Merchant Cash Advance Blog

How a Better Sales Promotion Plan Increases Revenue

   Friday, 25 April 2014 00:00 PBC Blog

Any activity originated to boost up the sales is termed as Sales Promotion of the products and services. It may include; advertising operations, honorable public relations, standing out in the competitions with suitable prizes, offering free gifts or extra incentives, temporary price reductions, exhibitions, telemarketing or other methods.

Promotion can be done by different media. There are many media options open to advertisers. Most common amongst them is print media which includes Newspaper, magazines, banners, pamphlets, adds etc. Electronic media can also help a lot in the promotion and marketing particularly in the modern world. Electronic media may include radio and television. Digital media is one of the most effective and efficient mode of product marketing. It comprises social networking, internet and social media sites.

Creating sales management strategy requires a complete knowledge of the company's products, competition going round in the national or international market and overall purpose of selling product. It must be identified first that which segment of the general public might be interested in purchasing products. There must be creative and attractive way of promoting products. To fund your business in the advertisement field, merchant cash advance is a better idea. When more revenues will be generated in the result of a planned advertisement, the MCA loan amount will automatically be deducted from your credit card.

Main objective of sales promotion is to bring about a change in the demand layout of products and services.

The specific objectives of sales promotion are as follows:

1. To introduce new goods or services:

Promotion of sales is often used to motivate the consumers to try new products and services in the market. For this purpose, free samples are given through dealers during the process of introduction. To increase the effectiveness, discounts in cash or goods may also be offered to dealers to deal with new products and to stock them.

2. To inspire new customers:

Sales promotion measures also play a vital role in attracting new customers for an organisation. Normally, new customers are those persons who are fed up from other enterprises. Gifts, prizes, etc. are used to stimulate consumers to test a new brand and to put their confidence in the new firm.

3. To be competitive among the business rivals:

Most of the companies try sales promotion tools in order to remain in the competitive market. Therefore, in the modern competitive business environment no organization can escape the duty of using sales promotion activities.

4. To build Product Awareness:

Several sales promotion techniques are highly effective in exposing customers to products for the first time by invoking in them, the awareness about the need and benefit of a particular product. Additionally, this can bring round customers to make use of product again and again.

Infact, for marketers, sales promotions are very effective in creating interest in a product. In the retail industry an appealing sales promotions can successfully increase customer traffic to retail outlets. Social marketing networks and internet marketers can use similar prospects to reinforce the number of website visitors. Another important way to create interest is to move customers to experience a product. Such techniques and strategies help the businessmen a lot to provoke in customers the wish to purchase the product at reasonable cost and incomparable quality.

 

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