a successful promotion
Promotions on various products can be an effective incentive that helps to sell products and in turn to customer loyalty.
In order to sell a product, it is important to carry out a good promotion beforehand. Promotion is the communication by the seller to the customer with the aim of convincing him and getting him to purchase the product or service offered. A promotion has three fundamental objectives:
- Present the product to the public
- increase demand
- Differentiate a product or service from the competition
I read a Grass Roots survey some time ago which indicated that: “94% of consumers say that promotions encourage them to decide to buy a product and more than half of those surveyed prefer cash prizes”
I would add to the previous point that once we have managed to attract the consumer, who buys our product motivated by that great promotion, we cannot leave to chance all the operational points that must be carried out later to make it a success:
– The promotion must be of a simple mechanics; we have seen on countless occasions that the mechanics are so complex that the consumer loses the appeal of participating
– The consumer must easily access it; purchase efforts are so high that it makes you desist from participating
– The redemption channels must be all available without any limitation; we cannot forget our entire sales universe, if we limit it we run the risk of losing potential customers
The easier, more agile and simpler the more the promotion will help your brand to achieve your goal “Get more sales and Get new customers”, I don’t know which one I would put first, I leave this to your choice, although if I had to choose I would put the first “Getting new clients” since it will allow us to have an in-depth knowledge of their behavior and their profile.
Promotion is the first big step towards loyalty , the adequacy of the offer to customers and to be able to develop perfectly segmented promotional marketing actions. Loyalty consists of making the consumer become a regular customer, loyal to our brand, service or product.
What is the promotion of a product based on?
Product promotion consists of communicating, informing, publicizing or reminding people of the existence and benefits of a product or service. The product is disclosed, including its characteristics, attributes and benefits to consumers, to try to persuade, stimulate, motivate or induce their purchase, acquisition, consumption or use.
How to plan the promotion of a product?
A sales strategy must go hand in hand with a marketing strategy. The objective of a marketing strategy is to promote a product, increase its sales, attract the attention of customers and improve its brand image. When planning the promotion of a product, it is necessary to take into account:
- The moment . It is advisable to promote a product when you want to sell it the most, in order to present a more attractive offer than the competition. The promotion of a product is done for strategic reasons and to achieve specific objectives: the launch of a new product, the introduction of a new channel, the conquest of a segment of the public, etc.
- Variety and creativity . It is recommended to carry out several types of promotion in order not to tire the public, not to be too repetitive. For this, various types of promotions are used throughout the year or a predetermined period of time.
- Achievable goals . Never set goals that the consumer cannot achieve. It should be tried that the waiting time in the reception of the product is as short as possible.
- Proper segmentation . It is important to know who the target audience is. For this, the mechanics of the promotion such as gifts must be consistent with the brand’s target audience. If the company has a profile of young consumers, we can resort to promotional parties or contests. If it is more sensitive to the price factor, we will resort to discounts, more product for the same price, etc.
- It is not advisable to abuse or exaggerate . It may be the case that the consumer acquires the product because of the incentive that it has incorporated and not because of its own qualities, so that, when that disappears, they will abandon their purchase.
How to develop a promotion to be successful?
There are some fundamental keys for a successful promotion:
- Planning . For a promotion to be successful, it is important to be clear about the objective of the promotion and to know what its measurement parameters will be.
- Target consumer . Within a promotion, the figure of the consumer is a key point, for this reason it is necessary to have a broad knowledge of consumption habits, their interests and the motivators that drive them to buy.
- Execution . The perfect execution is the sum of an efficient communication of the strategy towards the field personnel and a correct measurement of the implementation of the initiatives through clear and consistent KPI’s. A perfect execution means an increase in sales, for which it is best to have an execution audit at the point of sale.
How do promotions influence companies?
A good promotion can increase the sales of a company between 5 and 15%. Companies use promotions as a sales strategy. To achieve this, both the Marketing and Sales departments work together so that everything is perfectly aligned, especially when the objective is common.
Objectives of making promotions for products:
- The increase in sales. With a good promotion, sales for a company are immediate.
- Promote the launch of a new product. A campaign with good segmentation is essential to convert the novelty of your company into a necessity for your customers.