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articles on promotion

articles on promotion Getting customers to plunk down cash or credit cards remains a painfully slow process in this struggling economy. And that’s precisely why it’s important and always will be to lure potential buyers with promotions. In fact, coming up with attractive promotions has become a bigger deal than ever. When done correctly, promotions get customers out of a holding pattern by giving them an incentive to take action before a limited-time offer expires.Promotions can spur purchases by established customers, reel in new customers, draw customers from competitors, get current customers to buy differently, and stimulate business during slow periods. But rarely can one promotion accomplish all of those objectives at once. As a result, you must decide which of the following is most important so that you can target your effort After carefully and thoughtfully defining the audience and the change you want your promotion to inspire, ask yourself this question: If you offer a time-limited incentive, is it likely that the customers you’ve targeted will respond? If so, continue to the next step Price offers must be strong enough to compel, but reasonable enough to keep your business out of red ink. Avoid uninspiring 10 to 20 percent discounts, but also avoid very deep discounts unless they promote a loss leader to generate other higher-margin sales, or unless they’ll attract valuable new customers into your business. Coupons always make a comeback in penny-pincher markets, which means they’re hugely popular these days. Even young consumers and affluent shoppers--groups that traditionally shun coupons are using them, boosting the typical 1 to 2 percent redemption rate by nearly 20 percent. Printed coupons are still the most widely circulated, but printable coupons, distributed on web sites and via e-mail, provide a terrific way to test price offers with business friends and fans before incurring costs to promote the offer more widely via other media.

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