A promotion consists of you choosing a product or service that you want to focus on with your marketing. You then turn that product into an offer, creating a funnel, a sales pitch, and your hook.
Once that is built out, you direct traffic towards that message. How is that different than what you do every day? Because you’re only going to run this offer for a certain amount of time. THAT is what makes it a promotion.
Promotions are great because they focus your audience’s attention. They create mini-events when you have a reason to focus on some product and your audience has a reason to listen.
The fact that promotions are limited is what creates scarcity! This works for physical products, too—these can be limited by time or by a specific volume of merchandise you allocate for the promotion.
Scarcity is an important activator because it gives your audience a reason they need to purchase or opt-in now. When an offer is time-sensitive, deferring the purchase decision is no longer an option. Individuals can either act now and gain, or wait and miss out. There is no in-between.
The basic equation for a successful promotion is:
Product/Service + Offer + Scarcity = Promotion
We’ll come back to this concept, but first let’s talk about the different forms promotions take.