What Type of Promotion Works Best?
Promotions come in different forms, with different budgets, and can yield very different results. Sometimes it is a good idea to conduct a test promotion before launching a large-scale effort. This can help you to stay within your promotion budget and ensure that your promotion tactics are sound. As a starting point in figuring out what promotion will work best for your business, research common promotion techniques in your industry and review the effectiveness of competitors’ promotions. Examples of common, effective promotions include: • Short-term price reductions such as coupons, rebates or bonus offers • On-pack premiums or cross/companion product promotions, like a free toothbrush with toothpaste • One free month of service for new customers • Free services for referring a new customer, for example a Laundromat offering free wash and dry Analyze the benefits and drawbacks of each promotion type before you launch your promotion. For example, will offering bonus packs or extended d
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