Implement sales promotions
Overview
This standard is about implementing sales promotions. Sales promotions provide the sales team with a valuable additional tool to extend their sales efforts. The standard covers the establishment of sales promotion objectives for the organisation's products and services and identifying the most beneficial sales promotion techniques to attract customers. This standard is for sales professionals who implement sales promotions at tactical level.
Performance criteria
You must be able to:
1. identify sales promotions objectives in accordance with the organisation's sales strategy
2. identify customer groups to be targeted with the sales promotion
3. finalise the sales promotion incentives and response mechanisms
4. identify the resources required to implement the sales promotion strategy to exploit selling opportunities
5. organise the roll-out of the sales promotion
6. specify sales performance indicators for the sales promotion activities in order to monitor and evaluate the promotion strategy success
7. identify and make relevant adjustments for improvement of the sales promotions during roll-out
8. monitor and evaluate the performance of sales promotion activities
9. review sales promotion campaigns to inform future promotions
Knowledge and Understanding
You need to know and understand:
1. the current legal, regulatory and ethical requirements in relation to sales promotions
2. your organisation's market and professional sector
3. your organisation's existing and potential customer base
4. your organisation's existing and potential competitors, partners and the key features of their buying strategies
5. the real and perceived needs of different customer groups
6. the mechanisms for implementing sales promotion campaigns
7. the impact of sales promotions in incentivising future and current customers
8. how sales promotions influence a salesperson’s behaviours and activities
9. how to set performance objectives
10. how to integrate sales promotion efforts with sales activities
11. the sources of information to support monitoring and evaluation of sales promotions
12. how to develop measures and methods for monitoring and evaluating performance of sales promotions