Few things can strike fear in the hearts of retailers in quite the same fashion as waffling customers. Those are the distinctive actions of folks holding tight to their purse strings, debating the wisdom of purchases great and small. Regardless of whether the product in question is a brand new boat or an inflatable pool float, the psychology behind the purchase decision can be the same: some indecisive customers will remain on the fence, unable to make a definitive choice between making a purchase or leaving the good or service on the shelf.
Enter the art of promotional marketing for Michigan business owners. Promotional marketing plans are tools used specifically to motivate consumers to make a decision to purchase a product. These marketing efforts are intended to provide a necessary nudge to consumers, providing the final encouragement needed to conduct a sales transaction.
How Does it Work?
There’s no sense of deceptive advertising involved. Instead, promotional marketing is simply a case of elevating awareness of the product in question in the minds of consumers, and hopefully providing some sort of impetus that leads to the sale.
Examples of promotional marketing materials are everywhere. Big box retailers distribute weekly sales flyers in the mail and via newspapers, noting discounted prices for a range of groceries and other merchandise. Cell phone sellers hang banners across store entrances, highlighting the availability of data packages for multiple lines at a clearly defined price. Massive sports drink companies sponsor nationally televised sporting events in the same way a local bank will a sponsor a hole at a chamber of commerce golf outing with the same purpose: elevating consumer awareness and influencing a sales decision. A mom-and-pop ice cream shop might offer free ice cream samples to passers-by on the sidewalk.
In every instance, the mission of promotional marketing is the same – finalizing the sale for previously undecided customers. The results can mean the difference between success and failure in any industry.