We are all familiar to why we actually invest money and time into sales promotions, but we are not all aware of the details, what it takes to effectively design and implement a successful sales promotion. Just to remind you, a sales promotion is a tactic used to increase the value of the product, and to ease the decision making of consumers, influencing them to choose a particular brand over another. A sales promotion can either be more of a price promotion to lower cost or it can heighten the product benefit, offering something additional! So how exactly, do you design a sales promotion and more importantly manage it!
What are the Objectives?
As with everything, you must make objectives! You’d be amazed how many people forget this and lose sight of why they are actually doing it, and that doesn’t just apply to sales promotions. To succeed in your sales promotion, you should create clearly written and concise objectives which lead your business in the right direction. Don’t make them overly complicated or elaborate, as you will inevitably lose aim. Ask yourself a few questions, why am I running this promotion? What do we want from the sales promotion? What return do we desire? Can we justify the cost? Much of the time a sales promotion is designed to create brand awareness or achieve higher market share, so always ensure you stick to the plan.
What’s the Mechanic?
This is the format of your sales promotion. For example, coupon, rebate, price reduction, loyalty program, competition, collectors, text ins etc. You then need to decide your audience. Is your sales promotion for a particular region or worldwide? This will influence cost, communication and eventually redemption rate. Another question to ask yourself is when and where can customers redeem the offer? For example, do they fill out a form? Take the coupon to the point of purchase? The route of entry is essential to the level of engagement in your sales promotion.
How long will it last?
As well as the size and scope of the promotion, you must allow a time frame and deadline. You must explain how customers can win to prevent any confusion, and how the prize is distributed. Ensure those in handling and fulfilment are available near the deadline, as it is frequent that redemptions spike closer to the deadline.
Keep Staff Motivated
When carrying out your promotion it may get tough for your staff, especially if the redemptions are high and people must stay late to pack. Keep them motivated with incentives and gratitude! Staff should also be motivated to communicate the promotion to customers and be on hand to inform them how to get involved.
In order to keep a promotion moving you need to keep people informed. Depending on the size of your firm, you will need to select channels to keep them in the know and reminded. For companies with lesser budgets, print promotions, and social media may be a great way to keep people interested!
For more information on how to run a successful promotion, please, take a look at this post