Increase sales during Back-to-school
For many companies the back-to-school campaign is critical for the annual balance. And not only school supplies brands benefit from this consumist parenthesis: FMCG, fashion, automobiles, electronic devices, etc. will see if they succeed with their marketing strategies, determining whether it will be a good year or not.
Although the economic situation seems to be improving in Europe, many companies are still focused on offering discounts during this campaign. It is normal to go down this road if we consider that families are coming back from holidays after having spent so much, and many of the September decisions are driven by prices. However, these discounts are not easy to take over for many businesses for two reasons: they punish the already constrained margins and come after two/three months of very low activity.
How then do we increase sales without decreasing prices? The answer to this question is always the same. offering added value to our products, turning price a minor factor. The real problem comes when we have to decide how to be different and add value.
To achieve effective uniqueness we must have a clear definition of our target. An adult will consider aspects related to status and quality that younger targets are not interested in. On the other hand, children do value the possibility to interact with the product and how it is related to their models, such as sportsmen/women, cartoons, etc. To achieve a successful back-to-school campaign we need to understand that a mother will appreciate more a medication if it includes a rule to measure her growing children, because for her that pharmaceutical company has a compromise with her family that goes further than the economical exchange.
We tend to think that prmotional premiums are a cost that will translate into higher prices or lower margins. But if we offer the right stimulus the growing sales will cover the cost of the promo and increase profit. Premiums offer benefits that discounts can't, such as loyalty and repurchasing, and help to strengthen values like quality and safety.
Here at Grifoll we are open and producing in August for we understand how important the Back-to-School campaign is for many of our clients. Not only because of school, but September is also the time to go back from holidays and back to the office, and in this general state of depression a small detail from our favourite brand can make the difference.
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