Business Promotion Strategies
The best strategy that RJ’s can use, which will promote customer loyalty as well as the grand opening of the London store, is offering customer recruitment awards. The strategy will reward those customers that will help bring in new clients to the business. RJ’s should offer significant and attractive discounts to the brand ambassadors who recommend its products to families and friends. Branding campaigns are another promotional tool that would be effective in the London online and in-store grand opening marketing campaigns. The strategy would involve rewarding customers who display the company brand in the new market with gifts such as discounts.
The goal of using these strategies is to utilize existing customers to help efficiently acquire more market share without having to invest heavily in advertisements. Customer recruitment awards would be a great way to broaden the consumer base (Magatef & Tomalieh, 2015). Existing consumers would funnel new ones from their friends and families. Introducing the company brand in the London market using branding campaigns with existing and new customers would give them the initiative to market the brand.
Personal selling can be used by the company to announce the discounts that it has install for potential customers. In the new market, in the in-store opening, the personal selling team will focus on pushing the company products and initiate relationships and engage with new customers. Personal selling could also be an effective way of sourcing marketing information from the customers and offers a more significant persuasive impact. Building on the grand opening of the London location would involve using celebrity influence on potential customers. The use of prominent people in the new market would be efficient in attracting new customers and building a reliable brand name. Thus, increasing awareness of the company’s products.
The goal of using these strategies is to utilize existing customers to help efficiently acquire more market share without having to invest heavily in advertisements. Customer recruitment awards would be a great way to broaden the consumer base (Magatef & Tomalieh, 2015). Existing consumers would funnel new ones from their friends and families. Introducing the company brand in the London market using branding campaigns with existing and new customers would give them the initiative to market the brand.
Personal selling can be used by the company to announce the discounts that it has install for potential customers. In the new market, in the in-store opening, the personal selling team will focus on pushing the company products and initiate relationships and engage with new customers. Personal selling could also be an effective way of sourcing marketing information from the customers and offers a more significant persuasive impact. Building on the grand opening of the London location would involve using celebrity influence on potential customers. The use of prominent people in the new market would be efficient in attracting new customers and building a reliable brand name. Thus, increasing awareness of the company’s products.
References
Magatef, S.G. & Tomalieh, E.F. (2015). “The Impact of Customer Loyalty Programs on Customer Retention.” International Journal of Business and Social Science, Vol. 6, No. 8(1).