Which 3 methods of promotion are more ineffective in sales

in Steem Schools4 days ago
Promotion is key to gaining new customers and conveying important information about what we do and offer.

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Millionaires, like anyone, vary in their priorities, but studies and surveys often point to three key things they tend to value most:

Time Freedom: Wealth often buys the ability to control one’s schedule. Millionaires value the flexibility to pursue passions, spend time with family, or focus on personal growth over being tied to rigid work demands.

Financial Security: Beyond just accumulating wealth, maintaining it and ensuring long-term stability is critical. This includes investments, diversified portfolios, and planning for future generations.

Impact and Legacy: Many millionaires prioritise making a difference, whether through philanthropy, business innovation, or mentorship. Building a lasting legacy—be it through charity or influence—often ranks high.

The effectiveness of promotional methods in sales depends on context, like target audience, industry, and product, but three methods often considered less effective in modern sales environments are:

Cold Calling: Unsolicited phone calls often yield low conversion rates due to consumer distrust and annoyance. Studies suggest only 1-3% of cold calls result in sales, with many recipients preferring personalised digital outreach.

Mass Email Blasts (Non-Targeted): Generic, unsegmented email campaigns have open rates as low as 10-20% and click-through rates under 2%, per industry data. Without personalisation or targeting, they’re often ignored or marked as spam.

Traditional Print Advertising (e.g., Flyers, Newspaper Ads): With declining readership and limited measurability, print ads often have lower ROI compared to digital channels. For instance, newspaper ad response rates can be below 1%, especially for younger demographics.

These methods struggle because they lack personalisation, interactivity, or alignment with modern consumer behaviour, which favours targeted, data-driven approaches like social media ads or content marketing.

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Original post by @dobartim
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