Square Marketing Communication Mix
Square marketing communication mix comprises communication channels to communicate the marketing message to the target customer segment. These channels are print and media advertising, sales promotions, events and experiences, public relations and direct marketing.
Square Print and Media Advertising
Despite being an internet-based financial services platform, Square uses traditional forms of advertising such as TV and radio ads occasionally. The financial services and mobile payments company also uses billboards and posters to communicate its marketing message to the target customer segment.
Social media is the main platform that is extensively used by Square as an effective communication channel with perspective customers. Specifically, the financial services platform uses content marketing to inform about the cases of small businesses that were able to increase their sales using Square card readers and other products and services. These success stories are meant to inspire other small businesses worldwide to try using Square products and services.
Square Sales Promotions
Square uses the following sales promotion techniques.
1. Square Affiliate Program. The program offers various bonuses for the use of different types of products and services by referrals. For example, the payments the company offers USD5 per new sign-up, plus a USD15 bonus when an activation starts taking payments within 45 days of signup. Moreover, there is USD5 per new sign-up, plus a USD233 bonus when an activation processes their first transaction using Square for Retail within 45 days of signup.[1]
2. Point of sale materials. Square produces and sells a wide range of point of sale products such as card readers, stands, terminals, register and wide range of related accessories. The hardware and point of sales materials are designed in simple and eye-catching attractive manners. As of September 2021, Square does not use seasonal sales promotions, money off coupons, competitions, discount vouchers, free gifts and loyalty cards sales promotions techniques.
Square Inc. Report contains a full analysis of Square marketing communication mix and Square marketing strategy in general. The report illustrates the application of the major analytical strategic frameworks in business studies such as SWOT, PESTEL, Porter’s Five Forces, Value Chain analysis, Ansoff Matrix and McKinsey 7S Model on Square. Moreover, the report contains analyses of Square leadership, organizational structure and organizational culture. The report also comprises discussions of Square business strategy, ecosystem and addresses issues of corporate social responsibility.
