Sales Promotion Plan Checklist

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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....

Order 750 checklists in MS Word and PDF printable format at $49.99 USD only.

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