-: Hello and welcome to the fourth P, promotion.
So we're gonna first talk about
a framework of paid, owned, and earned.
We're gonna talk about the aims, the three As.
And then we're gonna talk about a few types:
public relations, advertising,
sales promotion, and social media.
And we're gonna learn about SMART objectives.
So the book by Crane defines promotion
as market-initiated communication
directed to target customers.
So it is something that you as a firm are saying
directly to your current and potential customers.
So one framework is to think about it as three types:
paid, owned, and earned.
So paid are things that you pay for,
buying an advertisement,
things where you pay money
and somebody promotes you.
Owned are things that you sort of have yourself,
your websites, signs, things like that.
And then earned is things that you can't buy or own,
but things that, by your own success,
winning awards, brand recognition,
favorable views, word of mouth,
recommendations, things like that.
So here's a graphic that has more examples of these.
Promotion has one of three goals.
It might be to make folks aware of you, brand awareness.
It might be to build favorable attitudes
so that they like you.
And then the final A is action,
to have them take a concrete action,
such as buying your product or service.
Another way of thinking about it
is know, like, and trust.
And this is also very much tied to the last one.
So you first, here at the top of the funnel,
you want a lot of people to know that you exist,
to be aware.
You want the next one to sort of like you,
to have favorable attitudes.
And then last is you want 'em to trust you
to keep coming back, that you become their go-to
for that good or service.
So we're gonna talk about each of these four main types.
First is public relations.
And that is where your goal
is to create a good image of yourself.
That it's not really tied to by my stuff.
It's tied to know that I exist
and have a favorable attitude.
It's to build goodwill
and a positive image.
So things like sponsoring
a little league baseball team is an example.
The one you may be most familiar with is advertising,
where you pay someone
to make a message about your good and service.
It can reach a lot of people,
it can get a lot of attention.
It does cost money.
But more and more with the internet,
it's able to really tightly target who is your likely.
So think back to your target and it can find them
and send it right to them extremely well.
And next is sales promotion,
where it's like really giving a good deal.
So it's things like knocking off a bunch of a price,
offering a discount for coupons or rebates.
Buy one, get one free.
And it's oftentimes that you advertise this,
and this is a way to get someone to buy it
for the first time or to change the brands.
Note that there's a danger here.
It can be overused.
Folks might wait until something goes on sale
before they buy it.
If it's always at a low price, they may under value it.
And many times, if something is offered at a discount,
it's you that pays,
that you don't get as much money per item.
So it's you that sort of has to make up the difference.
Now, we're gonna talk about the wild
and wacky world of social media.
So this can have many benefits.
It can pick a buzz.
Fans can talk about it and say how much they like it.
And it can facilitate online conversation.
We can build loyalty and trust
and establish your expertise.
Note that you want that it's at least as much stethoscope
as megaphone, that you want to hear
what other folks are saying,
but rather than blathering at them all the time,
that you want them to contribute
instead of you controlling everything.
And again, this is a good way to establish trust
and also learn about what are people saying and thinking,
expressing about your good or service or organization.
There's lots and lots of tools.
I'm sure I missed a lot, but here's a list.
That's the end of part one.
Please watch part two now.
Thank you.