COVID-19 restrictions are being lifted, restaurants, cafes, pubs, travel etc. are open now, and soon the footy will come back in our lives again. To restart business many of my clients are launching campaigns or bootstrapping on someone else promotions.
This is easy to do as our software has many tools to help you to do promotional campaigns.
Every campaign needs to be measured.
This does not mean only looking at the sale of the promoted product. What you need to do is look at a campaign by analysing the total sales during the promotion. The targeted product was the enticement; what you often need to assess is the extra products that were not part of the promotion.
Now what you need is to compare these sales to some appropriate benchmark figure (budget), which is now a bit difficult to determine. Commonly used here is last year this time, plus or minus a suitable percent for your shop. Make sure that you determine this benchmark before, you do the comparisons.
Some KPIs, I would be looking at would be
#1 Sales Revenue
#2 Number of sales
#3 Basket value
#4 Gross Margins
All these come out of your software.
If you are not able to measure the results, you’ll never know how effective your promotion was, and most importantly, you will not know what works in your shop.