Long term goals start with small steps…
Most business owners or executives would agree that a long term strategy is required to ensure the viability of an enterprise. However, the long term must include many small steps along the way. Promotion is one of the “small step” tools you can use to lock in long term goals.
The very definition of promotion is a short-term inducement to take action. To plan the right promotion you must, therefore, define the action you want your customers/prospects to take.
Most marketers would likely say that promotion is used to increase sales. Indeed, promotions such as discounts, low rate financing, high-value coupons and rebates are all effectively used to increase short term sales. If anything, these tactics have been over-used in some industries and have lost their effectiveness over time. But that’s a subject for a future blog.
Promotion can also be used as a small step to feed the pipelines of prospects and information that can be used in long term marketing efforts. Here some goals, other than sales, for which promotion is a good tactic:
1. Provide an umbrella for multiple products
2. Enhance brand positioning
3. Promote a specific feature/event
4. Increasing consumer involvement
5. Obtain prospect contact information for future marketing use
6. Help create a bond between customer and brand
When you define the short term goals that need to be met to obtain long term objectives you can then apply the right kind of promotion to use. At R&A Marketing we are constantly evaluating our clients’ progress toward long term objectives and adjusting short term planning accordingly.
R&A Marketing has been working with furniture retailers since 1984. We’ve helped businesses like yours through good times and bad and know all the tricks for creating high-quality leads. The WHY and the need are different for every retailer. But the one thing that binds us together is the common goal of success. Discover WHY furniture retailers hire R&A to “take you from where you are, to where you want to go”.