May 23, 2012

Targeted Promotions That Can Benefit Your Business

[caption id="attachment_393" align="alignright" width="300" caption="Targeted Promotions That Can Benefit Your Business"]

[/caption] Promotions are meant to increase your sales by encouraging customers to choose you over your competitors. However, many businesses end up spending a lot of money on promotions that offer very little ROI (Return On Investment) because they fail to reach the customers who are interested in a particular product or service. That’s why targeted promotions are often recommended, since they reach out to certain audiences that just need a little push, such as a money-saving deal, to visit your business. There are a few common types of targeted promotions that can appeal to your most promising customer bases. Location-Based Promotions One of the most popular types of targeted promotions is a location-based program. This involves reaching out to customers who are in the vicinity of your business. You can do so by only offering promotions to people with smartphones with GPS (Global Position System) that shows they are within a certain distance from your business. According to Jack Winston of Bozuko¹, one of the most popular ways to target people near your business is to require them to check-in on social media websites before they can get a money-saving deal. You can also encourage potential customers to “like” your business on Facebook in order to save money. To make sure only people nearby can do this, you can post a phone number at your business that people can text to get a percentage off their purchase. You can also post a sign about the promotion at your location or perhaps in areas that attract your target audience. For instance, if you want to appeal to parents of young children, you can advertise targeted promotions at toy stores or businesses that offer classes for kids. AT&T is just one company that now offers location-based promotional services for businesses². HP, JetBlue, and Kibbles ‘n Bits are a few of the companies that have used this service so far for targeted promotions. Todd Wasserman of Mashable Business³ reported that Coca-Cola and PepsiCo have both used location-based promotions, too. Birthday Marketing Another targeted promotion method focuses on your customers’ birthdays. This is a well-liked method because many people expect to get a deal or even a free item on their birthday, so they often look for such promotions. For example, many restaurants offer a free dessert, while coffee houses might offer a free coffee. You can choose to keep track of birthdays for customers so you can send a text or a coupon on their special day, or you can just advertise the policy so everyone is aware. Not only will you make your customers feel appreciated on their special day, which they will likely tell others about, but you may also directly benefit from them coming in on their birthday. This is because many people end up spending money even when they are offered a free item, as they do not merely stop by for the free product or service. They might bring friends, or they might buy something else while there. Plus, you can get free advertising by getting on lists that offer free birthday products, such as the one by Mr. Free Stuff⁴. For more information, visit: 1. Bozuko: How to create more targeted promotions with location-gated sweepstakes 2. AT&T Advanced Ad Solutions Launches ShopAlerts 3. Mashable: Coca-Cola Launches Location-Based Summer Promotion 4. Mr. Free Stuff: Free Food Deals for Your Birthday