- Market Area
What is the potential of your current market area? - New Sales Opportunities
Is there a possibility to attack a new market? - Additional Promotional Opportunities
Can your products or services be packaged differently in your marketing plan?
Using the information gathered in the review process we spoke about last week, new areas of opportunity for sales most often come to light. For example, a new sales opportunity might be to focus more attention on a particular type of customer by offering a value added promotion.
A “value added promotion” is simply the process of offering an additional service to the main promotion that increases the perceived value of the promotion. These types of promotions are widely used in the retail market, Buy One - Get One, free tire rotation with tire purchase, etc. They also work very well in the B2B markets if the promotions are creative and well thought-out.
Cross-promoting with other companies is becoming a very successful marketing trend. Taking the added value concept and having the added value element offer from a partner company. Example: $10 oil change at Quick Lube with tire purchase at ABC Tire Store, or $5 lifetime car wash discount with new car purchase. The possibilities are endless.
Creative cross-promotion opportunities and added value promotions give your services a much higher perceived value by offering more to your customers for less! Researching additional sales opportunities will increase your companies sales 100% of the time.
