 Promotions and advertising
George
Benson has specialized in sales and marketing management
since the late 1970's. Over the past 15 years, George has
successfully designed and implemented over 400 marketing campaigns
with 16 retail corporations and an additional 20 suppliers
of Fortune 500 companies in 34 countries. George's previous
experience includes marketing and sales management for Ford
Motor Co. and BP, director of advertising and sales promotion
for Ultramar, and he is currently the president of Octane
Marketing, Inc., a company specializing in creating promotional
campaigns for the petroleum industry.
Web: www.Octanemarketing.com
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YOUR QUESTION
Recent Questions:
1)
Loyalty promotions are increasing in popularity across our
industry. Should my company consider moving in that direction?
Loyalty
Promotions such as the kind used in Europe in the 80s and
90s and more recently in Canada have all suffered from 3
things: high on-going administration costs, a long reward
redemption wait for customers and an expensive end-of-program
liability for the company. The new crop of flexible short-term
loyalty schemes recently developed fit the mentality of
U.S. consumers and company budgets much better than ever
before. Yes, they deserve a second look.
2)
What is the difference between a sales promotion and merchandise
special?
Merchandise
specials usually involves discounted retail pricing on a
specific product or service. A sales promotion is a reward,
requiring customer pre-qualification such as the minimum
purchase of fuel and/or c-store products or services.
3)
Since I joined my company 7 years ago as their Sales and
Marketing Manager, I have never budgeted much for advertising
and promotions. What return-on-investment can I expect for
including this activity in my budget?
Advertising
is a positioning tool that defines and promotes the character
and culture of your company in the minds of consumers. It
is also a sales-supporting marketing activity that works
hand in hand with the promotion of on-site goods and services.
A well-balanced advertising campaign that respects your
company's vision while "promoting a promotion" can realize short-term volume/traffic increases of between
15% and 30% over an 8-week period.
4)
How can I use advertising and promotions to increase the
flow of gasoline customers into my c-store?
Combine
solid hard-hitting POP island advertising, on-island audio
spots, on island coupon dispensing, visual dispenser messaging
and a strong continuity or collectible based promotion and
you will enjoy the tripling of traffic from the island to
the store within a week of launch.
5)
Where should I be spending my advertising dollars?
If I
had a dollar to spend on advertising, I would split it 70%
on on-site signage and 30% on neighborhood directed electronic/print
media.
6)
I do not have any funds to redirect to promotional activity,
are their options?
Self-funding
promotions are campaigns that feature a premium for a discount
to customers, yet cover the cost of the premium and all
supporting advertising. High appeal seasonal or topical
premiums can be just as effective as a giveaway or contest
promotion and pay for themselves at the end of the day.
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