Building brand equity through sales promotion
Sales promotion is
a direct inducement that offers extra values and incentives for the
consumer. Its major goal is to maximize sales volume and quicken the
sales process.
It comes through
reduction, discounts, commissions, and free sampling. It is an activity
that appeals more to the consumer’s purse, to make immediate purchase
decision of a specific brand.
Since it generates
sales that cannot be achieved by other means, it is important for brand
custodians to evolve a strategic action plan that deepens relationship
with the consumers. This is very important because I have discovered
overtime that some companies embark on sales promotion without any
relationship with the consumer. I will give an example to illustrate.
I am a customer of
a highbrow fashion outlet, though I must state here that the outlet has
a good data base of customers, but it all ends there. My other details
such as birthdays, wedding anniversary, and others should have been
documented as well.
My case here is
that it should not only be during sales promotion that I receive text
messages. Sales promotion should be a coherent branding strategy that
is hinged on a beneficial relationship with the consumers. This way,
brand loyalty is sustained. When all these happen, sale promotion would
definitely achieve desired objectives, as the brand becomes the
property of the consumer.
Sales promotion and consumer insights
While it is true
that not all consumers can be captured, a sampling method could be
adopted which can represent the views of an average consumer.
The role of
consumer insights here is to generate leads that can make the sale
promotion succeed. Some of the key insights are to ask probing
questions about consumer preference in terms of incentives, the nature
of the promotion, timing, and brand perception. All these go a long way
to make the sales promotion succeed.
This is because
today’s consumers are more concerned about an offer or extra incentives
given by the brand, and not only a brand promise. The sales promotion
activity should build customer equity, deliver worthwhile experiences,
and deepen relationships. It is indeed a call to action to connect
directly with consumers.
The incentive in
any sales promotion should be one that would motivate the consumers,
who should derive maximum benefits. They feel the burden in their
purses and this should translate to enormous gains for them. They
should gain extra value for what they have invested in – the brand.
The issue of
negative perception should also be addressed right from inception of
the sales promotion. An error can occur along the line and this may not
be deliberate on the part of the company. It becomes important to put a
mechanism in place to proffer immediate response in order to avoid
negative perception. Several brands have been negatively projected due
to the lack of a pro-active communication.
Sales promotion
offers a veritable platform to build brand image and as a result, a lot
needs to be ensured to eliminate any form of negative perception. It is
also not a period to offer expired products for sale. Consumers have
been ripped off through such acts and that is why the Consumer Advocate
Forum has taken up the gauntlet to checkmate these act.
Any brand that
fails to live up to its promise will be dismissed and destroyed. The
only way to engage in genuine bonding and connection with consumers is
to develop long term relationship built on trust, respect, and mutual
benefit. Sales promotion is that springboard to build an enduring
relationship with consumers.
Ayopo, a public relations specialist is the CEO of Shortlist Limited; shortlistprspecialists@gmail.com
