Sales promotion is a way of persuading potential customers and existing customers to purchase a product or service or to attend an event. It is used as a short term plan to increase sales. There are many different tactics that are used within sales promotion, some of these are:
- · Competitions
- · Coupons
- · Free Gifts
- · Loyalty Cards
- Discount Vouchers
There are marketing objectives that are within sales promotions in order to make them as effective and successful as possible. Also by having objectives within them as it allows events to monitor the effectiveness and success rate of the sales promotions they have used. Therefore allowing them to use the correct methods of sales promotions with their targeted audience.
The marketing objectives that are used within sales promotions are:
- Developing brand loyalty.
- Developing sales to new customers.
- Pre-empt/counter competitor activity.
- Developing sales leads/creating a database.
- Developing repeat sale
Win - Consumers of the event can win a prize by entering a competition. Prizes can vary from holidays, cash prizes, product prizes and experience prizes.
Free - Consumers will be given a product or service for no charge. This includes things such as 50% off, BOGOF deals and free sampling.
Save - Consumers will have to save up things such as tokens, loyalty cards and coupons in order to receive something once they have saved.
Cause Related - This is when a consumer buys a product and another organisation will be benefit, for example the consumer buys a bottle of water and 10p of that purchase will be donated to Water Aid.
London Fashion Weekend
London Fashion Weekend have used a variety of methods within their sales promotions. They have used the free method by offering all London Fashion Weekend attendees the chance the subscribe to Elle for 50% off alongside a free Soap & Glory gift and Elle goody bag. They are also offering attendees of the event a free topping when using the quote "FRAELFW"at counters on Frae Frozen yogurt. Which will be available at the event all weekend. Another offer they have given their consumers is a VIP package to stay in the May Fair Hotel for the Weekend for just £280 with the luxury of champagne, full English breakfast and chocolates. Along with this they have given their consumers 2 vouchers for Quinces restaurant, one offering 20% off afternoon tea and the other 25% of lunch. These need to be printed from London Fashion Weekend's website to be used at the restaurant.
They have also used win as one of the methods where they have offered customers the chance to win being on the front cover of their very own Elle magazine if they visit a canon studio. They also then offer them as chance to win a Canon Ixus. Within this methods they have used it to generate repeat custom as they have given attendees the chance to win VIP tickets and a free shopping spree for next years London Fashion Weekend if they are able to explain what they have done for the love of fashion to the ElleUK team that will be around on the London Fashion Weekend in Somerset House. They have also created a prize within the winning method when consumers buy tickets between certain dates that get put in a prize draw to win £10, £20 or £30 Kristina goes West vouchers.
Another offer that London Fashion Weekend have to offer their attendees is the chance of winning a fully inclusive hospitality package for two people including a couture fashion show, four course luncheon, afternoon tea and a complimentary bar through the Royal Ascot. All they have to do is answer a question correctly and send it to an email address and wait for the winner to be announced.
All of these sales promotions I was sent through email after registering with London Fashion Weekend.
Whereas International Confex will have completely different objectives within their sales promotions as they are not selling tickets to their event their objective is to increase loyalty within International Confex events by using the method of win and free. They offer competitions through companies that are at the
International Confex such as Crafty Arty Parties who are allowing attendees are
able to win £100,000,
free theme vouchers, fishing for diamonds on the Great Barrier Reef and the
ability to win 60 Jubilee Princesses. Newswire also offer a free digital health check along with a
free event guide. Many of the methods are used at the event itself such as
offering free shots, goody bags, cakes and coffee available.
But competitions within the win method and free are not found through the website but through direct mailing. This is how International Confex make their target audience aware of the sales promotions through directly informing them through e-mail. This is linked to the type of event that International Confex is which is business to business. Many free products that are available will not be notified to the audience they will receive them upon visiting the event and have a choice as to weather they wish to accept it or not.
Each event using sales promotions for different reasons, London Fashion Weekend with objective of increasing sales in tickets and International Confex having the objective of increasing loyalty and promoting exhibitors at the event. But London Fashion Weekend using sales promotion more effectively than International Confex as they have created sales promotions that are specific to what their target audience are interested in.
References
International Confex (2012) Press Release [online] Available from: www.international-confex.com [Accessed on 8th March 2012]
London Fashion Weekend (2012) Treats [online] Available from: http://www.londonfashionweekend.co.uk/ticket-rewards-and-offers/ [Accessed 8th March 2012]
Masterman, G. Wood, E. (2011) Innovative Marketing Communications strategies for the events industry. New Work. Routeledge.
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