Are you looking for a way to increase your eCommerce sales and raise brand awareness? If so, developing a promotional strategy can be a really effective solution.
A promotional strategy involves planning and executing tactics that will help you raise awareness of your product or service. In this blog post we will discuss the elements involved in creating an effective promotional strategy and the steps you need to take to implement it successfully.
What is a product promotion strategy?
Product promotion is an essential component of marketing. It consists of communicating, informing and making a product or service known to consumers. Through this promotion, the objective is mainly to motivate the customer to buy the product, showing them the advantages, it provides.
To achieve a truly effective promotion strategy, you must take into account the 4 elements that make up the marketing mix: Product, Price, Place and Promotion. It is essential to build a clear strategy and keep all these elements in harmony, as they are all essential components to achieve success in the market.
An excellent knowledge of the market and a correct application of product promotion will help you achieve a clearly defined objective with a coherent and cohesive strategy.
What is a product promotion for?
Promotions are an essential marketing tool that companies usually take advantage of to generate an increase in sales in a short period of time.
By introducing the latest innovation or improvement, launching a new product, or reducing the price of a product, it generates greater interest and attracts consumers, which ultimately translates into increased sales.
Used strategically, it can also be applied to hinder competitors' marketing actions and establish a successful business strategy in a short period of time.
The objectives of any product promotion are clear: to generate a positive reaction from customers, increase sales and increase the company's market share.
What are the steps to implement an effective promotion strategy?
The elements included in an effective promotion strategy are:
Identify your target audience. Correctly identifying your target audience and knowing who you are targeting will help you craft messages and tactics that are more appealing.
Message development. Crafting effective messages about your product or service is essential to creating a strategy that truly appeals to the consumer.
Choosing the right channels. It is important to choose channels that appeal to your target audience if you want to successfully develop your strategy.
Budget. Setting a budget for your promotional activities is essential to ensure that you can reach the right audience with the right budget effectively.
Measuring results. Tracking and measuring results will help you see what works and make adjustments to future strategies.
8 main tools for the promotion of a product with LogiCommerce
“Choose a gift” Discount: Apply a promotion so that the customer can choose a gift from a selection of products.
Gift Vouchers: Generate gift coupons with fixed amount for your campaigns and promotions.
Multi-tier Pricing: Define price intervals to grant quantity discounts.
Discount rules: Apply discounts on the total purchase, on certain products or on the shipping cost, among many other rules.
Conditioned promotions: Configure promotions every X product, between X and Y or more than X.
Free gift products: Offer any product in the catalog as a gift in your promotions.
Advanced discount segmentation and targeting: Personalize shopping experiences through advanced discount segmentation and targeting.
Product Combination Discount: Apply discounts for the joint purchase of multiple products from a predefined list.
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