Do you truly have a strategy behind your sales promotions or are you just trying everything you can without clear goals and strategies? Having a focused strategy is important. Having sales promotional goals are needed to obtain desired results. Just trying to do anything and everything all the time does not lead to sustainable success.
How to design strategy to achieve sales promotion goals:
Step 1: Identify “types of buyers” for your business
Step 2: Determine “desired results”
Step 3: Create aligned strategy with type of buyer, desired results, and the sales promotions
Step 1: Types of Buyers—Who are you targeting? Knowing the type of buyer you are targeting shapes the strategy needed to acquire the customer.
Step 2: Desired results—Based on the type of buyer, the desired results and thus, corresponding strategy varies.
Step 3: Sales promotions—Strategy development based on alignment of buyer to desired results. The following examples of sales promotional strategies align with trying to attract the identified buyer with desired results.
What this means is that a manager needs to carefully analyze their customer base and then determine which customer segment they need to develop and grow. This will determine the appropriate strategy needed to target that segment of the consumer group. Determining where there is opportunity for growth is critical to being able dedicate resources to that seize that goal.