Planning a price promotion

All brands know that promotions can help increase their sales, but creating an effective promotion requires careful planning. You can run price promotions to help boost your sales in under-performing stores, drive trial of your products, and increase the number of repeat customers. Crisp's dashboards allow you to quickly pinpoint which products and stores would benefit from a price promotion and share your results with others. 

The following example demonstrates how to create a proposal for a price promotion of an under-performing product at low-velocity stores for a retailer. 

Steps:

1. To determine which product you may want to promote, select the Velocity dashboard for the retailer at which you want to run a promotion (e.g., Whole Foods). 
   
   
   
   
2. In the Units Per Store Per Week by Product table, select the product you want to target for promotion. In this case, we want to boost an under-performing product, so we will select the product with the lowest velocity. 
   
   Your dashboard filters for the selected product. The Units Per Store Per Week tile lists the velocity for the selected products. You may want to take note of this value to help you assess the success of your promotion once it's complete. 
   
   
3. Use the Units Per Store Per Week by State visualization to find and filter for the states you want to target for the promotion. In this case, we'll pick the 5 states with the lowest performance. (NM, NV, ID, AZ, UT). 
   
   
   In the Velocity details section, you now have a list of the lowest velocity stores for the selected product. The stores at the bottom of this list are the best to target for your promotion. 
   
   
4. If you want to download the store list to Excel and share it with others:
   • Select the ellipses to the right of the Velocity Details table, then select Download data.
     
   • From the window that appears, select Excel Spreadsheet, then select the Download button.
     
     The store list downloads to your desktop. 
     
     
5. If you want to save and share the entire report with others:

   • At the top-right corner of the screen, select Save view > Save as new view.
     
     

     The Save report window appears.

   • Enter a name for the report, then select an access level (e.g., Specific users). 
     
     
     
   • If you want to share the report with an existing user on your account, start typing the name or email address of the person with whom you want to share the report, then select their name from the list. If you want to share with a user not on your Crisp account, enter their email address. Repeat this process to share with additional users.
     
     
     
   • If you want, enter a message about the report, then select the Save button. 
     
     
     
     The report is saved and shared with the people you specified. You can share this report with a buyer to demonstrate how a promotion would perform well for these store/product combinations. You can also share this report with others within your organization, such as a replenishment coordinator who will ensure you have enough inventory on hand for the promotion or digital marketers or merchandising coordinators who may want to run digital campaigns or demos alongside the promotion.