First of all, it's essential to know the advantages of applying a promotional strategy to your business. What types of promotions exist? What are the benefits of using them? What are the objectives for companies that usually apply them? You can find all this information in this post about the promotion strategies to attract customers and increase sales.
Once you are sure about the above information and know what a promotion strategy is and what it is for, you will know what steps to follow to create a strategic plan to carry out an effective promotion strategy.
It is essential for your brand to define a strategic plan before carrying out promotions since this will allow you to choose the most appropriate one according to the different aspects highlighted in this post.
In addition, you will learn how the LogiCommerce platform can help you carry out your promotional strategy easier and with the most advanced functionalities.
You have to establish the objectives of your promotion strategy. What do you want to achieve? This point will be crucial to determine the next steps of the plan. Depending on the objective you set and the target audience you will address, you should apply one promotion or another.
You have to define the target audience of the strategy. Who is interested in this promotion? To do this, you must have well-defined your company's target and the buyer's stage in which they are to know what their real needs are, what benefits a promotion brings them, why they might be interested in it, etc.
Next, you will choose in which products and services the promotion will be applied to. Once you have defined the objective and the target audience, you will know what their needs are, what products they usually consume, and on which of them you will be able to apply for a promotion so that the user will consider it a real buying opportunity or bargain for them. Depending on the margin that the business has on each of their products or the maximum reduction that can be applied on them, you should choose one discount or another for each product or the other.
Now it's the turn to choose the type of promotion for the products and services. Which one is the most suitable according to the objectives of your business? There are many different options to choose from: discount vouchers, conditional discount, discount pack, NxM, etc.
Now you must define the duration of the promotion. When and for what period of time will the promotion be available? Using the concept of scarcity causes users to feel that it is something that will not last long and an urge to buy the products is created, therefore, the user is encouraged to take advantage of the promotion before it ends.
It's time to choose on which channels you will broadcast the promotion. To do this, you must study and analyze which channels are most used by your target audience. Channels can be social networks, e-mails, etc. It will also be relevant to define the message you want to convey and how do you want to transmit it in each of the channels?
You have to create a certain expectation in these same channels in order to create an interest in the audience. You can offer them some details of the promotion or some preview of what is going to happen.
The promotion will then be launched following the strategic plan you have defined.
You will be able to track your strategy, which will allow you to know how it has been progressing and what results in you have obtained with the promotion campaign.
By analyzing the results, you will know whether the strategy has been effective or not.
Some of the aspects you may want to consider, during and post-promotion, are:
· Was the main goal reached? (link to part 1)
· Reach obtained in your social media publications (about the promotion)
· The number of clicks to the promotion link in social mediapublication
· Calculating the ROI
· Number of purchases made during the time of the promotion
· Number of visitors during the promotion
· Number of Buyers
· Average time visitors spend on a specific promotion page or the eCommerce in general
These results will be kept as an example or reference to be able to improve them in the following strategies and to be able to compare the results.
LogiCommerce is an e-commerce platform that offers advanced promotion management functionalities. The intuitive BackOffice makes it easier to incorporate and create new promotions in any product category of your online shop.
The advanced functionalities we offer to enhance a sales promotion strategy are as follows:
· Customized discounts: configure different types of discounts, such as free shipping, percentage of the total, fixed amounts, gifts, according to units, NxM (2x1), etc.
· Discount for a combination of products: offer a discount to the user if they buy multiple products at the same time.
· Discount coupons: generate, send and track discount coupons for your marketing actions.
· Code tracking: generate reports of discount codes used for in-depth analysis.
· Price by intervals: define price intervals to assign discounts according to quantity for example.
· Discount rules: apply rules to your discounts. For example, apply discounts on the total purchase, on selected products, or the shipping cost, among others.
· Automated discount codes: automatically generate one or multiple discount codes.
· Expiration date: define expiration dates for gift vouchers and discount coupons.
· Advanced discount segmentation: personalize shopping experiences through advanced discount segmentation and targeting.
· Choose a gift option: apply a promotion to allow the customer to choose a gift from a selection of products.
· Discount on the base price: apply a discount to products over the base price, that means the price without any discount, offer or promotion.
· Gift vouchers: generate gift vouchers with a fixed amount for your campaigns and promotions.
· Export codes: export discount codes for offline distribution, e-mails, newsletters, etc.
· Conditional promotions: configure promotions for every X product, between X and Y, or more than X.
· Gift products: offer any product from the catalog as a gift for promotions.
As we can see, LogiCommerce offers advanced native functionalities for a seamless management of different promotion strategies.
It´s vital to choose which eCommerce platform will accompany you throughout the life cycle of your business. Therefore, it must have advanced functionalities incorporated into the platform itself so that it does not become an extra expense for your business.
Developing a strategic plan before launching a promotion is of vital importance to increase the sales of your business and attract the public that really interests you.
Setting objectives, defining the target, selecting the products, choosing the right type of promotion, the duration, and the channel through which you are going to promote, are undoubtedly essential aspects to achieve success.
LogiCommerce is an example of an e-commerce platform that helps you in your Sales & Marketing Strategy by offering you the most advanced native functionalities to increase your sales.
Contact us and we will offer you a wide range of marketing tools to create the best promotions for your eCommerce!