Home – New Forums Marketing mastery New Offers and Promotional Idea’s

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  • #973125
    Captain Simmo
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    Hi everyone…

    I am in the process of putting together a new promotion (TO TARGET NEW AND EXISTING CLIENTS) and I wanted to get some your thoughts and some other great idea’s that I could implement.

    I could also run a few different promo’s for different products or New customers or existing.

    I wanted to stay clear from upselling my own products and instead offer “popular and well known promotional incentives” especially for generating new clients.

    My Budget will probably be between $50 -$100 per average transaction…

    So far I have come up with –

    $50 or $100 Gift Voucher (there are a few available now – Coles, Myer Caltex fuel etc)

    Pre-paid “company branded” credit card with $50 or $100 credit.

    4 Movie tickets (for the whole family, or 2 tickets each for a couple)

    2 Gold Class Movie tickets.

    For ladies – A day spa voucher

    Dinner for 2 at a selection of 4 – 6 Resturants to choose from

    Tickets for sporting events or season passes

    An accumilate points system (so promoting multiple ordering with a BIG prize in mind over a period of a few weeks or months of ordering) and offer big ticketed items such as $1000 50 inch T.V, Laptops etc

    I thought I would also mention that the products and services will be for Business 2 Business Transactions!

    If anyone has any thoughts on what Women or Men (18 – 60 year olds) would perfer to recieve, I would love to hear your idea’s!

    Simmo.

    #1059876
    Keepsakes Design
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    Hi Simmo!

    You have some good ideas so far!

    Here’s another idea to throw into the pot, how about collaborating with some other small businesses. I know I would rather spend my money with ‘local’ small businesses (like us) than the big corporate companies.

    You could get a good deal, ie. cost to you $50-100, for $200 (retail) worth of products/services. Your supplier will get a hot lead from you and a chance to up-sell/cross-sell.
    Your customers will feel valued by such an extravagant gift (up to double the price or whatever you can negotiate). Everyone is happy!

    i.e. Business/personal style consultation and shopping trip worth $200 or a family/corporate photo shoot.

    I’m sure there are heaps of businesses on FS willing to do business with you!

    That’s my 2 cents worth, I hope that helps :)

    Best wishes

    Jackie

    #1059877
    Captain Simmo
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    Keepsakes Design, post: 74151 wrote:
    I’m sure there are heaps of businesses on FS willing to do business with you!

    Thanks for the feedback Jackie…. Great idea!!!

    I shall wait and see if anyone will respond ;)

    Simmo.

    #1059878
    VehicleMods
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    I’d be looking for giveaways with a high perceived value but low cost to you.

    The typical one was accommodation as there is no more perishable commodity than an unsold room! However, I suspect that the idea has been stolen by Wotif and the like these days. You might have been able to buy accommodation for $20 per night once (subject to availability!).

    Maybe you can do a contra with somebody (eg the spa) in return for services you provide to them. eg. I will provide you with leads if you give them a treatment at low cost and you get th opportunity to let the people I send you sample your service so they become a convert to your business.

    The I scratch your back if you scratch mine is a good way to give much greater value than a simple cash incentive/prize. This makes your proposal much stronger….

    I recall one car yard sending flowers on their customer’s birthday hand delivered by the Florist for almost nix for the opportunity to gain a new ongoing customer…

    #1059879
    Keepsakes Design
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    Captain Simmo, post: 74280 wrote:
    Thanks for the feedback Jackie…. Great idea!!!

    I shall wait and see if anyone will respond ;)

    Simmo.

    As Rod says, it’s a good back scratching exercise! You could make the first move and contact the businesses who are suitable :)

    Good luck Simmo!

    #1059880
    Gordon Akman
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    What I have learned in B2B Sales is it’s all about the relationships. If you are close with the decision maker things go well. I would definitely separate your New Business initiatives from your Account Management/Development initiatives.

    Basically I wouldn’t give anything to new business prospects. I would focus on getting your product/service (value proposition) in front of them. I would spend the money on your most effective/best ROI marketing and advertising activities. This can be done in many ways. I find lunches/junkets etc to be the best. Don’t even talk much about business. Just get a feel for them and if they like you doing business with them in the future will be much easier.

    All the ideas you have come up with and listed I would just give to your existing clients. I would just drop in to their office etc and say ‘I have some gift vouchers, movie (theatre tickets would be better depending on the style of people you deal with), sports tickets etc to give to clients and because you are one of my favourite clients bla bla bla I wanted to make sure you got one/some’. I guarantee you will make more deals/sales/money etc doing this than trying to entice new prospects.

    Over time your strong relationships/professional networks is what determines how big time you become in B2B Sales.

    #1059881
    Michael_R
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    I am with Gordon for sure….

    You really should be thinking about the value that you are going to add rather then some incentive to buy.

    You are most likely going to get the wrong customers – ones that will come for your service while they get the reward and then run away once someone else offers something different.

    Offering the carrot in front of someone could be a good idea thou every time I see it happening the return long term is not there!

    #1059882
    Keepsakes Design
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    I absolutely agreed with you guys, the give-away should be a gift to existing clients. Also, it could be an incentive for prospects (become a client/spend $X with us and you could receive). As saying goes… there is no such thing as a ‘free lunch’ :)

    #1059883
    FarahW
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    I think you’ve been given some very sound advice already :) I think such tactics to attract new customers is not always the best choice as they will be fair-weather friends, and disappear once the promotion is over. If, however, it is to reward your existing customers, it could be a step in the right direction.

    Sometimes, it might even be better to use the money to improve your current product or service instead of throwing in all these incentives, which is something customers always appreciate. A product/service that is always improving and innovating is invaluable and will keep customers more satisfied in the long run.. Maybe something to think about? :)

    Farah

    #1059884
    Captain Simmo
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    Thanks for the feedback regarding why I shouldn’t have a promotion to generate NEW clients.

    I would like to understand the reasons Why you wouldn’t advise me giving a new client a promotion?

    At this stage (without knowing why) I will have to agree to disagree on the opinions for this particular business (infact any business that is selling a fast moving consumables with descent margins) and I will give a few reasons why.

    Not all B2B businesses are 100% based on just building strong relationships… Although I do offer this also for 2 of my businesses ;). For this business I drop ship Australia wide so can’t just pop into thousands of NEW and EXISTING clients across the country to build the relationship and say – here is a surprise gift from me. I should also mention that I have my product available at almost every business street corner and people advertising like crazy! The business goal is to build up the database (sell to the masses)

    So basically… having a promotion to generate new clients is the U.S.P…. for this business model. It is to “stand out from the crowd”. The only catch to the client is the product is sold in a “3 pack” so more units are sold and I generate 2x the net profit by offering a promotion. If people don’t want to buy 3 they can still buy individually and I have still got there attention from the promo that hasn’t cost me a cent!

    I guess you can look at it as buy in bulk and save.

    Note: some businesses will go through a 3 pack in less than 2weeks!

    If I don’t offer a promotion my advertising cost will actually go up to sell the same qty without a promotion. I will need to sell double the amount for the just same profit (and pray that my advertising is making the same impact with NO U.S.P). To get more sales I will need to do more “advertising” which will also costs alot more unneccesary dollars!

    My other business is a Marketing company… And again, I disagree that you shouldn’t have a promotion to generate new clients… A “carrot” as was mentioned! All my new clients get a FREE 30 minute phone call/or if in Sydney I will come to your office. I also provide a marketing workbook so we can get started and you get a FREE BOOK valued between $30 -$40 to read. It is just part of MY USP with a dozen of other things also!

    This isn’t to say that I neglect my existing database… I do even more to generate ongoing referrals!

    If you are an accountant or a specialist, then yes… I would AGREE (to some degree) that a $$$ promotion wouldn’t be the most cost effective way to gain new customers… Although, I’m sure I could make it work.

    I would be interested to know what advise you would give an Accountant starting out for the best way to advertise… since they don’t have an existing database?

    And YES, I have all my marketing systems in place and YES I’m very aggressive, cost effective and proactive marketer :)

    I hope I haven’t come across as defensive (as I’m not) just stating my point of view and previous experience…

    I look forward to the feedback.

    Simmo.

    #1059885
    Gordon Akman
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    How many coffees have you had today man? lol

    #1059886
    Captain Simmo
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    Gordon Akman, post: 74656 wrote:
    How many coffees have you had today man? lol

    No coffee here.

    Do you care to answer the question though?

    I would like to understand the reasons Why you wouldn’t advise me giving a new client a promotion?

    Simmo.

    #1059887
    MyGreatIdea
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    Free offers encourage others to trial your services. I took up Keeta Nova’s offer of free copywriting…and now I’m a paying happy customer :)

    Wendy

    #1059888
    James Millar
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    I don’t think there are any set rules with regards to promotions to either existing or potential customers / clients. For potentials – in some cases it’s pointless and in others it’s entirely suitable.

    One things for sure. Everyone loves a bargain, a bonus or a freebie. Done right it can lead to repeat custom.

    Cross selling / promo is great for this type of thing but it requires an equally committed operator of the other business. Sometimes it’s just easier to incur the cost and buy the items yourself (movie tickets etc).

    Helping build better businesses and better lives with expert financial and taxation advice. [email protected] www.360partners.com.au 03 9005 4900
    #1059889
    FarahW
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    Hi Simmo –

    I would like to say I understand that sometimes the tone of someone is not immediately discernible over the internet, so please afford me the same respect when I say I am replying not for argument’s sake but discussion :) also, I am a firm believer of “ask until you understand”, not as a means to question the authority of a statement but to full evaluate and absorb material given, hence I take your questioning in the spirit of understanding. Your questions are big questions that might take lengthy explanations, but this is not the place to write a book, so forgive me any failings in trying to limit my verbose explanations!

    Also, while I understand you own a marketing firm, please do not mistake my answer in anyway as a contradiction to your methods or undermining the work that you do.

    First of all, I don’t think we are really discussing, as an issue, the concept of marketing. To say so would be to perpetuate misinformation that marketing is simply sales and promotion, a definition that I thoroughly detest as it doesn’t even begin to cover the pivotal role of marketing in a business. From your response I am gathering your question is straddling the arenas of sales and promotion (for the rest who are reading and are not schooled in the area of marketing, the latter, while a part of marketing, is neither the central concept nor stronghold of marketing).

    Marketing in today’s day and age is very consumer-centric, and to focus on a product to try and squeeze into the market is no longer the most profitable, effective, or cost-efficient. While a new accountant might not have a profitable client base yet, throwing incentives in a promotion more often than not results in (proven) clientele that flock from one promotion to the next. Standing out requires a serious consideration of market needs and the ability to fill it in, hence my previous answer to consider investing the money to improve your product instead. By improving your product you can achieve a two-pronged result, where you will not only serve current clients better, but increase your competitive edge to attract future clients, which is a long-termed solution, as opposed to trying to sweeten the deal with incentives, a short-termed solution.

    Secondly, please forgive me when I say I think you mistake what a USP is. A unique selling proposition should not be based on incentives in the form of monetary throwbacks but an attribute unique to the brand. That is to say, either no other brands afford customers with this particularity OR this one specific company can do it better. For example, Mountain Dew would say its USP is a higher level of caffeine than other soft drinks; they would not say their USP is a car give-away. A pasta company would highlight its freshness and superior quality as its USP, not the pasta-sauce bundle promotion they are advertising.

    Also, I will not elaborate too much on the difference between B2B marketing and B2C marketing, but in both instances the most important is always to create a relationship with the customer, so as to create extra value. While other facets of the transaction might weigh so heavily towards the competition that the relationship is not enough to create loyalty or a permanence in transaction, to disregard trying to form some kinda emotional basis would be a deduction of value for any business. While you can’t form the same relationship with ALL your customers, it is up to you to discern which ones you should be focusing on. I have seen loyalty or a feeling of betrayal play a heavy part in the buying decision many times, whether in a small transaction or one that involves many millions.

    I hope this explains in part my reasoning for my answer previously, and I hope you spent a pleasant weekend this past few days.

    Farah

    P.S. I responded to our discussion on the event of it being ceteris paribus, as there are so many other variables that could factor into our discussion.

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