Ventura Associates PromotionOptimizer


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Ventura's PromotionOptimizer(sm)

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Ventura Associates PromotionOptimizer

  1. 1. Do you have a winning promotion program strategy? © Ventura Associates, Inc. 2009
  2. 2. Introducing PromotionOptimizer sm … PromoResearch Services from… Providing Winning Strategies… Quickly, Efficiently & Cost Effectively
  3. 3. So you think you have a great idea for your next promotion… <ul><li>We have questions: </li></ul><ul><ul><li>Will your target(s) respond to it? </li></ul></ul><ul><ul><li>Have you optimized it to drive maximum purchase intent? </li></ul></ul><ul><ul><li>Are the right processes in place to track and measure effectiveness? </li></ul></ul>
  4. 4. If you don’t have answers…. <ul><li>It’s time to take advantage of PromotionOptimizer sm from Ventura. </li></ul><ul><li>As a premiere sales promotion agency for over 37 years, Ventura has created an exciting menu of promotion research services to provide marketers and their agencies with the tools to maximize use of promotions. </li></ul><ul><li>Revenue building </li></ul>
  5. 5. PromotionOptimizer sm <ul><li>Ventura’s new offering includes the following menu of promotion and research services: </li></ul><ul><ul><li>Competitive promotion and situation analyses </li></ul></ul><ul><ul><li>Promotion planning </li></ul></ul><ul><ul><li>Concept/creative testing </li></ul></ul><ul><ul><li>Promotion optimization </li></ul></ul><ul><ul><li>Online promotion tracking and measurement </li></ul></ul>
  6. 6. Competitive Promotion and Situation Analyses
  7. 7. <ul><li>How do you know the idea is on-strategy? </li></ul><ul><li>Are you knowledgeable about what is being done in your industry? </li></ul><ul><li>Do you know what promotions your competitors are executing? </li></ul><ul><li>Are you aware of what the newest trends are in your category? </li></ul>You need a winning promotion idea
  8. 8. <ul><li>With Ventura Associates PromotionOptimizer sm , our Competitive Promotion and Situation Analysis can provide: </li></ul><ul><li>Business trends in your category </li></ul><ul><li>Promotions your key competitors are executing </li></ul><ul><li>Recent promotions in your category and against your target that have been both successful and unsuccessful </li></ul><ul><li>Existing promotional and business opportunities that you can leverage </li></ul>
  9. 9. Promotion Planning
  10. 10. <ul><li>Whom do you rely on to come up with a promotion plan? </li></ul><ul><li>Is the plan detailed, thorough and on-target? </li></ul><ul><li>Are the right processes in place to track and measure effectiveness? </li></ul>You need winning promotions
  11. 11. <ul><li>With Ventura Associates PromotionOptimizer sm , you will have the creative brainpower and expertise of a seasoned staff of marketing and promotion specialists to develop a strategically sound plan for you. </li></ul><ul><ul><li>Single promotion planning </li></ul></ul><ul><ul><li>Annual planning </li></ul></ul><ul><ul><li>Budget analysis </li></ul></ul><ul><ul><li>Evaluation metrics </li></ul></ul>
  12. 12. Concept/Creative Testing and Promotion Optimization
  13. 13. Testing Your Promotion Alternatives - Do The Experiment- <ul><li>Use design of experiments and regression analysis to create the test combinations </li></ul><ul><li>Each promotion concept combines different alternatives from the test categories </li></ul><ul><li>Respondents rate the full concepts on purchase appeal </li></ul><ul><li>Include a control to measure relative performance </li></ul>
  14. 14. The Sales Promotion Conundrum <ul><li>You want to drive purchase but don’t want to offer a bargain that is “too sweet” </li></ul><ul><ul><li>Is there a tipping point between the value of the offer and incremental purchase? </li></ul></ul><ul><ul><ul><li>What’s the minimum threshold? </li></ul></ul></ul><ul><ul><ul><li>When does it get too expensive to offer a specific promotion? </li></ul></ul></ul><ul><ul><li>Are there promotions that align better with a specific brand, retailer or distribution channel? </li></ul></ul>
  15. 15. Let your customers tell you which promotions turn them on <ul><li>A myriad of options exist: </li></ul><ul><ul><li>Contests / Sweepstakes / Games </li></ul></ul><ul><ul><ul><li>With an unlimited set of prize possibilities </li></ul></ul></ul><ul><ul><li>Coupons </li></ul></ul><ul><ul><li>Rebates </li></ul></ul><ul><ul><li>Gifts with Purchase </li></ul></ul><ul><ul><li>Price Deals </li></ul></ul><ul><ul><li>Loyalty Programs </li></ul></ul><ul><ul><li>Price-Packs </li></ul></ul>
  16. 16. Getting The Most Out Of Your Testing Program <ul><li>The Guiding Principle for promotions testing is: Testing More Is Better Than Testing A Few </li></ul><ul><li>Test different: </li></ul><ul><li>Promotion types (e.g., sweepstakes, instant win game or contest of skill) </li></ul><ul><li>Creative concepts </li></ul><ul><li>Themes and headlines </li></ul><ul><li>Prize options </li></ul><ul><li>Prize amounts </li></ul><ul><li>Reward levels </li></ul><ul><li>Frequencies of reward </li></ul><ul><li>Minimum reward thresholds </li></ul><ul><ul><li>Buy $20 of X and earn a $5 coupon for a future purchase </li></ul></ul><ul><ul><li>Buy $40 of X and earn a $15 coupon for a future purchase </li></ul></ul>
  17. 17. An Example Using A Sweepstakes
  18. 18. Getting The Most Out Of Your Sweepstakes Program <ul><li>You want to test: </li></ul><ul><ul><ul><li>The Concept </li></ul></ul></ul><ul><ul><ul><li>The Theme </li></ul></ul></ul><ul><ul><ul><li>The Reward </li></ul></ul></ul><ul><ul><ul><ul><li>Prize levels </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Choices at each level </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Frequency of winning the prize(s) </li></ul></ul></ul></ul><ul><ul><ul><li>The Creative </li></ul></ul></ul><ul><ul><ul><ul><li>Sweepstakes Name </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Advertising messages </li></ul></ul></ul></ul>
  19. 19. Getting The Most Out Of Your Sweepstakes Program “ Discover What Motivates Your Customers To Buy”
  20. 20. Optimizing the Prize Structure and Frequency* Note: Values represent ability to drive purchase appeal; positively or negatively Avoid Avoid Avoid Use Use Use Use * For illustrative purposes only; not real data
  21. 21. Optimizing the Creative Elements* Note: Values represent ability to drive purchase appeal; positively or negatively Avoid Avoid Use Use * For illustrative purposes only; not real data
  22. 22. Online Promotion Tracking & Measurement
  23. 23. You need to track, measure and evaluate your online promotion <ul><li>Provides you with solid recommendations from our team of experienced professionals to establish custom evaluation metrics based on promotion objectives </li></ul><ul><li>Employs a myriad of state-of-the-art “evaluative” criteria including for example: </li></ul><ul><ul><li>Specific clicks </li></ul></ul><ul><ul><li>Entry points </li></ul></ul><ul><ul><li>Time spent </li></ul></ul><ul><ul><li>Audience preferences </li></ul></ul><ul><ul><li>Activity by date/time </li></ul></ul><ul><ul><li>Flow through site </li></ul></ul><ul><li>Tracks, measures and evaluates your promotion against control/benchmark data </li></ul>Ventura Associates PromotionOptimizer sm :
  24. 24. About Ventura Associates <ul><li>Award winning top 100 marketing and promotions agency </li></ul><ul><li>38 years experience </li></ul><ul><li>Best of class service </li></ul>
  25. 25. Ventura Clients
  26. 26. For a winning promotion strategy… <ul><li>Ensure the success of your next promotion with help from Ventura Associates. </li></ul><ul><li>For more information, contact…. </li></ul><ul><li>Renee Azoulay </li></ul><ul><li>Vice President, Strategic Planning & Promotions </li></ul><ul><li>P: (212) 302-8277 ext. 3008 </li></ul><ul><li>E: </li></ul>