Table of Contents Hide
- LOW-COST ADVERT STRATEGIES TO USE
- What are the 3 types of promotion?
- What is the best promotion strategy?
- How many pricing strategies are there?
When we talk about low-cost advert strategies we simply mean cost-efficient advertising strategies. Advertising has become a very vital part of any business, especially in relation to marketing and sales, today it is very obvious that most businesses cannot survive or achieve the needed growth without good advert strategies especially the ones that are cost-efficient. Putting up an advert requires a lot of work and funds too, but we want to provide you with more cost-effective or rather low-cost advert strategies.
Cost is very crucial in anything that has to do with business and as such should be paid close attention to. In relation to advert strategies cost is also a major player and should be given needed consideration so that the money spent on an advert will not affect the profit of the organization adversely. Also, whatever strategy intended should be of minimum cost in relation to the profit expected. It should also be noted that when choosing a strategy, some of the low-cost strategies might be less effective. As such companies must find a way to strike a balance between low-cow and less effective advert strategies.
LOW-COST ADVERT STRATEGIES TO USE
Now we want to consider some of the low-cost advert strategies you could use to promote your business and also boost sales. The next few paragraphs will throw light into which strategy is most cost-effective and which is tailored to each business.
Some of those strategies would include
PERSON-TO-PERSON OR DIRECT ADVERTISING:
This kind of advert strategy is usually very cost-effective and can go a long way to send a message to the target customer. It cost much less than the other advert strategies and has a far-reaching effect. Moving on foot from store to store or house to house to give information about a product. Enlightening the customer of how well the product will cater to his/her need. It also gives the opportunity to interact with the intended customer. Also, get feedback on what they feel about the product. What changes they would want, and how better they would want to be served. This method has proven to be very cheap and very effective and could be applied to most businesses.
This is another method that is also proven to be a low-cost advert strategy, asides the newspaper that is a little on the high side, other forms of print media like flyers, posters, handbills, stickers, etc usually cost less to produce especially when it is done in large quantities. These fliers, handbills could be dropped in strategic places that have a lot of human traffic like banks, hospitals, churches, bus stops, shopping malls, and a host of others.
Some companies have also sorted the service of young people on roller skate who share these fliers in traffic to those in their vehicles and other road users. Posters also are pasted in public places where they can be seen easily. With means the message intended has reached a large coverage area and people too. If this method is properly used and well structured it can reach more places than other advert strategies.
DIGITAL MARKETING OR SOCIAL MEDIA ADVERT STRATEGY:
Many forms of social media advertising are free to use and can generate a lot of traffic for your business. A business profile on the various social media platforms can well n this sense. Also use a business blog like BUSINESS YIELD to connect to your intended customers. You can share news about the business. As well as new products and promotions offered so as to entice potential customers. Always keep the platform active so customers can build confidence in the business.
This is another low-cost means to showcase your business. When a trade fair is organized it provides the opportunity for business to bring their business to a wide range of customers. Also display most of the products of the organization. Also the potential get to interact with the business directly and not middlemen which in the long run boost the confidence of the customer.
HOSTING AN OPENING CEREMONY:
This is very cost-effective, like most grand openings or similar events at the place of business. It gives the intended customer the opportunity to get first feel of what the business is about to offer to them. Just like some drinks companies, they could serve free drinks for taste, or also give away some of the new products for free. Like the automobile companies could organize free test driving for their new vehicle. This will entice the customer to the business.
Sometimes firms with similar products could come together to promote each other’s products. The customer is forced to believe in the product because a supposed rival firm is now promoting the product one each another. This can greatly reduce the cost of advertising alone.
Most businesses have used this method a lot; it involves going around town in branded cars or an entourage with loud music on. Showcasing new products of the business. It helps the business to effectively create awareness about the business and it products.
Having mentioned some of the low-cost advert strategies, companies should bear in mind that not all the methods might work for their product or type of business. Should find the best strategies that will work effectively for their business and use such methods judiciously.
What are the 3 types of promotion?
- · Activation.
What is the best promotion strategy?
Public relations, or the development of a positive brand image in the media, is one of the most effective promotion tactics.
How many pricing strategies are there?
These are the four primary techniques, each of which is employed in different ways throughout the sector. Aside from the four main pricing methods — premium, skimming, economy or value, and penetration — there are a variety of alternative options. The item for sale is referred to as a product. A product can be either a service or a physical thing.