Just the phrase “business promotion” can make people feel overwhelmed. Often times, it’s hard to even know where to start. That’s where we come in. For me, the easiest way to understand anything has always been to first break down the basic concepts. For business promotion, that means breaking down the 4 basic types of promotion. Identifying and understanding what they are and what their key differences are will create a strong foundation. After all, promotion should be much more than just information; it should result in revenue for your business. Understanding the different ways to promote your product or service can help you make the right choice for your business.
So, what are the 4 main types of promotion?
The four types of business promotion are marketing, PR, advertising, and branding. The end result? Brand loyalty.
Key Words: Drive, Push
*Driving your product or service in order to push people to buy.*
Marketing is a process by which a product or service is introduced and promoted to potential customers. In other words, marketing is when you drive the message or physical product to your consumers.
Marketing vs. Sales
Though similar in style. Marketing is not the same as sales. Though they share similar tactics, you must remember that they are two separate entities. By working in tandem with a strong sell, a sound marketing message will serve as your sales enabler. When marketing, you will promote the product while communicating and educating potential customers. Marketing thus becomes your brand ambassador in support of your sales team.
Public Relations (P.R.)
Key Words: Relate, Earn
*Relating in such a way that you earn media coverage and promotion.*
Public relations (PR) is the way organisations, companies and individuals communicate and relate with the public. PR is all about building relationships to advance, promote, and benefit the reputation of you yourself and your business as a whole. The goal of PR is to communicate a positive message in order to gain support. It can lead to strong community presence, a growing customer base, lasting partnerships, and even financial support. Above all, P.R. builds the credibility of your organization.
Key Words: Display, Pull
*Displaying your message or product in such a way that you pull consumers in.*
Advertising is the process of capturing public attention through paid messages or information which helps promote or sell a product, service or brand. It is a process of mass promotion which involves audio or visual messaging. Advertising educates the public and attempts to persuade customers to buy and use your particular product or service. Advertising creates awareness and helps increase demand.
Key Words: Knowledge, Association
Branding is the sum of your audience’s perception of who and what your company is, as well as your company’s customer service and your company’s reputation. Branding goes way beyond just a logo or graphic element.
Brand Loyalty (The Goal)
Key Words: Lifetime Results
Brand loyalty is the result of all your hard promotional work. Brand loyalty is a consumer’s emotionally-charged decision to continually purchase a specific brand. How does this happen? Brand loyalty happens when customers believe your brand will exceed all others. When this happens, he or she begins to identify with your brand on a personal level.
Bringing It All Together
Think of Nike. Here’s what each type of business promotion looks like for them.
“Nike is the #1 selling athletic shoe in the United States.”
In this circumstance, by telling others how successful Nike is, you are driving them towards your brand and pushing them to try it themselves.
“Nike was named the official shoe brand of the NBA.”
By reporting that Nike has now been named the official shoe of the NBA, you are telling customers as well as potential partners and investors that your company walks the walk and doesn’t just talk the talk. What’s more, the sponsorship of the NBA makes Nike relatable to sports fans and athletes everywhere. This also gets you valuable media exposure.
“Find your stride with Nike. The next NBA star just might be you.”
By displaying such a clear and compelling message, Nike successfully pulls in consumers, both new and old.
“Nike improves my performance on the court and makes me feel like I can do anything.”
If someone is wearing something with the Nike logo on it, its immediately seen and known. What’s more, thanks to successful marketing and PR campaigns, Nike has become associated with success and athleticism. Nike is thought of as “empowering” and has become known as the go-to brand for getting extra hops on the court.
“There’s no other brand for me than Nike.”
There are a lot of athletic shoe companies on the market, but as a result of outstanding promotional efforts, Nike creates lifetime fans who will wear nothing but products baring the Nike name.
So what does this mean for you?
This means promoting your business is vital for its success. Without promotion, there are core functions that your business can’t perform. By incorporating these basic methods, though, a chain reaction begins. Clients are suddenly informed and engaged. Services and products begin to sell and your business begins to grow. What’s more, your customers are sustained as relationships and trust are built. The bottom line? Without promotion, no one can know your business. So be known! Reach your goals. And stand out from the rest.