Business Promotion defines the strategies used to communicate with the public at large with the sole aim of influencing their thoughts and decisions into showing interest or purchasing your products and services.
While Advertising specifically refers to one method or practice of promotion, Business Promotion is an all-inclusive, broadly used term indicating all available ways and means to promote.
But without largely resting on the technical jargon of the word or phrase, it is understood that the terms Advertising and Business Promotion are used to promote a product, a service or an entire business itself.
What classifies as Business Promotion
Business Promotion is a sustained activity that requires a great deal of practice to achieve perfection; there is no room for error. Every opportunity must be changed into potential revenue earning point and that is something easier said than done.
The two ‘golden rules’ to remember in business promotion are:
- It has to be done consciously. No matter how great the product or service, the concentrated effort should be singular and upfront, no delegation of responsibility will help.
- It is a budgeted activity; nevertheless costs can be carefully scrutinized and exercised to achieve maximized gains.
Some inexpensive means of Business Promotion
- a) Practically every single output generated from the office should be an advertising tool – business stationery like letterheads, envelopes, business cards etc. must contain address, phone, fax, url and anything than can function as an advertisement. In addition, emails, outgoing fax messages, bills, receipts etc. should have tag lines that can connect very visibly to your company or product.
- b) Well written articles or blog posts appearing in magazines, newsletters or publications that your niche market audience reads can channel a flow of business to the company. For example, a website designer company can talk about designs and usability which is very informative; similarly a realtor can write on home design or home improvement to generate interest and create a following. But content has to be specific and solid and interactive so as to invite comments and create a network.
- c) An informative Press Release in a leading publication with wide reach is a sure-shot tool of business promotion. Especially for information on new products, concepts, services and brands, the news has to reach the target audience quickly and easily. Additional information about the company’s achievements like awards won, events hosted and sponsored will acts as impetus to driving traffic to the website.
- d) Spending time on social media is a great way to promote business and extends a one-on-one connectivity and interactivity with large sections of the public.
- e) Buddy Marketing or carrying out promotional activities with complementary business partners is very effective. This way, the audience reach is sure to double while cost is halved allowing better use of expensive promotion methods.
- f) Freebies are excellent business promotion material. Any small, inexpensive handout given with the product or service is a great advertising tool, and instantly connects on a human level. Thoughtful gifts, customer rewards and extra service provide that incentive for people to reach out and connect.