It continues to surprise me that many brands are failing to use the vast amount of consumer data that is gathered during the course of a sales promotion.
Much of that data sits unused and wasted, with the irony being that a large number of brands then go on to spend vast amounts on acquiring exactly that type of data for CRM activity.
In terms of giving brands precise insight into who is interested in, and buying, their products, promotional data is way ahead of that gathered by social media channels. But the problem is that too many brands take a short-term view of promotions and focus solely on the sales figures that result, when a longer-term strategic focus would allow them to cross-sell, upsell and encourage loyalty.
Graham Howarth Director, sales promotion, P&MM