How To Win By Increasing Market Share Through Cross Promotion
by admin | November 5, 2009 | In Advertising | No Comments
So you want to increase your market share? You competitors are experiencing huge success and you are still hovering with less than 1% of the market. How do you move up the market share ladder? How do you increase awareness of your market and the product or service that you offer? These are challenging questions that confront many business professionals. Particularly today with the wide range of products and services that are available to the consumer. Particularly with the tendency for many people to spend less money and who often think twice about spending their hard earned money
Money is hard to come by and your product or service better be good, or no one will spend their money on it. This article will not ramble on an on; repeating the same old cliques about making money on the internet. There is no monetary call to action waiting for you at the end of this article. You have had enough of that I’m sure. But here are some of the things that you can do, not all online related, to be successful in marketing your business.
Embrace the internet- That is what thousands of marketers, business owners, and entrpreneur are doing today. Yes it is a trend. But you must make sure you are not doing it because everyone else is doing it. Ask yourself the question is it good for you? If you are a local company, no doubt it can help you. If you are a national company it is a must. To what degree do you devote internet marketing to the mix? You must answer that question as well.
It may be that your internet marketing program should be a compliment to your overall program, you need to think through all the components and allocated resources according to importance.
Looking into Co-Promotions With Media Companies- There is power in promoting your brand and even more power in joining forces with another powerful medium. With all the talk of traditional media losing its impact; it is all overblown and not true. Yes newspapers and broadcast media are losing cirulation and advertisers, however they are still very useful in bringing a mass audience together quickly.
Recently a television station made an announcement on their 6 PM newscast for consumers to bring their old analog television sets to the station for recycling. They set a time for this to happen and gave direction to the station. To there surprise the second day of the event a line of cars stretching over three miles down the road extended from the stations doors to the end of the line. There was so much traffic that the station had to call the police department to direct the traffic caused by this thoughtful community service promotion.
Just think if you were in contact with the station and negotiated a co-promotion with the station prior to the event? a There were numerous was where an enterprising company and the station could have benefited from this event.
- A Local appliance store could have advertised on the news segment. They could even give out free coupon off the purchase of a new digital ready television set. They could also send each consumer to their website to download additional coupons.
You get the point, you must think creatively about how to promote and market the product. There is still power in reaching a mass audience at the right time.
- Think about upcoming events, both nationally and locally. Writing a blog and focusing on how to effectively purchase a products which you sell and cross promoting it with a national or local retailer. Think about seasonal events and how you can cross promoted those events.
- Consistency and frequency of advertising are important and the multiple platforms that you use are equally important. Think through how you use new media in conjunction with traditional media.
These are just a few ways you can marketing your company or service int the age of new media, visit this site again for additional information.
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