How to Increase the Effectiveness of the Offline Promotion Program with Data Analytics?
With business becoming increasingly competitive, the company hopes that promotional programs and other offers can generate higher demand. Promotion programs have proven to be a powerful strategy in increasing sales. However, for most companies, implementing an effective promotional program remains a major challenge. This is where Promotion Data Analytics comes into play.
Measuring the Success of Promotional Programs
The success of a promotional program does not always depend entirely on how many transactions occur when the promotion takes place. There are many other factors that must be analyzed more deeply to determine ROI.
- How many transactions were made because they were pushed because of a promotion? If there’s no promotion, how many products will be sold anyway?
- How much impact will the product being promoted have on other products that the company sells that are not discounted? Can the promotion of a product increase the sales of your other products?
- How much profit will you get when you take sales from competitors’ products?
- In which area of distribution are the promotions used most often?
What is Promotion Data Analytics used for?
In fact, some promotions can have more negative effects in the long run than positive ones. Therefore, companies must always monitor and analyze promotional programs in order to avoid this.
Promotion Data Analytics allows companies to analyze promotions more effectively and determine which factors are most contributing to the effectiveness of the promotion (or lack thereof).
Promotion Data Analytics Module in Advotics DMS
The Data Analytics feature can monitor and analyze promotional program applications that have been made by principals and distributors to their customers. The advantages of Advotics system from other manual systems are:
- Automation of data input that can produce more accurate analysis results
- Allows comparison of various promotions and find out which promotion has the best to worst performance
- Promotion analysis can be done as often as possible, per year, per quarter, or even per month, without requiring additional resources
- Promotion program analysis data can be viewed in one system which is integrated in real-time to all company devices:
- Customer data using promotions
- Number of transactions
- Sales value
- Discount or gift subsidy fees, etc.