Promotional marketing


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Promotional marketing

  1. 1. Promotional Marketing<br />Sales Meeting<br />February 9, 2011<br />
  2. 2. Video<br />Marketing and Branding in Real Estate:<br />Superbowl Advertising Inspired<br />with Tom Ferry,<br />
  3. 3. Why?<br />Human Nature: We all love getting gifts!<br />Giving a person something for free is the most effective way to:<br />Attract Attention<br />Develop a Relationship<br />
  4. 4. Is it worth it?<br />YES!<br />Georgia Southern University, 2005 Study:<br />Promotional products enhance the overall image of a business<br />Product recipients are more likely to recommend the giving business to others<br />72 percent of people receiving promotional products at trade shows remember the companies for more than 12 months<br />76 percent have a positive attitude toward the giving company<br />
  5. 5. Careful Planning<br />Are you planning to collect names as leads or discount an item as a loss leader to gain a larger customer base? Determine the reason for the promotion. <br /> <br />Who is the target of your promotional campaign? Is it your competitors customers or existing clients who have not made a purchase in the last 12 months? <br /> <br />What incentive works best for your customer group? Coupons, sweepstakes or sampling? <br /> <br />What is your available budget? <br /> <br />How will you decide if promotional marketing is a success? Select a clear goal and do not forget to measure the results. <br />Is your promotion in compliance with State and Federal laws. Promotional marketing incentives must comply with the law. For instance, the Federal Trade Commission states "when a "free" offer is tied to the purchase of another product, the price of the purchased product should not be increased from its regular price." <br />
  6. 6. Factors in Promo Campaign<br />Budget<br />Long Term/Short Term Goals<br />Resource Availability and Cost per item<br />Market Size & Concentration<br />Customer Information Needs<br />Detailed and Complex?<br />Basic, Already Understood<br />Never mix image advertising with advertising designed to sell a specific product. <br />To be effective, an ad must serve a single, clear purpose.<br />
  7. 7. What to Promote<br />Experience<br />Knowledge<br />Diversity<br />Personality<br />Niche’ Market<br />
  8. 8. Promotional Mix<br />5 Elements:<br />Personal Selling, Advertising, Sales Promotion, Direct Marketing, Publicity<br />Wide Range of Objectives<br />Sales Increases, Product Awareness, Brand Equity, Positioning, Competitive Retaliations, Creation of Image<br />3 Basic Objectives:<br />Present Information to Consumers as well as others<br />To Increase Demand<br />To differentiate a product/service<br />
  9. 9. The Marketing Mix<br />4 Elements: Product, Price, Promotion, Distribution<br />2 Types of Promotion:<br />Above the Line: Promotion in mass media (e.g. TV, radio, newspapers, internet)<br />Advertiser pays an advertising agency to place the advertisement<br />Below the Line: All other promotion. <br />Intended to be subtle enough for the consumer to be unaware that promotion is taking place. <br />E.g. sponsorship, product placement, testimonials, sales promotion, merchandising, direct mail, personal selling, public relations, trade shows<br />
  10. 10. Incentives<br />Contests<br />Coupons<br />Sampling<br />
  11. 11. Sponsorship Programs<br />Analyze the current situation: look at which other businesses are sponsoring in the target area. <br />Are competitors already doing this and is it providing them with an advantage?<br />Define the sponsorship objectives: e.g. raise awareness of the brand; build an image; promote a new product/service <br />Strategy: How does the sponsorship fit in with any other promotional activity?<br />Define the target audience<br />Consider what resources are needed to make the sponsorship a success.<br />
  12. 12. Stages of Promotional Marketing<br />Introduction<br />Inform Audience<br />Growth<br />As product is accepted, increase awareness to encourage loyalty<br />Maturity<br />Use Persuasive tactics to ensure you beat out competition<br />Clearly Communicate benefits<br />Decline<br />Remind people of the product<br />
  13. 13. Advantages of Using Promotional Products<br />Flexible: promotional products can be used in all situations, from a corporate uniform to business gifts, or even merchandise.<br />Tangibleand long-lasting: promotional products have the benefit of being a long-lasting form of marketing.<br />Impact and effectiveness can be easily measured<br />Higher perceived value: when your clients/potential clients receive a promotional product they feel important to your business<br />Complements other advertising methods: Increasing response rates and the overall effectiveness<br />
  14. 14. Clear Consumer Communication<br />Carefully Encode: Craft your message in a way that will be understood<br />Think about how your audience perceives: Words, Symbols, Sounds, Other Stimuli<br />Allow Feedback<br />Reduce Noise<br />Choose Right Audience <br />
  15. 15. Targets<br />Members of Organizations Target Market<br />Current, Previous, Potential Customers<br />Influencers of the Organizations Target Market<br />Industry Trade Associations, Media<br />Other Companies<br />Title & Escrow, Banks, Stagers<br />
  16. 16. Goals<br />Focus first and foremost on your existing customers. <br />Make sure they are aware of the full range of your products and services<br />Create opportunities to generate repeat and higher value purchases. <br />Get your existing customers to spread the word about your business<br />Potential customers:<br />Aim to create brand awareness and credibility. <br />Ensure they understand your offer and how you differ from your competitors. <br />Promote individual products differently to different groups of customers.<br />Have specific and measurable marketing objectives. <br />Will help you decide what your marketing messages should be; what marketing techniques you should use<br />Customer Care:<br />Ensuring that your existing customers are happy with what you offer not only secures repeat business but also generates positive word-of-mouth recommendation. <br />
  17. 17. Items<br />Usability<br />Relevancy<br />Reliability<br />Visibility<br />Objectives<br />Campaign<br />Build Awareness<br />Create Interest<br />Provide Information<br />Stimulate Demand<br />Reinforce the Brand<br />
  18. 18. Get Creative!<br />Giving prospects premium promotional goods will:<br />Increase brand awareness <br />Give a continual reminder of your brand<br />Have something uniqueand emphasize it<br />Customized M & M’s<br />Reusable Items: Mugs, Water Bottles<br />Nonwoven grocery bags<br />e-Grip: Keeps Cell phone from slipping around in the car<br />Compact Items: Umbrellas, Flashlights<br />Techy: Card Reader, USB Thumb Drive<br />Home Items: Cookie Cutters, Flower Seeds, Gardening Tools<br />
  19. 19. Questions/Comments<br />