According to Stephen Beattie, marketing director of Pyrotec, brands and supermarkets are looking for ways to differentiate themselves on variables other than price, as pure discounting can be a slippery slope, where consumers come to expect it and, in the long term, it fuels their desire to solely buy on price.
Moreover, consumers certainly aren't tired of promotions - they still love anything that is free, or discounted, or just comes with added value. So marketers should be bold, brave and creative and make sure they differentiate themselves from competitors.
A well-run promotional campaign has huge benefits: it engages the consumer and captures valuable consumer data; it develops and builds on the brand proposition while still preserving profit margins; and it provides a real point of difference between a brand and its competitors. And for those promotions that really get it right, the added value provided by positive PR and social media buzz can boost the impact of a promotional campaign hugely.
Merchandise-based promotions are among the most powerful and effective of the types of promotion available and have improved significantly in quality as consumers have grown more discerning. Marketers are investing more time and money in this type of promotion to ensure they have longevity and are remembered long after the campaign has ended.
This type of promotion offers value, competitive marketing and consumer satisfaction, making merchandise-based promotions an increasingly important factor in promoting consumer goods. The concept has really evolved over the past few years, and marketers looking for competitive advantage will ignore or underestimate this type of promotion at their own peril.
Pyrotec is a leading privately-owned South African company specialising in innovative and top quality product identification solutions.
