Is there any brand out there that is not interested in obtaining more valued customers? Most would have an easy response to this question, citing their well-equipped digital marketing team as proof of their desire to continue expanding. These are the people who put forth strategic plans and campaigns which prioritize things like SEO, social media, blogging, PPC, link-building, and much more. However, in addition to these, there is another effective strategy that marketers should not skip over: the use of discounts and promotions. But what exactly is it about this tactic that converts? In this article we discuss four ways that promotions can help brands meet their developmental goals and objectives.
In today’s technologically progressive era, brands must consider the best strategies that fit into the context of digital marketing
#1 Promotions Impact Sales and Profits
The internal and external environment that surrounds a brand is constantly evolving, and so it is common for sales to reflect this. Incoming profits have the potential to change at any given time, whether for better or worse. Promotions are one way to address this quickly, as customers are always attracted to opportunities that allow them to save. Although this can often be seen as a short-term solution to a bigger financial issue, if done correctly, promotions have the potential to grow a loyal customer base, something we will touch on in depth later on.
#2 Promotions Increase Brand Awareness
Promotional campaigns are hugely influential in forging visibility because they allow a brand to stand out amongst similar ones in the same sector. One relevant example of this in today’s world can be seen in the online sports betting industry, especially in the context of the U.S. market. Here, new bookmakers are joining the scene each year as legalization becomes more prominent throughout all 50 states. This means one thing: there is more competition than ever before. To combat this, brands are providing promos for first time customers. For instance, a BetMGM bonus code is an example of one of these promos that is catered specifically to newbies and gives sports fans an incentive to interact with the service. Additionally, the level of brand awareness a business wishes to achieve will depend on where they choose to advertise. That’s why multi-channel marketing strategies that focus on running promotions on both websites and social media networks have a higher chance of reaching more customers.
However, brand awareness can also be spread through traditional marketing efforts. For example printed materials such as business cards, flyers, signages, and attractive custom boxes and packaging remain effective at reeling customers in. Remember that the more you put your brand out there, the better your reach will be.
#3 Promotions Forge Customer Loyalty
Customer satisfaction has been proven to be one of the biggest determinants of re-interaction. After all, is there anyone you know who does not enjoy a great deal? If a promotional opportunity caused a new or existing customer to be pleased with a brand, there is a big chance that they will continue to come back again and again. Dividing your target audience through a process called market segmentation also has a way of making customers feel valued, which can evolve into loyalty. Here, marketers analyze things like demographics, geography, behavior, and more to determine which audiences will best receive their promotional content. This process of personalization may take a bit of time and research, but it is undoubtedly worth it as segmentation garners real results.
Before running a promotion, it can be helpful to brainstorm with your team about the best ways to do so
#4 Promotions Provide Valuable Marketing Analytics
When a brand offers its customers a promotion or discount, they are automatically opening themselves up to receive valuable data about their audience. This information can then be analyzed later on to plan for future campaigns. Think of data analytics like an ultimate guide to tangible improvement. Without this, brands might not understand what went wrong along the way in their marketing efforts.
Bonus Tip: Before launching a promotion, especially on a landing page, make sure that your website is visually attractive and not just informational. These days, customers are looking for brands that can convey who they are and what they offer in an intriguing and captivating way. Graphic designers play a huge part in this, so it may be a good idea to invest in this in conjunction with promotions.
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