How do I maximise the value for each promotion?

Promotions generate best value for grocery suppliers when they are planned and executed as part of a long-term promotional strategy; the strategy defines the goals and metrics for promotions in terms of brand building and value generation. Promotions are, however, an inevitable collaboration between retailer and supplier, and not every retailer will be willing to participate in every part of your promotional strategy, so you need to define promotional plans with your retailer customers to meet their needs too.

Ideally, this will be in the form of a long-term ‘joint business plan’ agreed between you and your retailer customer over a 12-36 month period. If so, you can plan a programme of promotions that meet joint needs and execute each to the outline below. If not, and you are only able to plan a short-term programme of events, you should still run promotions that contribute to your own promotional strategy and it’s equally important to follow best practice.

To learn about the 7 best practice steps across the 3 stages of a promotion please read the full article here.