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4 tips for planning a successful promotional strategy

Micheal Jess
Commercial Director at Edge Pri
Starting off as one of Edge's Customer Service employees whilst completing his degree at Deakin University many-many moons ago, Michael (or MJ) now leads the sales team. With one finger on the pulse of the many promotions in market and just another flight away from a client meeting, Michael has experienced promotions from every aspect and understands what makes a great promotion, great!

There are different approaches to developing an effective promotions strategy.

At Edge we recommend focusing it around the consumer.  We’ve found that a successful promotion, where a consumer connects with a brand physically or digitally for incentive, is the outcome of a creative and innovative promotion. Invariably it is only executed after being carefully planned.

Timing is equally important, with some of the most the most effective promotions considering the moment.

With LION, we developed an effective plan for a redemption-based promotion designed to drive sales and stand out in a cluttered market. Without an effective plan in place, the promotion could not have utilised fixed fee pricing, validation and fulfillment and the rewards insurance.

Here are some other key elements and top tips to use when planning a successful promotions campaign.

Put your plan in place from the start

Taking time to plan effectively early on will lead to objectives being achieved and help minimise costs and risks.  An effective promotions plan could also give you more options and flexibility, ensuring you have a seamless execution.

  • Consider if you need on-pack printing or on-site activations – obtaining legal approvals may take time.
  • Determine the schedule required for your promotions campaign and include this in your plan.

At Edge, through fixed contracts, we can collaborate with clients early in the planning cycle and build on key learnings, insights and success factors from previous campaigns.

Factor in calendar events

Plan and map out your promotions for the year and determine when key sales events fall.  Look for relevant events and opportunities that align with your consumer and target audience.

  • Explore major sporting events, cultural festivals, public holidays, financial milestones or movie and product release dates.

Have a consumer mindset

Understand your target audience to have impact with your promotions campaigns.

  • Design your promotions campaign to coincide with how your consumer behaves and thinks.
  • Tailor your promotion with a consumer mindset – is there a specific time or day that would target your consumer more effectively.

Be responsive and agile with your promotions

Some of the most memorable promotions leverage off trending and current news and media events. To have a responsive and successful promotion you may also need to turn it around fast.  At Edge, thanks to our digital solutions, we can give clients fast and short-lead promotions campaigns. For these types of promotions, we recommend to:

  • Use digital rewards for a quick turnaround – it’s instant and has no production or stock handling.
  • Use purpose built white label promotional solutions. For example, incorporate entry forms, claim sites, and loyalty programs.

There’s a lot to consider if your promotions campaign is going to achieve impact.  But careful and early planning, when combined with effective timing, can deliver an extremely successful campaign.

To help save time and pain with your promotions planning, we’ve put together an easy to use planning checklist.

 

And for more helpful tips on developing successful promotions solutions, connect with us on LinkedIn