Marketing practices in merchandising are critical for the sustainability of both sales and growth objectives. Offering discounts and campaigns to customers is one of the most effective marketing methods. The main goal may seem to make customers happy and increase brand loyalty. However, if discounts and campaigns are offered within the right strategy, they provide brands with many significant contributions from stock optimization to increased turnover. So, how to do effective discount and campaign management? We have compiled the three most effective discount and campaign management strategies for you!
Today, discounts and campaigns for merchandising are sales strategies
Until recently, promotional campaigns, in particular, were one of the marketing methods used in merchandising to enable the end-user to experience the product. It has now changed. As in many fields, competition has also increased in merchandising and turned promotions,discounts and campaigns into a sales strategy for brands, particularly those working with chain stores. Thus, discount and campaign management serves more purposes than ever for marketing in merchandising, while it has become vital to carry it out with well-planned strategies. Let’s take a look at these strategies.
1) Set clear goals
Maximizing turnover and margins is the common goal of all brands operating in merchandising. However, when it comes to discounts and campaign management in merchandising, focusing on sub-targets to help brands achieve this goal is necessary. So starting with the basic need, clarifying the focal points is a must to maximize turnover and margins. These focal points can be stock optimization, sales, customer loyalty, or brand awareness. These goals are interrelated and require different discounts and campaign types. For effective discount and campaign management inmerchandising, many variables as product groups, stores, customers, potential customers, and consumer’s loyalty level should be evaluated together by monitoring them instantly.
2) Know your customers and personalize discounts and campaigns
Customer segmentation is a must for effective discount and campaign management. Instead of sending mixed messages to the entire customer base, discount and campaign management strategies based on customer segmentation focus on maximizing the conversion rate. So you need to have a discount and campaign management that can communicate with the merchandising sales system in real-time. In this system, field teams are aware of active discounts, campaigns, and customer feedback can be monitored. Personalized discounts and campaigns play the most significant role in the success of this system. For instance, let’s consider the high volume of e-mails and SMS that consumers receive from brands daily. Creating the intended effect on the customer is highly difficult in this chaos. Thus, they need personalized discounts and campaigns that will attract their attention and make them feel special. Customer segmentation allows you to control many details from which channels are used by which audience to which customers’ needs are increased in which periods. Thus, you can create special discounts for repeat orders or prepare campaigns for the most preferred period of the product group you choose.
3) Manage the process end-to-end with discount and campaign management software
Considering discount and campaign management as “determining the right time to both finish stocks and increase customer satisfaction” only creates a short-term profit illusion. Discount and campaign management in merchandising includes dozens of integrated processes. Especially on a diversity basis, the competitive environment escalates every day and makes it almost impossible to achieve growth targets with traditional discount and campaign management alternatives. Here, the discount and campaign management software allows you to manage the entire process end-to-end. You can create campaigns based on field data, assign campaign-related tasks to field teams organizing the shelves, monitor shelf performance instantly, and receive stock and price analysis. With discount and campaign management software, you can deliver the product or product group you want to highlight to the right customer group in the best possible way. Also, campaigns can become an essential step in reaching business goals instead of short-term profit projects.
Meet FieldScope for effective discount and campaign management
With the discount and campaign management solution of FieldScope, you can create and manage different campaigns simultaneously with its user-friendly interface and offer special discounts and campaigns to your customers with a single click. With its discount and campaign management solution, FieldScope allows you to manage the entire process from a single hub anytime, anywhere. Also, it facilitates developing data-driven marketing strategies by integrating critical data such as inventory groups, price lists, and profit and loss into the hub. You can always be one step ahead of your competitors with special campaigns for products, product groups, and customers.
