PROMOTIONAL OPPORTUNITIES
Does Promotion End Once the Product is Sold? Absolutely Not.
By James F. Riordan
PART FOUR
Your promotional opportunities do not end with the sale of the product. The wise marketer includes one or all of the following items in the package, with the product., to be sure the maximum promotional opportunities have been utilized.
* A warranty registration card* One or more decals
* Discount coupons on other products
* A small catalog/brochure describing your other products
* A request card to add the buyer's name to your mailing list for future products
* A full line catalog order form
Let's take a look at each of these individually.
1. Warranty Card-- The warranty registration card serves several purposes:* It confirms the date of purchase of the product* It confirms the place of purchase and the purchase price
* It reveals character traits of the purchaser
* It reveals information about the purchasing habits of your target audience
* It reveals how the end user plans to use the product
* It reveals other products your target audience may want to buy from you
The warranty card should ask as many questions about the customer as you think they will answer, including their age, sex, occupation, income range, reasons for choosing your product (listed in order of importance to the customer), how they heard about your product, and any comments they may have on the features of the product.
The card will also reveal how your advertising is working, which will help you adjust your "marketing mix." It will also provide the price the customer paid for the product, which will let you know how much your dealers are retailing the product for. This is useful to spot the "gougers" who are charging too much and the "whores" who are selling the product at slightly over cost.
2. Decals--The decals contribute to brand name recognition. I recently purchased a high-performance exhaust system for one of my off-road vehicles, and the manufacturer included four decals in the package. In this type of market, this is good business. In no time at all, my son had distributed the decals to three of his buddies, and the manufacturer now has four different people advertising his products and his logo on their machines. The manufacturer's "cost-per exposure" is very low, since decals are cheap and they'll be seen often by other prospective customers.
3. Discount Coupons--These encourage buyers of your products to purchase other products in your line, or to purchase your product in larger volume.
4. Small Catalog or Brochure--Using small catalogs lets the buyer view your other products, which may cause the buyer to seek out these products at a later date.
5. Request Card--The request card is a simple postcard which has a little "box" that can be checked and and simple phrase like "YES...I would like to know about future products you produce that may interest me. Please add me to your mailing list."
Then, include a space for their name and address, and include your address for mailing the card. A preferred option is to provide postage paid "business reply cards" with your address already filled in so that all the buyer has to do is fill in their name and drop it in the mail box. You can make arrangements to purchase these reply cards at the post office, and you're charged only for the ones that are mailed back to you. This is a very cost-effective means of building a mailing list of "preferred customers," who have already purchased your products and are likely to purchase more.
6. Full Line Catalog Order Form--This is useful when you have a catalog that is heavy or expensive to produce, and you want to charge the customer for it. In this case, you simply enclose the order form with a "box" to check, similar to the one mentioned above, and a phrase such as "Yes please find my $3 (or whatever you are charging) to cover postage and handling, etc." Ideally, these forms should be accompanied by a postage-paid business reply envelope.
Last but not least, it's also good to send out a post-purchase thank you card to your customer. The card can be as simple as a postcard stating, "Thanks for thinking of us, we the widget factory appreciate your business. We hope you're satisfied and that you'll think of us again when you need your next widget." If such an approach is applicable to your product, it's a nice touch.
The above article was taken from James F. Riordan's classic book, HOW TO EVALUATE THE POTENTIAL FOR SUCCESS OF A NEW PRODUCT OR TECHNOLOGY. Riordan's highly-acclaimed, 36-point system is a valuable tool for inventors, product evaluators or anyone interested in the invention process. Each section is followed by a comprehensive questionnaire that can be used to evaluate your product.
The highly-recommended book can be ordered through the Dream Merchant, 2309 Torrance Blvd., Suite 104, Torrance, CA 90501. The phone number is (310) 328-1925.
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