The Purpose Of Promotion For Business?

Definition for promotion: "Generally, promotion is communicating with the public in an attempt to influence them toward buying your products and/or services."

The purpose of promotion can be brand awareness, to communicate about service or product offerings, company awareness, to engage consumers with your brand by offering a discount, etc. There are numerous reasons why a company would use promotion for their business, each respective company will use promotion in the way that best suits their message and needs. Promotions are generally necessary to remain competitive within your industry.

To put this into context, I'll go over an example of when/why a company would use promotion. For instance, let's say you are sponsoring some big event in order to promote your company and you've already invested quite a bit of money in being the sponsor. One great way to use promotion to your advantage would be to have club wristbands or party wristbands printed for the event, and put your website address on them with a coupon code. It's very cheap and effective, and would most likely drive a great deal of traffic back to your website/company and allow your brand to remain top of mind. Some of them may even turn into conversions!