Promotions include all of the activities done to promote a product, service, or brand to customers. Promotions include informing customers and attracting them to the store or to the business. The ultimate goal of promotions is to increase sales and brand loyalty.
Promotions include a lot of activities like press releases, product discounts, brand activations, and advertising.
Types of promotions
Depending on the type of product and your business needs, there are different types of promotions that you can choose from. Some of the most popular types of promotions are:
- In-store promotions (sales promotions)
In-store promotions or sales promotions have the main objective of increasing sales. These promotions are done inside a physical store (brick and mortar stores). They include discounts, BOGO promotions, and flash sales.
Advertising is a type of promotion that helps brands increase brand and product awareness. There are different types of advertising, including digital marketing.
- Direct marketing
Direct marketing is a form of product or service promotion that includes approaching and communicating with the customer directly.
Publicity includes different tactics like reaching out to publications to promote your product, attending events, and promoting the product on television or on the radio.
In-store promotions ideas
In-store or trade promotions are the most common tactic used by brick and mortar retailers. This is because it gives them a chance to promote the products right at the point of purchase.
There are different tactics that physical retailers can choose from when it comes to in-store promotions. As mentioned, most retailers and brands go for discounts or BOGO promotions. However, using certain types of POP displays like digital or robotic displays can also increase sales without having to cut off prices.
One great in-store promotion idea is to take advantage of the space you have and combine different elements to help you promote your products. Also, think about bundles. So, instead of lowering prices, you could offer a bundle and you also get rid of certain deadstock products.