Retail Promotion Challenge

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Retail Promotion Challenge

Oct 1, 2008 by Mark Maier

There's a financial retrenchment going on in households that hasn't been felt since the early 1990's" says a study from TNS Retail Forward. The study is calling for the weakest Christmas in 17 years, taking consumers back to 1991. Retail growth is expected to be a paltry 1.5% this year compared to 2.7% last year.
Supercenters, warehouse clubs, and dollar stores along with consumer electronics retailers will be the winners at the cash register while luxery marketers, mainstream department stores, and home furnishings required to market hard to compete.
If we don't give retailers a tool to maximize sales available this season, we stand to loose as well. So here's the challenge...now through October 15th we are asking you to submit your best holiday promotion to the comments section of this same article on our Blog with the best promotion contributor receiving $100.00 in cash. The promotions will be judged by LPG staff on the ability to involve several retailers, generate new clients or upsell existing accounts, and deliver traffic and ROI to your clients. You'll get bonus points if your promotion crosses the platforms of Radio, TV, or Online in any combination.

A Note From Sean:
The gauntlet has been thrown down and who couldn't use a fresh Benjamin for taking a minute to submit your best promotion. Over the years I have seen some great promotions in the markets I visit and here is the opportunity to let your creative prowess shine. I was reminded while in Riverside, California recently that as media sales professionals we need to focus on the basics; constant prospecting, quantifying and qualifying, CMP's, accurate ROI information, written proposals, spec spots, testimonials, outstanding follow up and continuing customer service. I look forward to your submissions and your constant feedback on our website as we get it fully activated to help you increase your sales in media!
Sean Luce,
Head International Instructor,
Luce Performance Group
Houston, Texas, USA
212/100
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Tim Metz
October 2, 2008 2:12 PM

Objective: The Retail Punch Card Olympics is a promotion designed to increase traffic in all retail stores and restaurants in the Retail Location (Mall or Main Street). This is done by incentives, gifts and trinkets provided by each individual tenant at the Center, The radio station, as well as some larger awards and “cash” prizes provided by Property Management Company or Owners Group. Implementation: Each participant (customer) receives a “punch card” (this could also be a charm bracelet, etc.) from a central starting point. The registration card is used to gather data including name, address, phone #, e-mail address, etc. When the card is filled out completely, the starters’ “stamp” is placed on the card. This punch signifies to the retailers that the participant has gone through the registration process and is a legal participant. At each store and restaurant, the customer will be required to win a punch from the store (this can be a simple game, a test, etc.). If the stores are creative, they can also gather additional information on customers, such as birthdays, # of kids, shoe size, etc. When the punch card is complete, it is turned in at the registration booth. Conduct the events across the course of a day, a weekend, a week, or longer, and collect all of the contestant’s information. Hold a drawing for the winners at a pre-determined date and time. Notification of the winners will be made via e-mail and/or telephone to insure accurate data on the entrance forms and if the winner is not present at the time of the drawing. But if they are they will receive a bonus prize (a “dinner for two” coupon). This could actually bring some of the players in for a second time. Every person who enters should receive a thank you e-mail that also contains coupons, vouchers, discounts, etc. marketing the event and the property once again. This could also contain a follow-up survey making respondents eligible for yet another prize (a makeover, spa visit, etc.) Examples of Possible Games and Contests: •Guess the number of jelly beans in the jar. •Cut the deck of cards for a % discount •Ring Toss •Eat a cracker and whistle •Spin the Wheel for a discount •Any carnival type game •Closest Birthday to a given date (get name, number and birthday) •Simon Says type of game •Bang in the nail without bending it Examples of Possible Prizes: Grand Prizes (By Retailers & Management Company) •Travel Awards/Trips •Spa/Make Over Vouchers •Restaurant Certificates •Jewelry •American Express Gift Cards Store Prizes (By Retailers, and Radio Station) •Discount Coupons •A “shopping spree” •Theatre Tickets (Broadway, Regional, Community Theatre) •T-Shirts (Store or Center) (REMEMBER: The Game is not the point, getting them to the location is)

Mark Maier
October 3, 2008 5:51 PM

Tim, Great job explaining your promotion for getting people through the door with your retail Olympics. Now you have set the stage, let's see how the other promotions stack up.