Introduction
Sales- the lifeblood of any business organization. Without sales, no business can expect to survive in operations. This is why sales teams are regarded as one of the most important verticals in modern business organizations. Given the increasing competition and new challenges, sales promotions have changed in their nature, terms, and strategies.
The COVID-19 Pandemic has also played a major part in making brands adopt newer channels of sales promotions. Promotional strategy is a critical component of any business because of the following reasons-
- They help in improving customer satisfaction in terms of answering FAQs
- Help a business build a credible and reputable brand that has a presence
- Generate real monetary sales and revenues through customer conversions
- Builds brand awareness and market penetration in the businesses’ industry niche
In this article, we speak to experts at a leading custom printing agency, Rex Three Printing. The brand has been helping businesses of all shapes and sizes with their sales promotion printing requirements.
5 Steps to Create the Perfect Sales Promotion Strategy for your Business
Step 1- List Down the Objectives of the Promotional Strategy
The first thing businesses need to do is to write down what is it that they are hoping to achieve from the sales promotion strategy. Do they want real sales, or are they looking at creating awareness? You also need to factor in offline and online expectations. This will help you define the entire strategy and choose which vendors and materials you have to engage and deal with.
Step 2- Select the Perfect Printing Agency for all your Promotional Material
Once you have been able to list down the objectives, the next and most important step involves choosing a printing partner. You need an agency that offers a diverse range of services at an affordable cost. Good agencies have their in-house designers and work with the latest printing machines. If you are able to select the best ones, you can consider half your job done.
Step 3- Create a Strong Bait/Hook to Publish in the Sales Promotional Materials-
You have your brand name, the contact details, and the service or product offerings that your business renders. However, you need bait. This bait can be in the form of heavy discounts, flash sales, buy-one-get-one offers, or any other promotions you want to run. This is what will make customers pick up their phones and give you a call. You need to make this attractive.
Step 4- Set up a Great Client/Sales Relationship and Support Team in Place
Once you have printed and put up the sales promotional material in the form of hoardings and billboards, you will start getting calls. A solid client support team can help in boosting conversion rates and getting people into the store or showroom. You need to ensure that the team is effective and experienced in conversions and generating new customers.
Step 5- Re-evaluation of Sales Promotion Strategy and Course Correction-
As a brand, you might not get the desired results the first time around. In such a case, you need to ensure that you are changing up the campaign. This means taking proactive steps like changing the design, altering the bait, or finding out what is not clicking effectively. The sooner you do it, the lesser will be the wastages that you will be incurring.
Offline Versus Online Sales Promotions: What you need to know
This is a debate that has gained quite a lot of steam in recent years, especially after the pandemic. Most businesses feel that offline sales promotion strategies are a thing of the passe.
To be honest, with people cooped up in their homes for more than 18 months, offline sales promotional strategies are the way to go.
All of us are tired of looking at our phone screens and suffering from bad headaches. We crave going outside, sitting at restaurants, and shopping at departmental stores.
This is why brands who had investing more in digital mediums should go back once again and start balancing their promotional investments between offline and online channels and centrally manage Magento partners like Brainvire
If you have any other questions that you need to know about offline sales promotions or marketing strategies or want us to clarify any points mentioned, let us know in the comments section below.
