Functions and Frameworks is dedicated to helping business owners innovate

Sunday, August 28, 2011

How To Create a Sales Promotion Plan

Term 1 has finally ended - Yay! =)

Anyhoo, I've been quite busy for the last few months since I've been juggling work, three classes (yes THREE classes) and my three weeks vacation at UK. So I didn't really have enough time to post here for my avid readers (if there's any haha).

All right, I'll keep this one short and simple. I just want to walk all of you through the process of creating an effective Sales Promotion Plan. Some of you might ask why since most of you are in marketing (and would think that the sales promo plan should come from the sales team) but since it's one of the marketing communication tools, the marketing person (which is you) should be the one strategizing how the sales promo should go (at least). :P

Sales Promotion Plan Outline

  1. Environmental Analysis -Analyze all external factors that affects your brand (DSTEP analysis)
  2. Internal Analysis - This is where the SW analysis comes in (strengths and weaknesses of your brand)
  3. Consideration of the Marketing Strategy - Overall marketing strategy and how sales promotion would fit in the plan. 
  4. Identification of the Target Audience - Who is your primary target market for this sales promotion plan?
  5. Determination of the Sales Promotion Objectives - Determine what needs to be accomplished for this campaign. I.E. Increase sales volume, acquisition, etc. 
  6. Budget Determination - include all costs that make up the sales promotion campaign and exclude other marcom tools. 
  7. Identifying the promotional objective - from all the determined objectives in number 5, identify which objectives would fit your KRAs/KPIs
  8. Developing the program - what are the specific programs you will implement?
  9. Design of campaign elements  - mechanics of your program. 
  10. Research and pre-testing - this will include all related literature to support your program. 
  11. Implementing the promotional program - general flow of the sales promo campaign (works best if its graphical)
  12. Briefing the sales force - pep talk! hehe =)
  13. Delivery of items - all logistical requirements go here. 
  14. Fulfillment (in case of consumer)  - if its a consumer promo, how will the consumer receive his/her item. 
  15. Contingency plan - if your initial plan fails, what would be the alternative activities you can conduct to push the program (at least break even). 
  16. Evaluation and Feedback - what would be the tools you will use to evaluate your program. Feedback mechanism?

There you go! Easy right? =D

1 comment: