I have to do a number of promotions each year. They are mostly to drive short term results. It’s something that I try to change because it’s short-sighted and there are only 2 approaches to play with namely giving discounts or offering adds-on.
But, I am about to come up with another short term promotion. My formula is I go through the below steps of thinking:
- I first decide if I will go with offering a discount or an add-on.
- I then design a promotion (what is an offer?). This step is important. It has to be a “purple” cow offer i.e. my audience need to stop a car to watch the purple cow.
- I decide on a one short message that sums up the promo e.g. A CEO 1-2-3 sale.
- I choose an audience network – who will receive this promotion.
- I track the result.
Step 2 above is the most important step. If you cannot be different, cannot stand out, you shouldn’t waste your time to send a promo out. Everyone did the Black Friday promotion last year. I mean everyone. So, they all got a very small to nothing for their promotions.
Find the way to stand out. If you decide to have a crazy promotion, you have to go to the extreme.