Managing business promotion can become a challenge for packaged or fast-moving consumer goods companies such as food and beverage companies. One of the issues that most concerns brand managers, and even marketing managers, is the ROI of promotional strategies because they understand that if it is not good, they would be losing money.
In order to effectively manage a promotional strategy, you must measure the ROI (return on investment). This metric allows you to analyze the relationship between the money invested and the money obtained after a specific action. And you must consider that the important thing is not only the increase in sales, but also that they are higher than the cost invested.
Calculate ROI in real-time with Price Point
Price Point is an integrated tool that allows you to plan, execute and measure the ROI of your promotional strategy. Having a promotion management platform like this one is essential for any company, as it allows you to gather accurate information to make better decisions.
With this tool you can calculate the ROI of promotional strategies in real-time. This way you will be able to know if your promotional strategy is being really effective, comparing the investment with the benefits obtained. This indicator will also help you to later compare different promotional campaigns and determine the key elements of each one.
By optimizing your promotions with Price Point, you will be able to take real advantage of this strategy. In addition to calculating ROI in real-time, this platform also allows you to:
- Automate business agreements.
- Have complete visibility of promotions across the company.
- Eliminate or reduce data entry errors.
- Avoid complications with the use of Excel
Measuring the ROI of promotional strategies is of great importance to know if they are working. However, it is also key that you know how to plan and carry out a successful promotion. To do so, we recommend that you initially draw up clear objectives, define the target audience, train the sales team and choose the media and message
Once you have this ready, you can create your promotional strategy and when it is in place you should evaluate the results through the ROI. This way you will be able to know what is working and what is not in order to make changes if necessary. At Fusionworks we can help you implement Price Point as a solution to optimize your business promotions. Contact us!