Why it’s time for brands to adopt a more scientific approach to promotional spend

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By reducing the amount brands spend on their promotional marketing prize fund and freeing up significant budget, they can spend it more effectively elsewhere while causing no harm to the success of sales promotion or brand.

Brands have been creating promotional campaigns without proper insight into what does and doesn’t affect a consumer's decision to pick up a promotional pack. We had a theory that brands have potentially wasted huge amounts of budget as a result.

With this theory in mind, we conducted research to uncover how to optimise the value of promotional prize funds by analysing consumer behaviour trends and working with a behavioural psychologist.

Our research has not only allowed us to dismantle some long-held assumptions but has also revealed how to optimise prize fund scenarios in relation to any given budget, providing what we believe to be the first in-depth assessment of the psychological tipping point for promotions.

To read the full article, click here!



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