How do I maximise my promotions/promotional spend?
John Wanamaker’s famous quote about advertising rings an uncomfortable bell for many CPG commercial directors:
“Half the money I spend on advertising is wasted; the trouble is I don’t know which half.”
Substitute “promotions” for “advertising” and you’ve just described the dilemma faced by most CPGs as they allocate budget to programmes that invest across brands, customers and channels to increase shopper purchase of their products.
“Half the money I spend on promotions is wasted; the trouble is I don’t know which half.”
From our work with hundreds of CPGs over the past twenty years, we have identified the seven key behaviours of the most successful revenue growth management principles that define best practices and direct promotional spending to those brands, customers, and events that generate the greatest return.
- Set goals
- Understand past performance
- Identify what works
- Experimental mindset
- Execute in partnership
- Review and challenge claims
- Plan strategically
Please read our full article here to learn more about these seven behaviours.
