6 reasons your advertisers need to invest in promotions – especially in a downturn
Despite being in an economic downturn, now is the perfect time for you to grow your business and increase your relationship with local advertisers. 32% of consumers say once their lockdowns are lifted, they’ll be making a greater effort to support local businesses (Borrell Associates.)
Advertisers are beginning to shift their messaging from we’re open and compliant to messaging that drives in new business. Not only is it important for local businesses to work at keeping their existing customers, but it is critical for them to seek out new customers. Promotions are the perfect way to incentivize these customers (U.S. Small Business Administration.)
So how do you have this conversation with your advertisers? Here are our X takeaways for driving your conversation.
Key Takeaways
Drive Leads
When you talk to a local business owner, remind them that driving in leads for new customers is very important to their business. Ask, “Do you need to replace lost customers?” Running a promotion allows them to reach their target audience and identify people who may be a good fit. Lead-gen questions and an email opt-in on the promotion registration form will drive quality leads.
Retain Existing Customers
While identifying new business is important, local businesses cannot neglect their current customers. Maybe they’ve lost some of their customer base during all of this or they’re struggling with new competition. When participants participate in your promotion, send every entrant a thank-you coupon in a follow-up email. This is a great way to reward your current customers and keep them coming back.
Establish a One-on-One Relationship
Local businesses need a way to let people know about their products and services. When you collect email opt-ins for a sponsor, you provide them with an opportunity to start a conversation. And when you combine the email opt-in with the right promotion, you have a list of interested people they can now reach.
Build Out Demographic Information
Your advertiser isn’t looking for a random list of email addresses. They want a list of quality, qualified people who could be potential clients. Work with your sponsor to understand their ideal prospect, then create a promotion and registration form that fits it. Do they want people in a specific zip code or age group? Are they looking for someone who’s renting or a homeowner?
Create Branding and Community Presence
While leads are generally top of the goal list, sometimes your advertiser may also want an opportunity to keep their business top of mind in the community. Aligning themselves with campaigns such as Hometown Heroes, Athlete of the Week, or Celebrating Graduates are all great ways to keep your advertiser front and center with their audience.
Trust in a Campaign that Works!
With the economy as it is, advertisers are more protective than ever of how they spend their ad dollars. Promotions produce measurable and trackable results. When you know how much they want to invest, the value of a lead, and how many leads your promotion drives, you can prove the ROI of your campaign.
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Julie is the Senior Customer Success Manager at Second Street and a former client in local media. Her best advice for driving the most success with your revenue and audience engagement strategy is to include promotions in every business initiative.