to be the ‘big box’ supermarket preferred offer of the moment.

    Some sales promotions are also employed as loss leaders – barely breaking even and at times even making a loss for a particular product, used mainly in consumer sales with the sole purpose of increasing footfall through the door – as we write this piece on the run up to the World cup, Stella Artois can be purchased from Tesco at 6p per litre below cost!

    Obviously these types of promotions cannot be sustained as part of a viable business model but they do serve a purpose.

    Types of promotions in consumer, trade and business sales:
    • Price discounts
    • Bonus packs (30% extra free)
    • Contests
    • Sampling
    • Loyalty programs
    • Trialling in unusual application areas
    • Extended credit terms

    When to use sales promotions?
    Sales promotion techniques are used to introduce new products into the market through educating people who may not have necessarily tried the product if no promotion existed. For current products, a sense of goodwill is created whilst new clients and accounts are attracted with the offer of discounting or gifts.

    Whilst there are criticisms surrounding some sales promotions, most of them yield positive results such as customer satisfaction and jump starting low sales volumes through a stimulated demand, however as with all promotional activities these must be measured and planned out thoroughly as part of your overall marketing strategy.

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Promotional mix – Trade show

Wednesday, May 19th, 2010

marketing mix trade show

One of the biggest reasons why companies still choose to use Trade shows in their marketing mix is for lead generation. If planned properly then attending these trade shows as part of your marketing mix can prove quite fruitful.

We recently stumbled across a nice top 100 tick list of things to do to ensure a smooth and successful trade show; here are the ones that stood out for us;

1. Exhibit at fewer shows, putting more effort into booth staff preparation and promotions tailored specifically for each show.
2. Attend more shows as a visitor to get some insight into what works and what doesn’t.
3. Track leads and follow up immediately. This sounds like marketing advice 101 but it’s surprising to find out how much effort people go into putting on the show and next to nothing in the follow up process.
4. Pick your booth space carefully. If possible, tag onto regional groups and pick the stand with the most traffic.
5. Send out invites to your prospects to visit your booth and set up meetings in advance. Send complimentary tickets if you have them.
6. Send email invites to the show’s pre-registered attendee list for this year and the registered attendee list from last year.
7. If you’re using social media than leverage this to reach more attendees.
8. Post your trade show schedule on your website with a link to sign up for appointments.
9. Make a theme for the show and give away something that is relevant and useful, build a story around this and use in your press packs.
10. Have a contest for attendees in your booth

Obviously there’s a lot more to running a successful show than just the above, but we believe if you keep a tight control on the small things, everything else will fall into place.

Use these events as the conversation starter and keep the conversations going!

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