3 Types of Promotions That Help Grow Your Business

March 7, 2017 By

Cheryl Dykstra

There are an infinite number of ways to promote your products and services. That makes planning your promotions seem a bit overwhelming. Thankfully, there’s an easy way to pick the right type of promotion for your business.

The key to running a good promotion for your business is to choose exactly what you want your audience to do, and then design your promotion to encourage that behavior.

There are 3 key promotional categories:

· Monetization

· Activation

Monetization promotions are about making money. These campaigns are all about trying to sell your products or services to your engaged list members. They are essential to running a profitable business, though they still need activation and acquisition promotions in order to build and warm up an audience in order to be successful. Affiliate promotions would also fall into this category.

Activation promotions are about engaging and exciting your email list. For these promotions, your focus should be to turn unengaged people on your list into buyers. You can also use them to excite your audience about a particular topic or product.

This type of promotion could include flash sales – which offer big discounts on your products or services to create value that list members find it hard to say no to. To learn more about Flash Sales, read our article Running Facebook Flash Sales to Boost Customer Acquisition.

Acquisition promotions are about building your list. Free giveaways and lead magnets make great acquisition promotions, because they are low-commitment, high-value offers for people who don’t already know you or your business. If you include an offer on top of those lead magnets, you could acquire customers at a profit.

This type of promotion might only break even or may even take a short-term loss. But, the important thing to keep in mind with these promotions is that they are intended to generate leads and potentially some low-dollar buyers. Don’t worry though, once you build a good list, you can target those new leads with more profitable monetization promotions in the future.

As we said in the beginning of the article, there are countless ways to promote your products or services. These categories are just an easy way to visualize the different goals you can have for your promotions and what success looks like.

If you need help planning your business’ promotions, the experts at Sales & Marketing Technologies can help! Call us today at 407-682-2222 or use the contact form below to get in touch.

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