Four Proven Ways to Improve Business Promotion

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With all the technology available today, there are quite a few marketing channels that business owners can use, let's look at some of the ones that work best.

The basis of all marketing is four main points: product, place, price and promotion. All components are necessary for a successful marketing campaign.

First, conduct market research to find out if the product is needed by customers and where exactly are the customers located?
Conduct a cost analysis to set the right price for your product or service, and use the strategies below to reduce costs and keep prices affordable.
Use promotional tools such as giveaways, guerilla marketing, PR cook islands b2b leads stunts and strategic alliances to better market and brand your business.
Modern marketing involves a huge number of methods, including market research, branding, inbound and outbound marketing, search engine optimization, content creation, influencer campaigns, and more.

Marketing can seem complicated, especially for a manager who is not directly involved with the marketing team. However, marketing has a simple foundation called the four Ps: product, place, price, and promotion.



Product Guide
Before starting a business, conduct market research to determine whether there is a real market for it and whether that market is willing to pay the price. Market research combines consumer behavior and economic trends to validate and improve a business idea.

You can do marketing research yourself. Here's what you need to answer:

Is there a demand for the product or service?
Where do customers live and can the business attract them?
Are similar options available yet and how much do they cost?
Once it becomes clear that the product or service you are going to offer will be in demand by a wide audience, it is time to move on to the next step.

Improving the product location
Unless the business is targeting a major e-commerce platform, it is important to locate the business correctly. The location will depend on the type of business and the results of the marketing research. Here are some examples of locations:

Home is a great place to start your own business.
Retail - store windows, shopping malls, airports, pop-ups.
Mobile - for example, food trucks.
Commercial - for businesses that do not require pedestrian traffic.
Industrial - for manufacturing and distribution operations.
The price is right
Without a business degree, it can be difficult to analyze all the factors that influence pricing. From a marketing perspective, knowing the economic situation of the target consumer is of paramount importance. What will the market price be?

To achieve greater profits, you may need to reduce costs while maintaining a price link to the market. Here are some tips:

Conduct a thorough cost analysis.
Negotiate with suppliers to secure better deals.
Practice portion control/product size control.
Implement energy saving methods.
Now comes the fun part. Promotion is where creativity really shines. The thing is, brands that are willing to take risks and think outside the box often stand out in a crowded market.

Consider how a business can benefit from hosting pop-ups in addition to its main venue. Social media presence is also important (and a separate topic).

Ways to improve business promotion:
Here are some specific ideas that can help your business improve its reputation a little:

1. Free gifts

Consider giving away something that represents the brand. Giveaways should always be part of the marketing budget, as well as the advertising and public relations budget, because nothing builds a reputation like free stuff.

Here are four reasons why giveaways work:

They promote brand recognition and create unforgettable impressions.
They can be shared on social networks.
Attracts new customers and increases loyalty of existing ones.
Provides the ability to collect data such as email addresses.
Giveaways—whether it’s a physical product, a promotion, or a free service—increase community engagement, brand awareness, understanding, and interest on social media. Always use social channels to spread the word about giveaways before, during, and after the campaign.

2. Guerrilla campaigns

Many companies underestimate the value of a well-executed guerrilla marketing campaign. But first of all, what is a guerrilla marketing campaign? It means pursuing traditional goals - profits, sales and growth - through unconventional means, such as expanding product lines during economic downturns to encourage customers to buy more.

It is important to design a campaign that uses guerrilla marketing tactics in such a way that you can evaluate its effectiveness using a combination of quantitative and qualitative metrics. Here's how:

Set clear goals.
Monitor online activity and media coverage.
Calculate your ROI to ensure the money spent was worth the sales and/or customer acquisition results.
3. Old school PR tricks

PR stunts have had a bad reputation in the past, but they are becoming more common again - as long as you stick to the ethical rules. A PR stunt can often be an easy-to-implement, unconventional marketing strategy.

4. Strategic alliances

Look for companies that are aligned with your product or service, but don't compete with it, to create cross-promotional campaigns.



Of the four Ps of marketing (product, place, price and promotion), I would like to highlight creativity. Creativity is the key to marketing, but don’t get carried away: always remember the customer and make everything you do relevant to the brand.