Several steps to create a stock catalog
The main mission of the retail is sales increasing by satisfying the demand of the population. But with the advent of competitors, sales begin to fall. How to achieve the desired goal, if other shops and stores are appeared on the trodden way of your buyer?
Promotions! This is the first thing that comes to mind. And, as the experience of leading retailers shows, it is the right decision!
When you are preparing promotions, it is necessary to take into account many factors: purpose, time, place and relevance, target audience, agreements with distributors, and much more. Today, we should be prepared for unexpected changes in the market. In such a situation, the Promotions Catalog can be your great helper.
Steps to create a Promotions Catalog in a retail chain
In order to properly develop, plan and conduct actions, you need to follow three important steps.
Step 1. Create a classifier for all promotions
We need it to understand why we need a promotion and how it fits into the overall development strategy of the retail chain.
The promotions' classifier should include the following items:
- Image promotions are aimed at forming and improving attitudes towards a retail chain or brand.
- Incentive promotions are aimed at increasing purchases.
- Traffic promo is an action, which is accompanied by active advertising in the media, on billboards, etc.
- Promotions-discounts are used to reduce stocks of slow-moving goods.
- Communicative promotions are aimed at building relationships with the client. These are the activities that help increase customer loyalty - promotions that increase the duration of the client's cooperation with the retail chain.
Step 2. Create a clear plan for each action
Here it is necessary to plan each specific promotion - the conditions of the promotion, promo items, goals, related activities and costs.
Step 3. Set the promotion period
At this stage, we draw up a promotion calendar that will take into account all the factors that affect the behavior of the average client of your chain.
Ideas for organizing and conducting promotions
Consider several options for how to most effectively conduct different promotions:
- Ideas for image promotions
Here you should use event marketing. At the same time, it is important to remember that such an event should delight the buyer. For example: "Shopping with the stars" (invite a media star), "Hunt for rewards", "Children's drawing exhibition”", etc. It can be anything, the necessary thing is positive mood and to remind the name of the organizer in time.
To participate in a social project. Charitable actions help the retailer to strengthen the image of a caring, humane, involved in the public problems brand.
- Ideas for incentive promotions
For such marketing activities, you should use a promotion with a guaranteed win - likes as a lottery.
Promotions on the principle "Buy and get a coupon for the next purchase" also work well.
Effective "Instant Surprise" promotions. This is an instant lottery in which buyers are offered the chance to win right now the big prize which is useful to them.
- Idea for traffic promo
You can draw attention to the store through a custom online game. To do this, you need to create your own game or integrate with already established games. Next, you should provide the opportunity to receive new levels for free by entering the code from the receipt or promotional package.
- Ideas for promotions-discounts
To create of promotional packaging. This is a special package containing an additional product (bonus) to the standard product packaging, often without price increasing of the promo items. At the same time, the expected cost of the "bonus" product should, as a rule, be 20-50% of the price of a standard package.
To offer a cash back promo. This type of promotion is suitable for stimulating sales of not a single, but several products. It is fit for grocery stores where a customer can buy multiple products at once and get a meaningful cash back on the purchase price.
- Ideas for communicative promotions
To organize a promotion offering useful bonuses for "faithful to the company" customers. The action can be dedicated to the birthday of the company or some other holiday, for example, "City Birthday".
To provide a cumulative bonus, which the buyer does not receive immediately, but only after making several purchases in a row. For examples: 'collect 10 promo codes from product labels and get a prize", "collect points and choose a gift at the end of the month"
To organize a contest - a type of promotion, which is aimed at strengthening the emotional connection with the target audience. Examples of contests: come up with a poem, a song, a fairy tale using code words; find 10 differences in the pictures; come up with the most ideal product of the future; competition for "the best ...", etc.
Celebrating various events, market presentations, gifts, games, competitions, discounts and certificates with customers are all help you increase the sales and the number of people loyal to the company.
A detailed catalog of promotions today will allow you to share the joy of a customer from a purchase in your favorite store tomorrow.