With the rapid rise in e-commerce, promoting your business might be the necessary tool you need to grow your business. In this Business Kitz blog, we will explore the benefits associated with promoting your business and the best methods to do so.
Why should you promote your business?
There are various different reasons why you should promote your business. The main purpose of doing so is to familiarise your target audience with your product or brand which will therefore increase the likelihood of potential customers engaging and purchasing your product. This is especially important when you are just starting your business with little to no market presence, or you have just introduced a new product and want to get the word out.
Here are a list of reasons why you should consider promoting your business:
As mentioned previously, promoting your business gives you the opportunity to connect with your customers. Using different media channels such as social media, billboards, television etc, allows your business to be more creative in how you want your customers to perceive your brand. Holidays and other seasonal activities are a great way to keep up with changing trends.
Having a poorly structured marketing plan can have a negative impact in not reaching the desired organisational goals. This is why it is important to map out your promotional strategies thoroughly, so that it is easy to pinpoint what works for your business and what doesn’t. Within a market, there are different segments by which customers can be categorised into based on their demographic, psychographic, behavioural and geographic values. Check out Roy Morgan’s value segments for more information.
Increasing customer traffic
Promotion organically increases traffic on your website because people become curious as to what your product is and what function it supports in their lives. Social media marketing metrics provide an insightful look into your reach. For more effective results, it may be a good idea to invest in paid advertising to increase your reach. Increased traffic gives you the greatest chance at generating potential leads, impressions and building long term relationships.
How to promote your business?
So you’ve decided that now is the right time for you to promote your business. Deciding what the best method is can be a confusing and tedious process. It is important to take into account the legal implications that you must take note of when deciding how to promote your business.
Here are a few ideas on how you can promote your business to help stand out from you competitors:
This may seem obvious given how popular social media marketing has become over recent years, however, there are a multitude of platforms that you can use to target your specific audience based on consumption patterns. When considering how to promote your business on social media, creating content that best attracts your customers and really resonates with them in the form of unconventional methods such as a blog post, video tutorial and infographics can showcase your businesses knowledge and expertise.
There are cheap ways to promote your business, such as designing high-quality visuals, your audience has a visual association with your brand, which can build positive connotations. Research suggest that the growing number of audience utilises visual cues when deciding whether to follow and support a brand. Therefore, investing in high-quality visuals can really help separate you from your competitors.
If your intention is to reach a larger audience in a short amount of time, paid advertising is a great way to do just that. The most popular methods are:
Promoted social media posts: This method is beneficial when you want to specifically target an audience in a particular region. In this method, you can pay social media platforms to run your ad for a given period of time.
Pay-per click ads: In this method, you are charged a fee every time an audience views your ad and decides to click on it. For example, Google Ads allows you to do so which results in your ad being listed at the forefront of the results page.
Television and radio ads: While this may seem outdated, television and radio ads are still an effective way to advertise your product. This is especially true if you are targeting an older generation. It is however important to take into account that this may be an expensive mode of promotion.
Providing discounts or free products/services can be a great way to attract new customers. This allows them to try out your products and see for themselves if the claims meet their standards. This can easily be implemented in your marketing plan by setting up stalls in populated area or events. People are more likely to engage with your brand if they don’t have to commit to it straight away.
Promoting your business can be expensive, but legal assistance doesn’t have to be. Check out Business Kitz subscription service today to access our full range of legal, commercial and employment documents to begin your business with a solid foundation that ensures compliance. If you are unsure about how to best protect yourself and your future business, our sister company, Legal Kitz can assist you. To arrange a FREE consultation with one of their highly experienced solicitors, click here today, or contact us at email@example.com or 1300 988 954.