Low Cost Marketing Strategies
Yes, the result is always directly proportional to the effort and resource they invest. Let’s quote an example. You are in the business of selling Omega 3 and 6 supplements. You can organize a contest based on your product’s functions which would help you generate higher sales volume and also the respond rate from your customer. Hold an IQ contest as Omega 3 and 6 are important for development of the brain.
This tells you about how the brain function is enhanced with the help of these products. The cost range can be started from zero to a few hundreds or thousands of dollars. You can cut the cost drastically by holding an IQ contest online. To start with, develop a set of IQ questions which can be sent to existing customers even through email.
Later, these contestants will have the choice to participate through the website or they simply just reply our email. The winners should be rewarded with your products, vouchers or others. This would in turn encourage the customers to spend the given vouchers.
You can choose to stop here. Why don’t we think of going one step further than this?
For every new contestant or potential new customer which is bought in by the existing customers an additional offer of 5 to 10 dollar cash voucher is rewarded. This helps in promoting your company, brand, product and contest to others by encouraging the existing customers. The number of cash vouchers used in a single transaction or with the expiry date the usage of cash vouchers can be controlled. But, we should avoid imposing too much restriction on them. 1 voucher per month or voucher valid up to 30 days are examples for the same This in turn will discourage the customers in searching for new contestants.
The cash voucher offered is a cost to the company is it right? Yes, we agree on that to a certain extent. When we think differently we will look in to it at a different perspective. What would happen if the customer who has the voucher would buy your product or else they would not do so? Think whether this would result in high cost or profit to your company?
If the vouchers are offered wisely this would aid you in making profit and not losses to your company. Eventually, this marketing strategy aids in promoting your products without incurring any high expenditure. The new high quality of prospects list (new contestants) obtained can be followed up later.
This is only one of the examples. Get moving on after to start to devise your plan.
Find more info on marketing strategies and sales strategies.
Processing your request, Please wait....
