Tuesday, August 4, 2009
Now that’s the Million Dollar question, are you?
When you set out to run your summer promotion, did you perform your due diligence on which you were first going to target with this promotion, so that you can see if you have the right customer, for the right outcome?
When you run a general promotion like “Sizzling Summer Deals”, don’t think that everyone wants/needs it, especially if your message is not directed to any special wants/needs of the demographic that you are promoting.
Before you commit to any promotion, you need to first ask the question and get answers to: What want/need is this promotion going to fill for a specific client, how are you going to get the message of your product information to them, how are you going to track the success of the promotion to determine the R.O.I., what ways are you going to build into this promotion a sense of urgency to commit to the purchase and finally, have you built in enough top of mind awareness to your targeted prospect, so that you differentiate your promotion from that of your competitive set?
When you get some sense of the answers to these above questions, a more detailed and directed promotion can evolve, which will result in greater success and R.O.I. to your expenditure. If you can just break your one promotion into 3 different ways in which you are going to target different prospects, you can then start to determine which one of those three promotions where successfully taken by the prospect and by whom. Once you determine this, a greater emphasize can be placed on that promotion and the unsuccessful ones can be modified to once again track and find the “hook” that will make your “right customer”, produce the right outcome for your promotion.