Key Ingredients To A Successful Consumer Promotions
June 27th 2007 10:04
Every consumer loves a promotion. An otherwise mundane shopping tripis made more exciting by the prospect of coming home with more than what they started with, a cash prize, an appliance showcase, even a car!
For marketers, a promotion usually increases sales. It is one type of marketing activities where results are easy to measure and simple to execute, compared to other marketing activities like advertising. However, this tool is often misused, leading to the proliferation of mediocre promotions. Common mistakes of promotions are :
1. Speed Bump : Seeing promotions as merely a vehicle to get a quick volume of sales. A great promotion can create brand personality, and can drive sales with results that last long after the promotional window.
2. Boring promos that bored consumers with the usual promo and the usual prizes. Conducting the same promotion year after year can lull your consumers to sleep. Inject some excitement to the same tired concept by changing elements of the concept, the prizes, the look, the feel.
Let's now look about some of the ingredients to a successful promotion.
1. Relevant brand linkage. Like any marketing program, a good promotion must be anchored on a strong strategic positioning, a clearly defined target audience, and clear benefits for joining for the target audience.
2. Highly desirable prizes. Highly desirable prizes does not necessarily translate to expensive. They do, however, have relevant to your target market's needs and lifestyles.
3. Participants believe they can win. Participants must believe that they have a good chance or a fair chance of winning. If a promo has only one big prize across hundreds of participants, chances are the impact of purchasing may not be as great.
4. Simple and easy to join. Make sure that your promotional concept is simple and easy to grasp. Complicated promotions lead to misunderstandings leading to consumer ill will.
So the next time you conceptualize a promo, try to stand out. Formulate your strategy, define your target audience, put a lot of thought into the prizes, unleash your creativity and imagination.
For marketers, a promotion usually increases sales. It is one type of marketing activities where results are easy to measure and simple to execute, compared to other marketing activities like advertising. However, this tool is often misused, leading to the proliferation of mediocre promotions. Common mistakes of promotions are :
1. Speed Bump : Seeing promotions as merely a vehicle to get a quick volume of sales. A great promotion can create brand personality, and can drive sales with results that last long after the promotional window.
2. Boring promos that bored consumers with the usual promo and the usual prizes. Conducting the same promotion year after year can lull your consumers to sleep. Inject some excitement to the same tired concept by changing elements of the concept, the prizes, the look, the feel.
Let's now look about some of the ingredients to a successful promotion.
1. Relevant brand linkage. Like any marketing program, a good promotion must be anchored on a strong strategic positioning, a clearly defined target audience, and clear benefits for joining for the target audience.
2. Highly desirable prizes. Highly desirable prizes does not necessarily translate to expensive. They do, however, have relevant to your target market's needs and lifestyles.
3. Participants believe they can win. Participants must believe that they have a good chance or a fair chance of winning. If a promo has only one big prize across hundreds of participants, chances are the impact of purchasing may not be as great.
4. Simple and easy to join. Make sure that your promotional concept is simple and easy to grasp. Complicated promotions lead to misunderstandings leading to consumer ill will.
So the next time you conceptualize a promo, try to stand out. Formulate your strategy, define your target audience, put a lot of thought into the prizes, unleash your creativity and imagination.
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