Keeping An Eye On Sales Promotions
We are today living in a world of advertisement and consumer promotions. Even the best of product or service will not be able to notch up the desired amount of sales and revenue unless it is supported by a well-designed advertising and sales promotion strategy. While advertising the various media forms such as TV, Press and Radio does create brand awareness, there are a number of other ways by which a product, concept or service can be promoted.
Conducting regular sales promotions is a good way of reaching out to the customer on a personal level. In fact, if one looks back upon history and judges good and successful companies, they have grown up and made a place for themselves because of word of mouth advertising and regular conducting of various sales promotional activities. Such activities apart from enhancing sales also gives the company representative a chance to interact freely with the customer and get some feedback from them about the quality and services of various products, services and concepts. Hence, the importance of sales promotions in today’s competitive world cannot be ignored to say the least.
There could be many types of such promotional activities. This would depend on various factors such as the product, or service or concept, the targeted audience, the duration of such activities, the main purpose or objective of such activities, the geographical spread etc. For example, there could be a promotional campaign running to introduce a new product into the market. The objective and purpose of such a campaign would be more directed towards creating awareness of the product rather than generating sales and revenue. On the other hand, there could be a pure and simple promotional activity that is aimed at increasing sales and revenue. Such promotions are very common and they keep happening almost during the entire year. However the number of such promotions increases during the festival period because that is the time when customers are on a buying spree.
Most of these promotional activities take a lot of planning, time and effort to implement. Companies by themselves may not have the time, resources and skill sets to conduct such promotional activities. Hence, more often than not, these activities are handed over to some professional advertising and promotional companies, who would be able to do a much better and thorough job of it. Though it may cost some money for the company, the expense is worth it because of the final benefits that will accrue to them. However, companies should exercise care and caution while choosing such professional marketing and sales promotion companies. They should gather as much information as possible and it would always be better to go in for some reputed brands though they may cost more than new entrants and marginal players.