If you have read any of Peazie’s latest blogs you would definitely be starting to understand the huge benefits of running promotion campaigns, and how they can be one of the most effective ways for any organisation to achieve their high-level marketing objectives. For all the converts out there who do understand the power of promotions but are just a little lost in how to get started this blog is dedicated to you. We present the 6 step guide to devising a successful promotion (Part 1).
Step 1. Campaign Objectives
A promotion, like any good marketing campaign, starts with understanding your objectives. What is your business trying to achieve from doing a promotion? Here are some typical marketing objectives to help you decide:
- Database Acquisition: Building your ‘owned’ audience is one of the smartest and high leverage activities a company can do. It gives you access to a list of subscribers who you know are interested in your business as they voluntarily opted into receiving messages from you.
- Brand Engagement: In today’s media landscape getting consumers to engage with your brand is harder than ever. If your brand engagement is at an all-time low the right promotion could re-ignite that emotional attachment you want your customers to have with your brand.
- Online and Offline Sales: Sales is usually one of the most important objectives for any organisation because at the end of the day this is what drives profits. Promotions can be effective for both online and offline sales.
Step 2. Campaign Dates
Choosing a date for your promotion may seem obvious, however carefully planning when all the major milestones will be for each stage of the promotion is extremely important to setting clear timelines for you (and your team), as well as making sure the promotion runs smoothly.
Important dates to set in advance to create your timeline include:
- Start Date
- End Date
- Prize Draw Dates
Depending on what your marketing objective is your promotion may need to coincide with a certain holiday period, special event, or maybe a product launch, therefore make sure to take this into consideration when planning your promotion timeline dates.
Step 3. Incentives (Prizes)
Without the right incentive consumers will not be motivated enough to enter your promotion. Remember it’s a value exchange between what you want (eg. an email address for your database) and what the consumer wants (e.g. a prize). Here are some considerations to keeping in mind when deciding your promotion incentives:
- What is your major prize going to be? Every promotion needs a prize that is highly relevant and compelling to your target audience. The prize should also align to your overall brand offering. For example, if your audience is ‘youth-oriented music fans’ the perfect prize could be ‘2 tickets to an exclusive music festival’.
- What are your minor prizes? Minor prizes aren’t something that everyone decides to add to their promotion, but most times it’s something they should be doing. Everyone loves a great major prize, but what else everyone loves is the feeling they have a high chance to win something. How do you achieve this? Supplement your major prize with multiple minor prizes, giving users a higher chance to win. Perfect prizes could include giveaways of your product or service.
- Prize Distribution? This one goes back to campaign planning. Make sure you decide in advance how you are going to distribute your prizes (eg. Post, Email). Organising distribution in advance ensures happy consumers as everyone gets their prizes in a timely manner.
Well there you have it, Part 1 of our ‘6 Step Guide to Devising Your Promotion’. We look forward to seeing you next time next time where we will go through the final three steps.