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Sales Promotions: How to Create, Implement & Integrate Campaigns That Really Work

Anant Team Blog

Sales Promotions: How to Create, Implement & Integrate Campaigns That Really Work

Why did I choose this resource?Sales Promotion

I chose this resource to learn about the different types of sales promotions and how they can increase sales in the company.

What did you learn from it?

I learned the difference between value promotions and price promotions, and what advantages they each give to the company.

Key Knowledge

  • Marketing Basics, the “ six C’s”
    Why consumers buy. They add value and shifts purchasing decisions.

    • Cost
    • Convenience
    • Concept
    • Communication
    • Customer relationship
    • Consistency
  • Sales Promotions
    • Aid companies in meeting/exceeding their sales and marketing goals.
      • Stimulate consumers with
        • something for nothing;
        • a lower price;
        • an entertaining experience;
        • a generous premium.
      • Strategic and tactical; concepts are more important than the advertisement
      • Improve companies potential
      • Create and maintain long term relationships with clients
      • Keep you ahead of the competition.
  • Value Promotions
    • Afford clients with an additional benefit; diminishes the focus on price.
      • Example:
  • Price Promotions
    • Reduce product and service cost.
  • Questions to consider when planning a sales promotion.
    • How do you currently position your brand?
    • What is your campaign objective?
    • Which consumers will you target and how do you want to influence their behavior?
    • How will such factors as timing, budget, and logistics affect your promotion?
    • Who do you want to do what?
    • How will customers participate?
  • 3 Step Program Implementation
    • Create a list of ideas with details for a promotion with a clear goal in mind.
    • While keeping budget, timing, logistics, legalities, etc in mind, choose a concept
    • Finish your advertising and marketing materials, fine tune the offer details, create a timeline, and finally, launch the promotion.
      • Make sure to have an evaluation plan.
  • Particular Promotions
    • Free accommodations
    • Holiday vouchers
    • Discount coupons
    • Two-for-one flights
  • Joint Promotions
    • Basic offer
      • Buy one product, receive a sample of another product for free.
    • “Referral coupons”
      • Buy one product, receive a coupon for another product
    • “Phantom Partnerships”
      • Purchase items and offer them free with the purchase of your product or service.
    • “Charity Promotions”
  • Price Offers
    • Seasonal discounts
    • “Multi-buys”
    • “Reduced shelf price”
  • Premium Promotions
    • “On-pack offer”
    • “Free mail-ins”
    • “Self-liquidators”
  • Prize Promotions
    • Competitions
    • “Free draws”
    • “Instant wins”
  • International Promotions

How are you using what you learned?

I am using what I learned to develop ideas for sales promotions in our company.

Key Changes / Key Actions

  • Brainstorm ideas for a value promotion.
  • Launch a value promotion.

Source

  • Name : Sales Promotion
  • Author : Julian Cummins and Roddy Mullin
  • getAbstract.com: Link to Book

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