Six Months of Profitable PromosFebruary 2, 2011 By: Ray V. Ford
Greetings!! Well, this is my first blog, and I must say that I’m happy for this opportunity to share with you from my experiences over the years as a club DJ, a manager, a consultant and as a dance club owner/operator. My focus will be centered on trends/events in music, DJs and nightclub promotion and operation. So, let’s get started….
Planning 1st Half 2011 Promotions To Increase Traffic & Make The Cash Register Ring
For 2011, I’d like to suggest that, instead of looking at each promotion you present as a single, stand alone event, you view that one event as part of a larger six-months plan for your business. And, it's important to understand how each one of those promotions fits into the overall "big picture" of your marketing scheme.
Therefore, it's very useful to view each promo as a single step in a series of activities designed to build sales vertically on a specific day. Mapping a six-month strategy allows you to see how individual promos fit together to positively influence the sales on a given day of the week. What we're suggesting: that you not only look at the calendar "horizontally"- Monday through Sunday - but also "vertically"....down through each day for 26 weeks.
What to do:
• Begin with a weekday that you identify as having potential to increase sales. For this exercise, let's pick Wednesdays.
• Establish a beginning goal. Let's assume, for this exercise, that over the past three months, the sales have been averaging $1,000 every Wednesday.
• Formula: Take the Wednesday sales for the 12-week period, total them and divide by 12 weeks.
• In the budgeting process, you established a sales goal for each Wednesday beginning with Week One on January 2. Based on the information above. Let's assume that goal was $1,000.
From there, you might set two simple goals:
A. Double sales on Wed. from $1,000 to $2,000 in 11 weeks (increase sales $100 each Wednesday over the previous week).
B. Maintain that $2,000 a week level through June 29th.
The fun part of this exercise is when you compute the additional sales over the $1,000 you were averaging before January 4. Here’s a quick look at how Wednesday sales results would look for the 26 week period, beginning on January 5 and running through June 29th:
Jan. 5 - $ 1,000 - week 1
Jan. 12 - $ 1,100 - week 2
Mar. 9 - $ 1,900 - week 10
Mar. 16 - $ 2,000 - week 11
Total Sales = $16,500 - 11 Consecutive Wednesdays
Between January 5 and March 16, you can produce an additional $5,500 in sales!! That’s a 65% increase over trend for Wednesdays in just 11 weeks! Add another $1,000 a week for the next 15 weeks for a total of $21,500 in additional revenue just from just one day - Wednesdays - over 6 months!
This systematic approach to building sales can produce amazing results if you plan in detail and cover all the bases.
That's where we come in. Here is our sample planner for the 1st half 2011. In this and upcoming months, we'll provide assistance in helping you to develop and work your plan, and achieve your goals. You can see the sales potential if you zero in on just 1 or 2 days. Then, with the right planning and preparation, you can make it happen!
The key here is to be organized, have a game plan. Promos are like little mini-stage productions: They need to be planned, budgeted, cast, rehearsed and directed. Just like in pro sports, each member of your team needs to know what his/her role is, what's expected of them. Ultimately, it's your team - your employees - who make the promo succeed and make the cash register ring!
On our Promotions Planner, you'll find our prototype 1st half 2011 six-month marketing plan. There are over 25 promo opportunities listed. Valentine's Day is on a Monday, so how will you take advantage of the most romantic day of the year? In March there’s St. Patrick’s Day, which is on a Thursday, and March Madness throughout the whole month. April presents a major opportunity for us with Administrative Professionals Week, April 24-30, and the list goes on. You might choose to use any or all of these promos in your plan and arrange them to play in the days that you feel will best suit your own needs, plus, add in a few of your own.
Here it is… our sample Six-Months Promotions Planner from January - June 2011 that will help get you started. You'll find it here at one of my resource websites.
Today's quote is from Carl Sandburg: "...Nothing happens unless first a dream." ... Keep on dreamin'....
'Til next time, I’d like to wish you good health & prosperity in 2011!