There is a strategy in marketing that is aimed at stimulating customers to take action and make a buying decision. This technique is called - promotional marketing and consists of various incentives. Let us see what they are.
Let us start with sampling. Many businessmen make a mistake when they think that if they give goods away for free it will be profit limiting. But let us have a look at a very good example of successful sampling. “The Idea Virus” book written by Godin and released in 2000 was given away for free on the Internet as an e-book. Just imagine that four hundred thousand copies were downloaded in less than a months. A buzz about the book was created and it made it number 5 in Amazon bestseller list. So, it’s up to you to decide whether to use sampling in promotional marketing or not, whether to give custom toy items away for free or not.
Another popular incentive is coupons. About 76% of businesses use coupons in accordance with the statistics of Promotion Marketing Association Coupon Council. More than 302 billion coupons were issued in 2007! And today this strategy works and helps small businesses. It is more affordable than, let us say, custom apparel for them.
Finally, contests. This solution is also nice for small businesses, but Pepsi uses it quite successfully too. Contests help to create awareness and are a very attractive strategy.
Now we know a bit more about the incentives of promotional marketing. More useful information is coming up.