When it comes to promoting your product there are many strategies that you can put into place to get your product in front of your customers. There are two main strategies, push and pull, that will help you sell your product. Depending on the infrastructure and type of small business you own, each strategy has its benefits.
What is Push Promotion Strategy?
A push promotional strategy, is a marketing strategy that sees companies take its products to its consumers. The goal of this strategy is to get the product directly in front of the customers, in the form of trade shows and point of sale displays. These are the most common push promotion strategies used today:
- Direct selling to customers in showrooms
- Point of Sale (POS) displays
- Trade show promotions
- Package or display design
Advantages of Push Marketing Strategy
There are many advantages to using a push marketing strategy including:
- The ability to establish a sales channel
- Create product exposure, demand, and consumer awareness about a product
- Able to forecast and predict demand
What is a Pull Promotional Strategy?
A pull promotional strategy, also called a pull marketing strategy, is the opposite of a push strategy. Instead of directly attempting to get products in front of customers, a pull strategy aims to get the customers to come to the product (hence the term “pull”).
A pull strategy is all about getting the customer to come to you. There are six widely used pull marketing strategies employed today:
- Advertising and mass media production
- Word-of-mouth referrals
- Customer relationship management
- Sales promotions and discounts
- Social media coverage
- Email marketing
Pull marketing strategies have gained momentum in the mobile-based world. With geofencing, geotargeting, and similar technologies, pull strategies are becoming increasingly easier and more relevant.
Advantages of Pull Marketing Strategy
There are many advantages of using a pull marketing strategy, including:
- Establishing direct contact with your customers
- Building consumer loyalty
- Stronger bargaining power with retailers or distributers
- No pressure to conduct outbound marketing
- Ability to test a product’s acceptance in the market and gain feedback on the product
Whichever promotional strategy you choose, it is important to use a strategy that works with your small business goals. Keep organized and thrive with QuickBooks Online. Keep an eye on your cash flow with up-to-date financial reports, track your expenses, and mange your inventory all from one app.