Promotional Planning

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Mr. Checkout is a national association of independent wagon-jobbers and full-line distributors. We distribute product to approximately 35,000 independent stores around the country and are always seeking the next hot new product. If you have a product, we want to hear from you!

Promotional Planning

The goal of promotion is simple and straight forward, dribble through the hysteria created in the market and inspire customers to purchase a product. There are several promotional techniques involved in retail to prompt a customer to buy a product, but none will be effective if the company does not plan these promotions properly. Several factors need to be taken into consideration before promotional techniques are employed, such factors are finances, location, socio-demographics of customers and type of products. Comprehension of some pretty most of these key elements will guarantee greater sales through the right promotional technique. Therefore, promotional planning is the systematic order of choosing a promotional technique that suits the customers, product and the market. It is planning what promotional techniques to be used and how they will be implemented to boost sales.

Savvy retailers employ promotions strategy that help to maintain high level of customer satisfaction with innovation and custom-made improvements to meet every shopping need. In planning a promotions strategy, it is important for the retailer to consider the following:

• Create offers targeted at getting new customers
• Develop new and innovative ways to sustain the interest of old customers. Give them something new and exciting that they have not seem from your brand.
• Increase the average order size and ultimately satisfy the customers.
Inevitably, retailers are bound to crash if there is no well-planned promotions strategy in place, nothing will actually go right if proper planning is not made. Since customers’ needs vary and fluctuate, retailers through the use of technology can analyze customer trends and devise promotions strategy that suits every type of shopping need in his store. One way of executing a wining promotions plan is by segmenting your customers. Dividing your customers into groups either by sex, age, education, employment, religion, price, sensitivity, product class or whatsoever indices you want to go with, thereafter collect customer data which will help you as a retailer to understand how they respond to various promotional techniques. It will also enable the retailer know what type of promotion technique will work for a particular group by studying their shopping behavior.

Retailers can thereafter test and track promotions based on the groups that were created. It is very possible to test different promotion technique on customers to see their reaction to that strategy. Test and tracking promotions is as easy as comparing the state of one promotional technique with another. When testing and comparing of promotional techniques, the retailer saves ample time and energy on those two techniques than trying track five techniques which may not eventually work. Comparing and contrasting promotions is the best form of testing the right strategy.

One of the strongest form of promotional techniques is fostering relationships with your customers. It goes beyond offering a markdown but connecting to the customers on a personal level is one of the best forms of promotion. A simple birthday message to a customer can mean a whole lot in the retail business. As a retailer establish of customer centrism, let your employees know that the customers matter to you. Proper training of employees on how to test customers, establishing an aura in the store where the employees believe they can help the customer in any way possible and that they can grow in the profession as well will be very healthy. This will lead to greater relationships on all levels and better working environment.

Examples of Promotional Planning

If you have a product, we want to hear from you!

Magazine, Trends, Awards & Calendar
Magazine, Trends, Awards & Calendar
Magazine, Trends, Awards & Calendar
Magazine, Trends, Awards & Calendar