In part 1 of this blog, we discussed the value to brands of promotional displays in retail locations. These displays tap into consumers’ psychological tendency to make impulse purchases, which are a long-proven driver of sales.
But a trend toward clear-aisle policies—combined with retailers’ increased use of their own promotional programs has created a highly competitive environment for space and consumers’ attention. To get retailers to accommodate displays and consumers to respond, manufacturers must find new ways to make their brand displays exciting and special.
The displays that stand out are those that are tied to a creative, unique, well-designed promotional program. Retailers will get behind displays that are part of a promotion that will generate interest and increase shoppers’ cart size.
As you develop your brand promotions and displays, consider the following strategies, which are proving successful in winning over retailers—and consumers.
Provide real rewards
Price discounts have become so commonplace—with the regular price crossed out and the feature price below—that they easily go unnoticed. To best catch consumers’ attention and spur purchases, the reward offered must be something of reasonably significant value. Think 50 percent, not 50 cents!
If the offer is significant enough to make the consumer feel there is value to be gained, they will buy. Significant rewards make significant impact. Retailers can get behind these programs, and your brand can reap the benefits of increased sales.
Use unique concepts
Don’t be afraid to do something different! Think about concepts that no one has done before and/or no else can offer. Uniqueness piques consumer interest—particularly if there is already interest related to an aspect of the promotion.
A highly-successful example of this is Pepsi’s “Win an Xbox Every Hour” campaign. For two months, Pepsi gave away an Xbox 360 every hour of every day to consumers who entered the contest.
A key to the program’s effectiveness was its uniqueness. The Xbox 360 itself was new—the promotion ran months before the first Xbox 360 was available in stores. Pepsi was able to tap into already-existing consumer excitement about the Xbox360’s introduction. The combination of the unique mechanic, the large quantity of prizes and the intrigue of the prize itself created a hit with consumers and marketers alike. Millions of people entered PIN codes online, far exceeding expectations. What seemed like a crazy idea spawned one of the most successful promotional campaigns in recent history.
Leverage licensed partnerships
Brands spend millions on sponsorships and licensed partnerships, and with good reason – sports are wildly popular. With worldwide interest, constant media coverage and millions of eyeballs, the value of sponsorships continues to grow. But let’s do more than printing your brand name on a uniform or in the arena – leverage these sponsorships at point of sale. Create a campaign that ties the sponsorship to sale of your product. McDonald’s Red Hot Football is a great example leveraging a licensed partnership to create an outstanding promotion.
Despite increasingly limited floor space, retailers still want to feature displays that support brand promotions—if they can generate interest. To succeed, manufacturers must – and we mean must – create compelling promotions with enough allure to draw people to the store and make them more likely to purchase. If you can nail this down, you’re on your way to a winning promotions strategy.
I’m the Business Development Manager at Insured Creativity.