An at-a-glance guide to one of today’s fastest-growing marketing tools:
- Target Define the target for the promotion clearly. Is it sales maximization, inducing trials, increasing footfalls or simple information gathering . This will help in coming up with the most effective promotion construct.
- Target audience: It is very critical to define the target audience unambiguously to ensure that the communication is directed at them and also to ensure that the promoters approach the right target audience.
- Trim: Trim the frills. An effective sales promotion is one that is well executed and not one with the maximum frills. To execute the promotion effectively, keep it simple.
- Timing: The success or failure of the promotion is determined by the timing of the promo. Get it right.
- Trade-off: The hero of the promo is the trade-off or offer that is being given to induce trials or push the product. Ensure that the trade-off matches the target profile.
- Track: Once the promotion is kicked off, track progress on a daily basis and intervene to recalibrate or modify the promotion, if necessary.
- Tight execution: The devil is indeed in the details. Ensure that every detail of the promotion is taken care of and executed well.
- Train: Train the promoters/ field force and channel partners thoroughly before you start the promotion. The number of hours invested in training will yield dividends in terms of time saved from trouble-shooting subsequently.
- Take down: Take down all relevant pieces of information of customers contacted, and about programme implementation for analysis and learning.
- Think alternatives: Do the best but be prepared for the worst. Think of alternative plans for every contingency that you can conceive of.
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