Promotion Planning in 7 Simple Steps
A promotional plan is key marketing tool for launching a new product or service and also for expanding into new markets. When planning a promotional campaign, bear in mind that a successful campaign achieves all of the following outcomes:
- Your promotional message reaches your target audience.
- Your message is understood by your audience.
- Your message stimulates recipients to take action.
- Your campaign expands your customer and prospect databases.
- Your campaign forms a platform for ongoing interaction with each database.
To follow are 7 key Steps for planning a successful promotion…
1. Set Objectives
Objectives - what are you aiming to achieve?
- How many customers or prospects do you need to attract / convert to sales?
- Do you want to upsell?
- Do you want to encourage repeat sales?
2. Define your target market(s).
- New customers
- Existing customers
- Lapsed customers
- Mass markets
- Specialised market segments
3. Develop your core advertising message and campaign structure
Sit down with your creative team and focus on the content and creative theming of your campaign. With your objectives and target market(s) top of mind, develop a relevant and compelling campaign message.
Keep the core advertising message simple and don’t try to be too clever. With most advertising mediums, you only have a few seconds to attract attention and to promote your core offer.
Also make the campaign easy to be a part of, or to interact with. For example, if you’re running a promotion in the hardware channel offering busy tradespeople the opportunity to enter a competition when they purchase your product, consider an SMS competition entry mechanism so they can conveniently enter on the spot.
4. Select valid Communication channels
This is where you will need to allocate resources to your sales and marketing mix: a trade or sales incentive, consumer sales promotion, advertising, point of sale material and PR. You must create awareness among your sales team, retail buyers and end users for your promotional campaign to succeed.
5. Develop the Promotion Budget
You must now determine the total promotion budget. This step involves determining cost breakdowns of all sales efforts and elements of the media mix. It should also factor in prizes, prize distribution and other administrative costs. By breaking down these costs, you will be able to set sales targets and gauge the potential success of your campaign in relation to return on investment. You should also consider setting aside funds for a pilot promotion to test market your campaign and to enable fine tuning of your product offer and sales and marketing mix prior to launch.
Depending on the structure of your promotion and the states that it is running in you may need Trade Promotion Permits. For more information on state specific trade lottery regulation click here.
7. Determine Campaign Effectiveness
You will also need to determine how you will measure the effectiveness once it is implemented. How did the actual performance measure up to planned objectives?
SAM Sales and Marketing have an extensive and proven track record in working with distributors, wholesalers and retailers to plan, execute and manage successful promotions.
If you’re time poor and need assistance with planning a promotion feel free to contact Peter McKinnon to discuss your campaign
Phone (03) 9 6465644