What Are the Components of a Promotional Plan?
Component #1: Target Audience
The first and main component of a promotional plan is the target audience, without which there can’t really be a successful promotional or any other roadmap and strategic marketing plan.
The target audience is the type of people for whom your campaign targets is made.
-the one who will purchase the product
-target right to get the right audience
Component #2: Promotion Name
-the name of the promo campaign
Component #3: Promotion Type- the benefit the audience can get by purchasing a product/service
Examples: percent off, Dollar/Tsh off, buy more save more, free shipping, cashback offers, tax free savings, etc.
Component #4: Key Message
-the message in the advert
Component #5: Promotional Products & Swag
-is branded swag and products.
-Because they usually include your logo or your company’s slogan
-like hats, tshirts, socks, gloves, pen, pad etc
Component #6: Notes
Notes will help you write down and therefore keep track of additional comments, information, and promotional ideas or actions you might want to take.
Promotion. That’s what we’re all about. (that is all about marketing) Whether it’s direct marketing, PR, advertising, content marketing or in-store pitching, promotion is what we, as marketers, do best.
Promotion means raising awareness of a brand, product or service within a market; telling a story to encourage consumer engagement. Promotional strategies work on multiple levels. They raise brand awareness, increase sales and generate revenue. Why should someone purchase from you over your competitor? How will you solve their problem or enhance their life?
You need to answer questions like these:
- Where is your audience able to find you? Online or in a physical store?
- Does the time of year affect your business? If you only sell swimwear or, in contrast, you only sell Christmas decorations you need to take this into account when developing your strategy.
- What is your brand personality? The type of identity you have will inform your promotional messaging and design. Do you portray yourself as down-to-earth, professional, playful, sincere, exciting?
- How do your competitors promote themselves? Analyzing the promotional strategies of your competitors, or wider market trends will help to inform your own strategies. Consider regularly conducting a SWOT analysisso you can really take a deep dive into your own tactics and the market competition.
Common promotional strategies, for marketers, come under two categories. Traditional and digital. Traditional marketing refers to print media, broadcasting, direct mail, billboards and posters, and referral, i.e. word of mouth. Digital methods mean email marketing, social media promotion, content marketing, search engine optimisation (SEO), mobile marketing and paid advertising.
The way that you choose to communicate with your audience and promote your offerings will have a direct impact on the success of your brand. Post a message in the wrong place, at the wrong time, or to the wrong person and your sales will likely be negatively affected.
PROMOTION STRATEGIES IN PRODUCT LIFE CYCLE
Introduction- build product awareness among early adopters and dealers,
Use heavy sales promotion to entice trial
Growth- Build awareness and interest in the mass market, Reduce to take advantage of heavy consumer demand
Maturity- Stress brand differences and benefits, In charge to encourage brand switching
Decline- Reduce to the level needed to retain hardcore loyal, Reduce to a minimal level.