B2B Marketing Promotions

Music promotions campaigns are becoming a marketing standard, thanks to smart phones and inexpensive broadband. Many people don’t bother with their radio or CDs anymore; they’re going digital, listening to their iPhones and Androids, plugging in their iPods to work out, or even listening to Internet radio stations on their laptops.

The most common approach to music promotions campaign is to use the typical mainstream music. But in some cases, you may find that independent music will work better for your music promotions campaign instead.

Rather than pay licensing fees to offer specific artists, or creating a generic campaign that offers iTunes money, work with local and indie bands and offer their music instead.

If you’re trying to reach a college age audience in certain cities, you can appeal to them by offering cuts from their favorite local bands. Not only are you helping promote your own brand by affiliating yourself with popular bands, but you have new partners in cross-promotion as well. Some of these bands may be willing to help promote your music promotions campaign themselves. After all, the more fans they can drive to your site, the more people they can expose to their own music as well.

Other indie music promotions ideas can include giving away tickets to local shows. Not only can you offer a sample song with your music promotion, but you could even create a loyalty program along the lines of “buy 20 cones, and get a ticket to the next Tripping Daisies show at the Dew Drop Inn.”

You can help sponsor local shows. Not only will your name be announced during the show, you can also attend the show and recruit customers there. Think about what the audience would really be into, and offer that as music promotions incentives: “Post a photo of you wearing our t-shirt to your Facebook page, and you could win free widgets for you and 4 friends.”

Create a video campaign. Encourage people to take videos of their favorite bands (at your sponsored shows, of course), and upload them to YouTube, then share them on Facebook and Twitter. In each message, the fans will need to include that it’s part of YOUR promotion, which will not only bring in viewers to their movies, but will reinforce your name. As a result, your customers will be doing your marketing for you — thousands of dollars of marketing value, all for the cost of partnering with a few favorite local indie bands.

By working with indie musicians and bands, you can not only localize your music promotions efforts, you can get some additional support from the bands you’re partnering with.

Digital promotions provide unique customer loyalty programs. This digital promotions powerhouse merges digital music and virtual promotions content, with entertainment licensing, and proprietary promotional risk coverage models, to deliver turnkey, fixed cost solutions for the promotional market.

Implementing promotional marketing strategies for small businesses is one of the biggest hurdles most small business owners face in their business marketing.

The Internet is rife with all kinds of promotional marketing strategies and ideas: Write a company blog. Start a company Facebook fan page. Engage people on Twitter.

But actually implementing the promotional marketing tactics is tough for small business owners. “I’m already busy enough, and now I have to do more?”

We feel your pain. We’re in small business as well, so we’re constantly dealing with the same struggles. If you’re a single person operation, or a small partnership with big aspirations, you’re wearing a lot of hats. You’re in charge of sales and marketing, and then fulfilling whatever you sold. You manage the billing, accounts payable, and taxes. You make sure the office is running smoothly, and that you maintain your business network. And now you’re supposed to try some new promotional marketing strategies.

But don’t worry, we’re not asking for much. In fact, we may make your life easier. Here are a few ideas you can use to implement your promotional marketing strategies with a minimal amount of pain:

Track the performance of all your promotional marketing efforts.

This one is crucial. You need to know what’s working for you and what’s not. The mistake many small businesses make is they don’t keep track of the ROI of their promotional marketing. They’ll run Yellow Pages listings, newspaper ads, radio spots, and dabble in social media. But they don’t know what works and what doesn’t.

Do things like sticking unique discount codes on your promotional marketing campaigns. Use special phone numbers in your Yellow Pages listings. Put analytics tracking on your websites. Track the sources of your leads, and see which campaigns result in traffic to your location and your website.

Then count up all of that traffic, and see which leads turned into sales. Total up the sales from each promotional marketing campaign, and then subtract the money you spent on that campaign. The amount remaining is your ROI.

Drop the promotional marketing tactics that don’t work.

This part is easy. If the money you spent is bigger than the money you made, you lost money. If you made more than you spent, you have a positive ROI, and that promotional marketing effort was a success.

Drop all the campaigns that lost you money, including the ones you thought were doing you some good. (Note: this does not include youth team sponsorships. There are some things, like goodwill in the community, that you just don’t mess with!) Pour that reclaimed money back into the campaigns that worked the best. Or if they all made you money, drop the lowest performing ones.

Social media promotional marketing in minutes a day.

When you try something new, like blogging, Facebook, or Twitter, you shouldn’t jump into it with both feet, and spend hours a day on it. You’ll run out of time to do other things, and when you go to play catch-up, everything will be too overwhelming, and you’ll quit. Then, you’ll say it was a complete failure, when in actuality, you haven’t touched that promotional marketing tool in nine months.

Instead, just pace yourself. Work on it a little bit each day. If you’re blogging, just write one 300 word blog post per week. It should take you no more than an hour, and can take less time per day if you break it up. If you’re using Twitter, just spend 30 minutes a day on it, 15 minutes in the morning, 15 minutes in the afternoon. Eventually you’ll reach a point that you’re so good at it, you’ll find that you’re actually spending 20 minutes a day in 60 second intervals, throughout the day, and wondering if you’re doing too much, rather than not enough.

Promotional marketing for small business is going to be what keeps you in business, but only if you actually try out some of the tactics you read about. Don’t make the mistake of trying something for two weeks and then quitting when you don’t see any results. It takes time, patience, and some work. But if you can make the time to do these tactics, whatever ones you’ll choose, you’ll be rewarded.

Using traditional promotions to reach Generation Y doesn’t work.

Let’s just get that out of the way. We’re normally not supposed to start articles like this on a down note, but you need to know what doesn’t work before we can really talk about what does.

Generation Y — those born between 1977 and 1994 — don’t respond to regular promotions. They don’t watch TV, they don’t read billboards, they don’t do direct mail. But they’re such an important target to marketers, that most marketers are looking for any kind of promotions to reach Gen Y.

So why Y?

Because they’re a consumer power that actually outnumber the Baby Boomers. There are 82 million Gen Yers, give or take a few, and only 78 million Boomers. Generation Y are 26% of the population, and their spending power is more than $200 billion, plus they influence another $300 – $400 billion. According to some reports, Gen Yers influence over 50% of their family’s car choices.

Tantalizing, huh? But if you can’t reach them with traditional promotions, how do you do it?

That’s where online and digital promotions become important. Generation Y is online. That’s where they grew up, that’s where they get their information. When asked where they get their news, most Gen Yers said “Yahoo.” They watch YouTube videos on their phones. They communicate through texts, and use Facebook.

In short, Generation Y wants you to communicate with them, not market to them. So what are some promotions ideas you can use?

First, you need to go where they are. Before you start any sort of Gen Y promotions campaign, get to know them. Figure out who your target audience is, and where they like to hang out, what they like to do, where they get their entertainment.

Vans Shoes, makers of the famous skateboard shoes, built skateboard parks in California and Florida. They sponsor a skateboard team. When their customers need to buy new skateboard shoes, they buy the ones they see at the skate parks, or on the shirts of the team from the skate competition.

Tampax sponsors a social network for young girls, without blatantly marketing to them. They place their logo discreetly on the network, while young girls connect with each other and discuss whatever young girls discuss. The logo just sits there. Then, when it’s time to go shopping for feminine products with their moms, they choose the product they see on their network.

Brands like Mountain Dew, Nokia, Coca-Cola, and Chrysler are paying video game developers for product placement promotions inside video games. Tony Hawk’s Ride, EA’s NBA “2K10,” and Need for Speed: Shift are just a few of the games that include ads. Whether it’s billboards, vending machines, or traditional sports advertising venues (like sponsor signs inside an arena), video game promotions are an excellent way to reach Gen Yers. Remember, Gen Y influences more than half of their family’s car purchases, so putting car ads in video games makes great promotions sense.

Text clubs are another form of digital promotions. Since most Gen Yers are communicating with each other via text, they’re a great way for local businesses like restaurants and clubs to reach Generation Y. Text clubs are opt-in marketing efforts. A restaurant can use text clubs to advertise hidden specials — “free appetizers with dinner, tonight only” — or a club can send out sneak previews about bands or drink specials.

When you’re creating your B2C marketing campaign, make sure you give digital promotions a good, hard look in order to reach the elusive Generation Y. With their spending power and large population, it’s important to connect with them now, so as they grow older and their spending power increases, you have earned their brand loyalty and top-of-mind awareness.

Promotional risk coverage eliminates the budget uncertainty associated with offering large prizes, attractive coupons, and generous rebates and premiums to your market. It gives you an opportunity to launch exciting marketing campaigns through which you offer high-value promotions that would otherwise lie beyond your budget. Such promotions attract attention. They excite people and generate an enormous response. As a result, you’ll enjoy a higher volume of in-store and online traffic, a surge in customer registrations, and a growth in sales.

As the economy continues to struggle, it is more important than ever that you stretch your marketing budget. Moreover, competition is increasing within every space. You need to have a way to differentiate your brand and products to an audience that is bombarded with promotional offers. Promotional risk coverage helps you to design exciting contests and games whereby consumers have a chance to win bigger and more compelling prizes. And you’ll be able to do so at a fraction of the prizes’ value.

Promotional Risk Coverage Protects You From Budget Overruns

Suppose you have a marketing budget of $15,000. You want to design a promotional contest that gives your customers the chance to win a $500,000 prize. The prize value is obviously much larger than your budget; it seems out of reach. Promotional risk coverage makes this type of contest possible.

The risk is placed with an insurance company. To outsource the risk, you would pay a small fixed fee. If a contestant wins the $500,000 prize, the promotional risk coverage takes effect and the insurance company steps in to cover the difference.

This same risk mitigation strategy can be easily integrated with your coupon programs, rebate offers, and high-value premiums. For example, suppose you want to launch a coupon program that carries a redemption value of $750,000 on a popular brand of deodorant. With a $15,000 budget, this may seem all but impossible. Promotional risk coverage makes this type of high-impact promotion possible by removing the risk of a larger-than-expected redemption rate.

When you notice your competitors offering staggering chance-to-win prizes of $1 million, it is not because they have a $1 million marketing budget. Chances are, their advertising budget is limited. They are able to design these exciting marketing programs because they are using promotional risk coverage to extend their impact. You can take advantage of the same opportunity.

Advantages Of Promotional Risk Coverage

The obvious advantage of promotional risk coverage is that it amplifies the impact of your marketing budget. It stretches every dollar. In reality, the benefits extend much further.

First, large prizes, coupons, and premium offers attract attention. They generate excitement and encourage consumers to participate. That gives you a chance to penetrate new markets, establish a presence, and improve brand awareness.

Second, by designing high-impact programs, you’ll quickly build a customer database that you can mine for future marketing campaigns.

Third, programs that leverage promotional risk coverage to offer massive chance-to-win prizes inevitably increase sales. This is due to the exposure you’ll enjoy as your customers get excited about the prizes.

Creative Marketing Campaigns With Promotional Risk Coverage

A lot of companies use promotional risk coverage to launch contests, games, and marketing programs at a fraction of the prize or redemption value. With a little creativity, you can design promotions that leverage this risk mitigation strategy even further.

For example, suppose you would like to launch a promotion that awards a $25,000 guaranteed prize. Promotional risk coverage will not cover guaranteed prizes, but it can eliminate the budget uncertainty of chance-to-win prizes, coupons, and high-value premiums. Instead of dedicating your budget to a $25,000 guaranteed prize, why not design a promotion that blends multiple types of promos? For instance, offer a $5,000 guaranteed prize, a $100,000 chance-to-win prize, and a $250,000 coupon program. Promotional risk coverage gives you the flexibility to design this type of creative marketing program.

Brand Differentiation With Promotional Risk Coverage

Differentiating your brand and products will always represent a major competitive advantage for your company. The challenge is using a strategy that excites your customers while keeping a tight rein on your advertising budget. Promotional risk coverage lets you offer high-value prizes, coupons, premiums, and rebates without concern for going over budget.

Would you like to generate excitement in your market by offering consumers a $500,000 chance-to-win prize? You can do so at a fraction of the prize value. Want to launch a $250,000 coupon program to stimulate a response and attract new customers? Doing so is easy at a small percentage of the program’s redemption value.

Invest the time to explore how promotional risk coverage can help you engage your audience, excite your market, and catapult your sales.

–Cyndi Walker, Promotional Currency

Promotional incentives are a powerful marketing lever that brand advertisers can use to engage and excite consumers. They play a key role in launching new products, lifting sales of existing products, and cultivating customer loyalty. From the smallest “mom and pop” retail stores to the largest brands in the world, promotional incentives encourage people to experience products they might otherwise ignore.

Creative Ways To Leverage Promotional Incentives

Giving away free items is one of the most effective ways to stimulate a response from your target market. Nothing excites consumers more than the chance to receive something with a high perceived value for free. There are a variety of ways in which you can use free promotional incentives to motivate your audience to take action.

You can give your customers something for free in exchange for trying a new product or service. For example, Starbucks recently launched their Via brand of instant coffee and used promotional incentives to spearhead the effort. They organized a Via Taste Challenge to entice customers to try their instant brew. Customers in the Los Angeles area were asked to order a cup of Via. In return, they received a coupon that could be redeemed for any cup of coffee in the future.

You can also use promotional incentives to create a surge in sales volume around your brand. For example, Estée Lauder launched a promotion in October 2009 called “Your Beauty. Your Style. Your Profile.” They invited women to visit participating counters and receive a free makeover and photo. The photos were emailed to women so they could be uploaded easily to dating and social networking sites. The Estée Lauder logo was in the background of each photo, strengthening their brand.

Using Promotional Incentives To Collect Customer Information

In the Estée Lauder example, the promotional incentives were emailed to women who received makeovers. That means in order to receive their digital photo, women had to provide a working email address. This mechanism helped Estée Lauder to create a database of customers to whom they could market their products in the future. For example, they can email these customers a targeted holiday promotion focusing on the products that were used during the makeovers.

Mobile promotions such as music download promotions can offer this same advantage. When consumers visit your customized landing page to download your promotional incentives (e.g. free music downloads), you can require them to provide their contact information. In doing so, you’ll build a database of customers for future marketing campaigns.

The Advantage Of Delivering Promotional Incentives Online

When your promotional incentives are delivered online, your expenses are limited to whatever it costs to fulfill redemption. For example, suppose you’re offering free music downloads to people who spend $70 at a certain clothing store. Provide a website address and promo code on their purchase receipt that directs them to your download site. They can redeem your promotional incentives online, which helps to minimize your costs while exposing customers to your brand and products.

Or, suppose you want to deliver a “buy three and get one free” promotion to customers’ mobile devices. The cost of delivery is practically zero. The same is true for launching instant win games, skins promotions, offering free ringtones, and other digital promotional incentives. While the cost is low compared to traditional advertising channels, the impact on your audience is high.

Why Promotional Incentives Are Effective

Brand sponsors realized long ago that promotional incentives were a potent trigger for stimulating a response from their market. Each year, billions of dollars are spent to launch promotions that improve brand awareness, drive traffic and sales, and strengthen customer loyalty.

The reason promotional incentives are so effective is because people always enjoy the chance to receive free products they consider valuable. Whether the incentive is a free tank of gas, limited access to an online fee-based service, or free song downloads, consumers are happy to participate. In some cases, they’ll increase their purchase order or buy new products in order to take advantage of a promotion. In other cases, they’ll willingly exchange their contact information to receive your promotional incentives.

Your marketing campaigns are ultimately designed to sell your products. The challenge is to motivate your audience to buy them. Digital promotional incentives will excite your market, educate them about your products, and encourage their loyalty to your brand. And they’ll do so at a lower cost than using other advertising channels. Now is the time to explore how promotional incentives can drive traffic and increase sales for your company.

Promotional Currency is THE leading digital promotions firm, merging digital technology, artist licensing and promotional risk coverage to deliver turnkey, fixed-cost solutions for the promotional marketplace.  Promotional incentives such as music download promotions, ringtone promotions, mobile promotion, skins promotions and online instant win games and sweepstakes are powerful, multi-pronged promotional marketing tools build customer loyalty and drive sales.

–Cynthia Walker

Entertain your consumers with promotional incentives to differentiate your brand and boost sales through increased brand interest and customer loyalty.