A Good Label is Key to a Good Promotion
Every business needs to give sales a periodic boost, and a well-timed promotion is the perfect way to do it.
January is a time for hangovers, both literally and figuratively. While most of us have suffered the consequences of over-indulgence during the New Year celebrations at one time or another, there is a broader feeling of lethargy that tends to fall over individuals and businesses as we get back into a normal routine.
It is almost certainly not helped by the fact that the festive season has such an impact on our finances. Many simply spend January hunkered down waiting for the end of the month, pay day and some sort of return to financial equilibrium.
Of course, this has an impact on sales across a variety of industries, but most specifically, in retail. Little wonder shops try so hard to tempt consumers to spend a bit more by having sales.
But of course, you do not necessarily have to go the whole hog and join the department stores with a January sale. Selective use of special promotions, backed up by the right publicity and promo labels can be just what you need to give your sales a boost at the most critical times.
What makes a good promotion?
Think of a promotion and your mind immediately leaps to 20 percent discounts and the like, but there is more to a promotion than simply reducing prices. In fact, that is often the worst way to go – not only does it erode your profit margins, it can also have the effect of damaging your brand reputation by, quite literally, cheapening it.
There are far better strategies, including the following:
- Extra product – 20 percent extra free only costs you a little more in raw materials, but gives the customer the impression that they have made a huge saving.
- Multi purchase offer – three from a given range for the price of two gives something to customers, and also encourages them to try new product lines.
- Money off vouchers – offering a discount on a future purchase provides a tangible benefit to customers, but only when they give you repeat business.
What makes a good promo label?
The way in which your product is labelled provides the biggest deciding factor for customers between it and your competitor’s offering. The label is one of the most powerful marketing tools at your disposal.
Your promotion needs to be properly communicated to customers in order to be a success, and so getting the promo label right is of critical importance. A good promo label will not just attract the attention of your customers, it will also encourage them to respond the way you want them to.
Getting it right depends on understanding what you want to achieve. For example, are you purely interested in shifting more units off shelves, or is your objective more along the lines of attracting more attention to your brand?
Discuss all aspects of the promotion with your label stockist to get the best possible return on your promotional campaign.