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Sales Promotion Plan Checklist

 

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Sales Promotion Plan Checklist In this Sales Promotion Plan Checklist we describe a range of steps a marketer must take while planning for a promotion campaign. This document is designed in the form of a to-do list that a marketer can include in daily worksheets. The checklist is best used with VIP Organizer software.


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1. Remember about Limitations.

  • Reaching an increase in sales only by providing extra incentive to purchase
  • Promotion objectives need to be consistent with overall company objectives
  • There should be balance between short-term sales growth and long-term needs for brand image
  • Maintaining brand/company loyalty through generating more intensive customer traffic
  • Customer contests caused by promotion events may extend purchase time
  • Promotion may diminish image of the firm if realized improperly
  • Profit margins may be reduced if customers decide to stock up during the promotion campaign
  • Shifting focus away from the product itself if the campaign fails or takes longer than planned

2. Analyze the Product.

  • Identify the target audience of your product/service
  • Discard intermediaries who purchase but not use your product/service
  • Identify stages of the product’s life-cycle
  • Track the product’s behavior at every stage to see if there are any steps that require correction
  • Identify the product’s characteristics and check if they are unique or special and therefore more attractive to the customers
  • Evaluate your communication strategy to see if ad messages are delivered to and interpreted correctly by the customers
  • Assess risks that surround sales and develop a risk mitigation plan
  • Review the stages of making the purchase decision
  • Check at what stage the customers may decide not to buy your product
  • Identify the reasons for such a decision
  • Analyze your push strategy to check if it promotes your product and stimulates customers to make purchase
  • Figure out how much time you will need to promote your product and increase sales
  • Design a schedule that specifies promotion deadlines

3. Select Promotion Methods.

  • Coupons: this method reduces purchase price to stimulate customers (which have coupons) and patronize a specific product. It requires a clear statement of the product to ensure customers recognize this product
  • Demonstrations: it allows gaining excellent attention of target customers and fostering customer loyalty to a specific product. Meanwhile it involves high labor costs
  • Free Samples: it stimulates trial of a product and increases sales volume at early stages of the product life-cycle. However, it is rather expensive and is not appropriate for mature products and slow turnover products
  • Premium Items: this method lets attract competitors’ customers by offering products for free or at minimum cost as a bonus. It requires a great portion of early investments
  • Rebates: it helps promote any products in a trial basis. The method is great extensively in the Auto and Computer industry
  • Cooperative Advertising: this method assumes that manufacturers agree to pay a certain amount of retailer media. It is only valid if there is good partnership between the retailer and manufacturers
  • Staff Training: this technique lets promote sales by using internal resources. Training helps salespeople do their job better. It requires time and money

4. Plan for Budget.

  • Calculate forecasted amount of revenue you can realistically receive from sales next year
  • Think about how much you charge for your product
  • Evaluate how much it will cost to run your sales promotion campaign
  • Calculate operating expenses
  • Consider if you need to hire new employees to your sales team
  • Determine how many new workers you need and how much you will pay them
  • Determine how much you will pay your current sales staff
  • Calculate the total amount of payroll tax....


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