Unlock the pathway to profitable promotions
In today’s fiercely competitive retail landscape, businesses face numerous challenges when it comes to executing successful promotional campaigns. Traditional methods of planning and executing promotions often rely on guesswork, leading to ineffective promotions, which may not result in profit uplift.
When it comes to effective promotions, retailers struggle with the following:
Limited visibility into promotion effectiveness
Retailers lack comprehensive insights into how their promotions impact sales volume and profitability. Are the promotions driving the desired outcomes?
Uncertainty in pricing strategies
Determining the right price point for promotional products is a complex task. Retailers struggle to strike a balance between attracting customers with discounted prices and maintaining profitability.
Ineffective targeting and timing
Retailers often struggle to identify the ideal target audience for specific promotions and the most opportune time to run them. As a result, campaigns may not resonate with the right customers.
Limited understanding of brand dynamics
Retailers may lack a clear understanding of how different brands within their portfolio respond to price changes and promotions. This hampers their ability to optimise promotional strategies for each brand effectively.
Missed opportunities and wasted resources
Without data-driven insights, retailers can miss opportunities to capitalise on emerging trends and customer preferences. This results in wasted resources and potential revenue loss.
How can I make my promotions more effective?
Our Pricing Engine and Analytics Kit or PEAK Promotions provides retailers with the power to address their challenges head-on. Leveraging advanced data analytics and machine learning, you can now uncover a more accurate view of how successful your promotions are, both in terms of volume uplift and profit, using them as powerful tools for boosting sales, increasing customer satisfaction and driving business growth. This promotional engine focuses on:
- Uplift – Did we achieve volume uplift during the promotion?
- Incremental Profit – Did we make more profit during the promotion?
- ROI – Given the marketing costs to implement the promotion, did we get a return on investment?
- Price sensitivity – How do my brands react to price changes?
- Optimal pricing – At what price do we maximise profits?
- Region, Brand, Timing – When, where, what product and what price should my promotions be?
Our promotional engine aims to answering the following questions
Did we achieve volume uplift during the promotion?
Say goodbye to guesswork! PEAK Promotions provides you with a comprehensive overview of how your promotions impact sales volume. Our sophisticated algorithms analyse historical and real-time sales data, allowing you to measure the effectiveness of each promotion accurately. This is important for understanding whether discount drives volume, particularly for promotions where that is the main goal. Identify which promotions drive sales growth, empowering you to replicate success and avoid pitfalls in future campaigns.
Did we make more profit during the promotion?
Optimising profits is the ultimate goal of any promotion. PEAK promotions goes beyond simple revenue metrics to unveil the true profitability of your promotional activities. This is all based off an algorithm that calculates a baseline which gives you a view of what would have sold without the promotion. Based on that you can then calculate a true profit. Armed with this knowledge, you can fine-tune your pricing and promotional strategies to maximise profitability.
How do my brands react to price changes?
Understanding how your brands respond to price changes is crucial for maintaining a competitive edge. PEAK Promotions provides a granular view of brand dynamics during promotions. Identify which brands are most responsive to price changes and which ones are price-sensitive. Use these insights to tailor promotions that resonate with your target audience and drive brand loyalty.
When, where, what product and what price should my promotions be?
Deciding the right timing, location, product selection, and pricing for promotions can be daunting. Our solution offers data-driven recommendations on the optimal combination of these factors for each promotion. Elevate your promotional game by delivering the right offer to the right audience at the right time.
REAP ALL THE BENEFITS OF PROMOTIONAL ANALYTICS
Make data-driven decisions
Stop relying on gut feelings. Promotional Analytics empowers you with actionable insights, enabling you to make smarter decisions based on real-time data and historical trends.
Boost your ROI
No more blind spending on promotions with uncertain outcomes. You can identify the most effective strategies that yield higher returns on your marketing investment.
Gain a competitive advantage by better understanding reactions to pricing in order to optimise promotions and capitalise on opportunities.
Enhance customer satisfaction
By tailoring promotions to your customers’ preferences and behaviours, you’ll enhance customer satisfaction and foster lasting relationships that drive repeat business.
Ready to see it in action?
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