Industry jargon not your thing? Our glossary will enlighten you!
Sales promotion encompasses a range of short-term, incentive-oriented marketing activities aimed at increasing sales of products or services. These activities are designed to appeal directly to potential customers and motivate them to make immediate purchases by offering additional value or incentives.
Increasing sales: Short-term increase in sales figures through incentives.
Creating brand awareness: Increasing the visibility and awareness of a product or brand.
Acquiring new customers: Attracting new customers and expanding the customer base.
Retaining existing customers: Increasing customer loyalty through exclusive offers.
Discounts and special offers: Limited time discounts or special offers.
Vouchers and coupons: Provision of vouchers for redemption on future purchases.
Loyalty and bonus programs: Reward systems for regular customers.
Sweepstakes and contests: Running contests with prizes to increase customer engagement.
Target group analysis: Determining the target group for specific promotional campaigns.
Budgeting: Determining the budget and resources for the implementation of the campaigns.
Creative design: Development of appealing advertising materials and campaigns.
Cooperation: Collaboration with partners for joint promotional campaigns.
Sales figures: Monitoring the increase in sales figures during and after the promotion.
Customer feedback: Collection and analysis of customer feedback on the promotions.
ROI analysis: evaluation of the return on investment of sales promotion activities.
Sustainability of the promotions: Ensuring that promotions do not erode brand equity or lead to frequent price expectations.
Targeted promotions: Developing promotional strategies that are specifically tailored to the needs and desires of the target group.
Digitalization: Integration of digital technologies for personalized and targeted promotions.
Sustainable promotions: Growing focus on environmentally friendly and socially responsible promotion strategies.
Sales promotion focuses on short-term incentives to promote sales, as opposed to long-term strategies such as brand building or customer relationship management.