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

Why did I choose this resource?

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