The objectives of any marketing promotion are based on the goals and strategies of the company launching the project. In general, the marketing objectives of promotional efforts are aimed at attracting new customers, increasing sales, raising awareness, or expanding market penetration. The scope of an initiative is typically based on the company’s advertising budget.
Increase Business
Marketing promotions are used primarily to attract new customers to a business. This can be done through a variety of promotional actions, such as running targeted advertising campaigns, holding special events, or launching a social media blitz. The objective is to reach potential new customers and give them an incentive to patronize your business.
Increase Sales
Once people become customers of a business, another promotional marketing objective is to encourage them to increase their spending. An example of this marketing objective in practice is the use of a customer “rewards” card that tracks what the customer purchases and generates coupons for similar products. In this sense, the objective of the marketing tactic is to get customers to buy additional products, or more expensive products, than the ones that initially brought them to your business.
Encourage Repeat Business
The objective of retention marketing promotion is to turn one-time customers into repeat customers. This can be done through collecting customer contact information and putting the one-time buyers on a direct-mail or email advertising list. These customers then receive special offers, advance notice of sales, special perks, and “two-for-one” offers designed to keep them coming back.
Brand Awareness
To keep its name in front of consumers and reinforce its image, a small business should have a marketing objective of building brand awareness. This can be accomplished in part by being consistent in all marketing messages and using inexpensive promotional products. An example: give-away items such as refrigerator magnets, ink pens, coffee cups and calendars imprinted with the company logo or image. People who take these items have a constant message in front of them, bolstering brand awareness of the business.
New Product Introduction
The objective of promoting a new product launch through marketing initiatives is to expand a company’s reach into new markets, while still retaining its existing customer base. An example of this approach is a cleaning company that expands its services to include handyman-type home repairs. The objective of the marketing promotion would be to attract new customers seeking home repair services, while cross-selling existing customers who already use the company for their cleaning needs.
Promotional objectives are goals of marketing communications such as advertising. They are typically designed to be measurable using one of the following techniques.
Promotional objectives are goals of marketing communications such as advertising. They are typically designed to be measurable using one of the following techniques.
Brand Recognition
The percentage of your target market who recognize your brand from its name or visual symbols. It is common for large brands to advertise with the objective of building and maintaining brand recognition.
Brand Awareness
The percentage of your customers who associate your name with a product category. For example, people who name your brand when asked to name a cloud platform.
Demand Generation
Generating demand for products and services. For example, a retailer with an objective of increasing floor traffic by promoting a sale.
Market Penetration
Increasing your market penetration rate. For example, a technology company locked in an intense competition for a growing market may target market penetration over profits.
Brand Image
Objectives to build a specific type of brand image in the minds of customers. For example, a luggage company with an objective of being perceived as a luxury brand.
Reputation
The objective of building a reputation or repairing a reputation.
Sales Leads
Promotions that are aimed at directly generating leads to close sales. In this case, promotions may be measured by cost per lead.
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