No product or service is the same, and therefore, it is important to utilize different marketing strategies for your company. These different promotional strategies each reach a different group of people and promote products and services in different ways. It is important that as business owner, you understand how to properly execute each promotional strategy so that you might be able to choose the right one for your own unique company.
Word of mouth
Word or mouth is the cheapest and typically the most effective means of promotion. In this form of promotion, companies choose to utilize oral communication in order to create discussion about the product. This can be seen through social media, brand ambassadors, or physical vendors. One of the oldest and most common form of word of mouth is through story. Whether the stories are fact or fiction, many companies choose to develop a story in order to promote the brand.
Word of mouth marketing is cheap and effective. At the end of the day, consumers have learned to trust people they know to promote a product more than they trust a commercial. If you create a conversation about your product you will likely see huge increases in volume of sales
Sampling promotions is exactly what it sounds like, it involves giving people a sample or taste of your product or service in hopes of hooking them. This is type of promotion that Costco is known for. By providing a free sample you are creating an acquaintanceship between a customer and a product. While most people are not willing to pay to try something new, few people will turn it down if it is free. The ideal in this situation in this type of promotion is that the product will make a great first impression, and the person will see it to be worth the cost based on the initial sample.
Media marketing is a new, but growing type of promotion. Unlike word-of-mouth marketing, many times with media marketing you are paying for your advertisements. These would be the ads that pop up on the computer screen while people are looking elsewhere online. With this type of marketing, creativity is key. Be sure to capture what needs to be heard with a first look, because that first look will typically be all you have before the consumer looks away.
Another form of media marketing would take place through a company blog. Unlike “word of mouth” you are the one promoting your own product rather than having others do it. The goal with this type of promotion would first off be to draw people in first look, but this type of promotion can also turn into “word of mouth” promotion if executed properly. This would mean, creating a blog or advertisement so meaningful that others choose to share it.