Since you’re reading this blog about a promotional calendar, let’s begin with an assumption: You know promotions work. You also know a well-planned promotional calendar will keep you ahead of your company’s budgeting cycle and keep incremental revenue coming in, even during traditionally slow periods.
Here's what you may not know: Reward-based promotions work better. In fact:
Where discount-based promotions bring in
a 7.3% increase in annual revenue YOY,
reward-based promotions bring in an 11.5% increase.*
That’s almost 60% more revenue. But that’s only one of the benefits of rewards. These promotions also drive more customer engagement, loyalty and satisfaction.
It All Starts With the Calendar
For some brands and retailers, a promotional calendar starts and stops with the winter holidays. But there are promotional opportunities all year long, which means these brands and retailers are missing out on dozens of opportunities to increase loyalty, drive sales, find additional revenue or accomplish almost any other business goal.
The Big Opportunities
Depending on your industry, your brand and your customers, these are typically the big promotional calendar opportunities (meaning consumers spend a lot of money during these periods):
- Valentine’s Day
- Mother’s Day
- Father’s Day and Graduation
- Black Friday and Cyber Monday
- Winter Holidays
Look at any holiday calendar, though, and you’ll find opportunities for your brand all throughout the year. Like:
- MLK Day
- St. Patrick’s Day
- Cinco de Mayo
- Independence Day
Of course, you don’t need an official holiday to run a promotion. Rewards can drive business any day of the year (more on this in future blogs).
Remember, reward-based promotions work better. So, gift cards—physical or digital or both—should be a big part of any promotional calendar.
What Your Promotions Can Do For You
Besides bringing in additional revenue throughout the year, promotions can accomplish very specific business objectives with very specific timing. Whatever your goals, the right promotion can help you make your year, month, week, day or, even, hour. Some of these business objectives include:
- Drive revenue during typically slow periods
- Drive traffic at specific times by setting redemption periods on gift card rewards
- Increase sales of specific products
- Bring in customers who haven’t been back recently
- Remind gift card recipients to come in and redeem
- Remind those who have gifted your brand before that it makes a great gift
How Can We Help You?
Your promotional calendar is an important part of your overall marketing plan and can make a huge difference in your annual bottom line. And the more you fill in that calendar with reward-based promotions, the better.
But you don’t have to do it all on your own. Wherever you are in your planning process, the experts at Blackhawk Network can help. For starters, download our free eBook, Promotions and the Power of Gift Cards.
See you in the next blog!
[*] Next-Generation Promotions Research, Aberdeen Group, March 2021