The Internet is full of effective online marketing strategies for promoting a product to potential customers, but ultimately, the most effective methods of product promotion are those that suit both the product being promoted and your business.
Good online marketing strategies must fit the market that the product is aimed at.
Product promotion means that the business promoting the product will implement a set of actions to inform and attract the attention of as many potential buyers as possible to the promoted product.
How to promote a product?
Using the internet to promote your products is one of the most effective ways to attract interested customers to your business product.
In this article, we will present the most effective methods of promoting a product through advertising and publicity on the Internet.
Let’s get to work!
Too often, brands focus exclusively on attracting as many new customers as possible. However, acquisition costs add up, and if customers only buy one product and don’t return to the site for further purchases, these customer acquisition costs become hard to overcome.
That’s why, as part of a product promotion campaign, you’ll also want to focus on things like:
- Increasing the average order value.
- Increasing the number of orders per customer.
- Increasing the number of new customers.
5 ideas for promoting a product:
- Introduction of a loyalty programme.
- Implement an email marketing retargeting campaign.
- Use of discount coupons sent to customers via SMS or email.
- Implementation of a monthly subscription system.
- PPC campaign implementation – Facebook Ads & Google Ads.
Next, we won’t go into too much complex detail, but we aim to give you a fresh perspective on promoting the products you sell online. So, let’s go into a little more detail about the 5 strategies for promoting products in your business’ online store.
- Customer loyalty with a loyalty program
It is clear that once a customer makes a second purchase, you will no longer have to pay the cost of acquiring that customer and they may recommend your business to their friends.
However, repeat purchases don’t come for free. You’ll need to invest strategically and in the right areas.
Introducing a loyalty program into your product promotion offers special benefits to targeted customers and can convince them to become loyal customers of your business.
Loyalty programmes can be free or paid. For example, an online shop can implement a yearly membership fee of 50 / 100 euro that gives customers a constant discount of 5 – 10% on almost any item, exclusive products and even free returns on all orders.
Loyalty programs can also be unpaid and use a points system, where a certain number of points gives customers different rewards or even discounts on future orders.
These loyalty programs are effective as product promotion techniques because they give customers a reason to return to your business’s online store site.
2. Retargeting customers through email marketing
Email marketing is an opportunity that many start-up online stores miss.
Email marketing is the ideal channel through which product promotion strategies can be implemented and through which repeat purchases can be consistently generated.
Who does the email marketing campaign target?
The email marketing campaign will be set up to target customers who are placing their first order on the website.
The first email is set to be sent 15 or 30 days after the first order, unless they have made a second purchase in the meantime.
This retargeting email will then automatically be sent to new customers who have not placed a second order on the site.
These retargeting emails may offer 10% discount, free delivery or even promotional codes with considerably higher discounts (15% – 25%).
- SMS Marketing Campaigns – discount coupons sent to customers via SMS:
As long as you have good and real offers, you can keep in touch with past customers via SMS messages.
Implementing an SMS marketing campaign is a bit more complicated because you have to take into account GDPR and the conditions imposed by it.
Through SMS Marketing campaigns you can announce the launch of a new product on the website to customers who have purchased similar products in the past or even offer them different promotional codes on the occasion of legal holidays and their birthdays.
- Monthly subscription for customer loyalty:
Although it might not seem like it, offering a subscription to products sold is a marketing decision.
Offering a subscription method positions the products as essentials in everyday life.
However, building a subscription model requires more work than other ways of promoting products, but this method is extremely effective in providing recurring revenue.
In such a subscription you can offer a package of “x” monthly items, which come extra and with free delivery to the customer.
You should also offer customers the possibility to choose their own subscription packages from a wide selection of products (a kind of bundle).
- PPC campaigns – advertising a product through Facebook Ads / Google Ads:
When it comes to Facebook Ads and Google Ads, online shops have a lot of opportunities in terms of setting up a product promotion strategy.
A traditional route is to pay for PPC campaigns to Facebook, Instagram (or even Pinterest) and Google, so that they can display ads of your products to potential customers.
A relatively new, interesting and often more financially convenient route can be Influencer Marketing – collaboration and partnerships with influencers who are followed on Facebook, Instagram or YouTube by the audience your products target.
Why product promotion is important?
Product promotion contributes to brand awareness, recall, credibility and sales. A product without the right promotion strategy is like a car without wheels – it won’t move.
There are many ways to promote products, and marketing specialists know how to choose the right promotion strategy for the product or service your company sells. An expert will suggest exactly how to promote a product to get the results you want.
When launching a new product on the market in a competitive environment, you need to choose the most appropriate methods to promote a product. Product promotion also allows you to collect important information about your customers and analyse it together with your marketing team to develop better strategies for the future.
Each product promotion campaign will provide your company with information on market trends, customer desires and consumption patterns. How customers react to a product launch depends greatly on the product promotion through advertising and publicity that a marketing agency can achieve.
The biggest advantage of promoting your product in today’s digital world is the use of online platforms. Online platforms allow you to be more visible on the internet, to current and potential customers.
Although it is important to know why it is important to promote a product, you need to know exactly how to promote a product and you need to be consistent enough to go through the steps involved in a product marketing strategy.
Small and medium-sized businesses really need to understand the importance of promotion and marketing strategies. Business promotion is an active process that needs to be considered very carefully to get the best results.
The many methods of product promotion and marketing approaches go hand in hand. Promotion is a key element in providing customers with the benefits of your company’s product or service. Well-designed marketing and product promotion strategies ensure long-term success, bring in more customers and ensure business profitability.
Promotion is the voice of your company, which conveys your brand’s message to the public in a purposeful way. Various media platforms can be used to promote your company and brand, when a product is launched on the market and you want to make an advertisement for a product. The methods used include television, radio, magazine, billboard, magazine articles and advertorials and social media posts.
Numerous promotional methods can be used to properly promote your business according to your company’s goals, objectives and priorities. Without marketing promotions, product launch strategies, your company’s brand would not be able to attract the attention of customers interested in the area of your market.
Benefits of promoting products or services
Brand promotion is useful in many different ways:
- Increases brand awareness
- Provides appropriate information
- Increases customer traffic
- Generates sales and profit
The benefits of promotion are undeniable. Promotions and promotional campaigns will help your company to easily introduce products in an ever competitive market.
1) Increase brand awareness
Promotions help boost brand awareness. With the help of various media components, such as TV, billboards, radio or local newspaper news, you can spread information about your brand and your company, which helps people to learn more about your company and to search for your products and ultimately make purchases. Launching a new product on the market should be accompanied by proper promotion, through different methods.
2) Identifying the market segment
If your promotion and marketing strategy is poorly structured, you may not be successful in targeting the “right” audience. By having a complete and well thought-out promotion strategy and marketing plan, you will identify different consumer segments in the market and be able to offer the right solutions to your customers. A media agency can conceive the best ideas to promote a product, in order to offer the product to the market in the best conditions.
3) Increase traffic volume
Promotion also helps to increase customer traffic. The more you promote your brand, the more customers will know about you and your company and the more they will be interested in your products. Among the most common strategies to promote a product is for example offering free samples, which works wonders for customers! They try the product and eventually come to your company and make a purchase.
While these product promotion techniques are very important, marketers and companies need to keep in mind a few aspects of their marketing mix plan. It is essential that businesses use the right media tool to target their customers. Nowadays, when social media is the most effective tool on the online platform, promotion strategies need to extend beyond radio, TV and print.
We hope this article has helped you understand how to promote a product to new customers, how to build customer loyalty and how to increase your online store revenue.
If you have any questions or would like us to help you, take a look at the online marketing services we can offer you and contact us!