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What is Promotional Marketing and What makes it important?

BOGO, or up to 50% off on select merchandise - we love a deal that says this and often throngs to a website or a store to browse through the products/services under promotional offers from time to time. While it's an excellent opportunity for buyers to stock up on outcomes during a promotional sale, it's equally fetching for companies. In this post, we delve into the concepts that circle around promotional marketing, why giving your customers a good deal ends up being profitable for you, and the right ways to do it - through tried and tested methods from successful brands.

A week before Christmas last year, a famous illustrator based in New York was bombarded with calls from various clients asking for commissioned work to be done, themed around the holidays. While the illustrator was busy with previously assigned work, most of these potential clients were declined. This is a classic example of planning gone wrong from the client’s side. The glitch could have easily been avoided with some foresight and essential content planning. A useful marketing tool that helps you do just that is a content planner. Much like a regular planner that provides insight into your upcoming activities, content planners give your marketing team a much-needed blueprint to work with. There are many reasons why content planners as a tool are highly useful for your brand’s image to stay relevant.

Let’s say you have a startup or a small business with a brilliant product or service.  Effectively marketing the product/service is the only way one can go about ensuring a loyal base of customers. At this point, it is imperative to have a budget for marketing, in other words, an amount of money that is earmarked for marketing. This budget can be utilized towards paid advertising, generating web/social media content, social media promotions and more. Among the working costs of a company, the marketing budget accounts for about 11% on average, according to WebStrategies, Inc 

This mindmap has my notes from June 2018, Cleveland, Dan Kennedy private event called 'Marketing to Affluent'. A bonus event on 'Price stratgy 2.0' was on Day 3. I have notes on Price Strategy on this map also. Click here to view the Mind Map.