Sales Promotion Ideas
Sales Promotions are typically defined as short-term incentives. Usually less than 6 months in nature, sales promotion ideas are designed to provide a behavioral “what is in it for me” to the purchaser/seller or as a marketing tactic to gain increased visibility for an initiative (product category, new product launch, etc.). Short-term sales promotions are typically funded with 2-5% of the value of the product for companies with low margins, 5-10% for companies with higher margins.
These strategies can be open-ended, allowing anyone who meets the criteria to earn a reward, or closed-ended, such as a sweepstakes, where there are a limited number of winners. Fun strategies such as scratch cards, peel-offs, and other games of chance can also be incorporated into a promotion. The key to many sales promotion ideas, however, is a strong communications strategy and the involvement of your sales organization.