Wednesday, November 13, 2024

Did you work the numbers?


Thinking about running a promotion, a discount, or a contest is pretty exciting, right? But hold up—before jumping in, have you crunched the numbers yet?
 
Let's break it down:
- What's your objective? Why are you doing this promotion?
- How much are you willing and able to spend?
- What results do you expect to achieve?
- Is there a realistic participation rate you're aiming for?
 
At first, it might seem like all this planning is just for big corporations. But it’s relevant for everyone—from the corner shop owner to big brands. Just take a look around your local hypermarket or go into a 7-11. There are contests offering prizes so insignificant that they barely motivate anyone to enter.
 
The irony? Sometimes, the cost of printing those entry forms is more than the actual prize value.
 
The takeaway is clear. If you’re going to run a promotion or contest, make it worth your audience's while. Think about what will truly engage your customers. It should feel beneficial to them, not like jumping through hoops for something trivial.
 
Sure, it's tempting to just put something out there to get your brand seen. But if it's not thoughtful, it won't create the buzz you want. It might even backfire.
 
So next time you're planning, remember: run the numbers, set clear goals, and create something genuinely valuable. That’s when your promotions will shine, making a real impact on your audience.
 
How good is your math? 

Let us help. Call us now at +60378901079 or visit us at roar-point.com

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