NACS Show attendees who are following the marketing education track will not want to miss Thursday morning’s session “Promotions That Deliver Results.” It takes place starting at 9:15 a.m. in room A313.
A panel of industry experts will share all there is to know about successful promotions—from new strategies and implementation insights to crucial performance markers.
Session moderator Liza Salaria, senior principal consultant at Impact 21, will guide the conversation and field audience inquiries. Promotional marketing will always be a relevant and important topic, she said, if for no other reason than the amount of time and money required for a company to produce a new promotion.
“It’s important retailers ensure that promotions are aligned with their brand strategy, the expected output is well defined within the organizational alignment and there is holistic measurement of promotional performance,” she said in advance of the NACS Show.
Salaria will be joined by leaders from three best-in-class retailers: Jeannie Amerson, vice president of marketing at Enmarket; Elizabeth Hoffer, vice president food and beverages at Weigel’s; and Adam Ruessler, senior manager of merchandising at Love’s Travel Stops.
According to Ruessler, the ever-evolving interests and demand of convenience customers and the surrounding environment are evidence of the session’s necessity.
Amerson agreed that each new year brings new challenges to the convenience market. She also added that engagement and flexibility are key to adapting to fresh data and shifts in the industry.
“Inflation has started to impact buyer behavior significantly, resulting in a loss of transaction counts,” Amerson said. “The success of promotions is more vital than ever to ensure we keep our existing customers loyal and stay competitive by attracting new customers. The fight to maintain and potentially grow sales hinges on promoting the right products at the right price at the right time.”
Salaria suggested additional factors to consider upon creation of a new promotion:
- Clearly define the goal.
- Design a harmonious implementation and be sure to coordinate all deliverables.
- Aggregate analytics across the promotion to measure success entirely and efficiently.
All marketers know that a positive promotion meets its specified objectives and produces visible results, for example, increased product count and higher profit margin. However, it can also have bonus payoffs or be the impetus for future developments.
“Successful promotions can have a far-reaching impact on the business beyond traditional metrics,” Salaria said. “They can encourage a trial of new products, increase consumption, attract new customers, drive repeat purchases or create greater loyalty to your brand.”
Retailers must employ accurate tools and updated information to accurately determine and deliver these outcomes or next steps, Ruessler said.
“Industry benchmarks or competitive data is critical to understand whether you’re capitalizing on performance or underperforming,” he said. “In any promotional programming, it’s important to set performance indicators and success metrics. This is where the magic of data comes into play and ensures those metrics are met.”