The Objectives of Marketing Promotions
The objectives of any marketing promotion are based on the goals and strategies of the company launching the project. In general, the marketing objectives of promotional efforts are aimed at attracting new customers, increasing sales, raising awareness, or expanding market penetration. The scope of an initiative is typically based on the company’s advertising budget.
Marketing promotions are used primarily to attract new customers to a business. This can be done through a variety of promotional actions, such as running targeted advertising campaigns, holding special events, or launching a social media blitz. The objective is to reach potential new customers and give them an incentive to patronize your business.
Once people become customers of a business, another promotional marketing objective is to encourage them to increase their spending. An example of this marketing objective in practice is the use of a customer “rewards” card that tracks what the customer purchases and generates coupons for similar products. In this sense, the objective of the marketing tactic is to get customers to buy additional products, or more expensive products, than the ones that initially brought them to your business.
The objective of retention marketing promotion is to turn one-time customers into repeat customers. This can be done through collecting customer contact information and putting the one-time buyers on a direct-mail or email advertising list. These customers then receive special offers, advance notice of sales, special perks, and “two-for-one” offers designed to keep them coming back.
To keep its name in front of consumers and reinforce its image, a small business should have a marketing objective of building brand awareness. This can be accomplished in part by being consistent in all marketing messages and using inexpensive promotional products. An example: give-away items such as refrigerator magnets, ink pens, coffee cups and calendars imprinted with the company logo or image. People who take these items have a constant message in front of them, bolstering brand awareness of the business.
The objective of promoting a new product launch through marketing initiatives is to expand a company’s reach into new markets, while still retaining its existing customer base. An example of this approach is a cleaning company that expands its services to include handyman-type home repairs. The objective of the marketing promotion would be to attract new customers seeking home repair services, while cross-selling existing customers who already use the company for their cleaning needs.