Promotional planning

We’ve come through several very challenging years for the independent Scrapbook Retailer, and 2014 looks to be equally challenging.

What do we do to meet that challenge this year?

One thing I'd stress is WORK WITH A PLAN IN 2014

In challenging times especially we all must give our businesses thoughtful planning to be sure we’re doing the right things. That is doing things that work.

Below are some thoughts on the subject of promotional planning

Marketing plans

Having a written plan for the next 12 months of promotions allows you  to identify how to get the most from your promotion dollars.. But more important it means you are presenting a cohesive face to the marketplace. A solid written plan means you are moving forward at all times rather than trying to put out fires.

I suggest you do this.

Write down on a pad the promotions you ran last year by date. Make notes of how well you did . Then write in the next column what promotion you will be running this year to replace those sales. It may be the same thing or a similar promotion as last year if last year was successful. Or you may want to try something different this year.

Do this for at least 6 months at a time. I suggest doing the whole year at once.

The important thing is to have a written plan of action. And when a promotion runs make notes of how well it did  what you’d do the same and what you would change. Then, when you do next years plan you’ll have good information to use to make your decisions..

 A solid, well thought out plan  will give you the best chance of having a successful and profitable 2014.

Sandy