1. Roadmap and Budget
You need to figure out how you're going to communicate with your audience and how much revenue you estimate your promotion will generate.
2. What is a Promotion?
Picking a product service + offer + scarcity = Promotion
Three Key Promotional Categories:
- Acquisition
- Activation
- Monetization
3. Step One: Acquisition
This includes areas like free giveaways where contact information is entered to win a prize and lead magnets, an irresistible bribe offering a specific chunk of value.
There is also a program called Woobox where users can enter a contest with a hashtag and once they are entered it gives the company their email address as well (to create an email list).
Goals of Acquisition: Take users from social media to becomes a lead magnet then get email subscribers
4. Step Two: Activation
This includes areas like flash sales, which are a big discount sale companies can offer and member-only specials, which can make subscribers feel special.
Goals of Activation: Move email subscribers to low dollar offer, then to a customer
5. Step Three: Monetization
This includes area like activation, which means offering the new product or core offer and high dollar sales. This is the bread of butter of the format leading into a promotional calendar.
6. Steps to Building Your Promotion
1) Determine Product/Market Fit
2) Choose a Traffic Source
3) Offer a Lead Magnet
4) Offer a Tripwire
5) Offer a Core Product
6) Offer a Profit Maximizer
7) Create a Return Path
If you don't know what a tripwire is, it's where there is a low-cost offer made to a customer that can lead to a larger purchase later on.
6. When and Who...12 Month Plan and Monthly Planning Worksheet
Things to include: month, goals, set projections, revenue goals, monetization strategy
Things to include in monthly planning: month, name of promo, goal of promo, who will receive promo emails, start date, number of emails, projected revenue, back-up promo
7. Plan Your Promotion Content
The content funnel stages are awareness, evaluation and conversion.
- Awareness Content-freely available that entertains, educates or inspires (blog, social media, videos, infographics, photos, podcasts)
- Evaluation Content-incentivized content asking readers for contact information (education resources, downloads, etc)
- Conversion Content-building a relationship with the reader to help them make an informed purchases (demo, free trial, customer story, comparison)
*Bonus Tip!: Have your company write down 100 questions they receive or are most often asked...these can be converted into blog posts!