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Marketing Basics: Promotions and Competitions…

Tuesday, April 14th, 2009

And using them the right way to raise your profile

OK…. I have run competitions before. In my newsletter and in the ‘real’ world. And to be honest they don’t always work. But when they do, they can be very powerful for your business. They must be, otherwise why would so many companies, including the ‘big boys of the bottomless marketing budgets” use them? (They may have money to spend but they don’t often waste it!)

So running a promotion or a competition seems like you are just giving stuff away. Wrong. You are using promotions and competitions to gain information about your target audience. And that phrase is key – target audience. The reason why many promotions and competitions don’t work, is because they are aimed at the wrong audience for the business involved, or the offer or prize being supplied just doesn’t interest them.

I know I have talked about your target audience before but this is just another example of why it is key; why it is crucial to know and understand your target audience. If you don’t know who you are selling to, and why, and what, then you’re marketing efforts are going to be sporadically productive at best.

If you don’t know who/what your target audience is, then you need to do some research and thinking about your product or service. If you don’t know who your target audience then you have more thinking to do. If you do have a good idea then well done! You are in the minority probably. But let me be clear it is a target audience. Target, as in pinpoint. Not general, but focused.

A target audience is not: “all small business owners” no matter how much you think it is or want it to be. With approximately 4 million small businesses in the UK you can’t be possibly be targeting them all in the same way. You need to focus down.

Moving on…

(more…)

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