Data Analysis for promotional strategies

Nowadays, in the market you can find a large variety of stuff which you want to buy. At the same time, competition between different shops and brands has increased so much that every retailer out there is in efforts of finding ways to bring the maximum traffic in. This is done by devising new promotions, marketing strategies and providing more sales offers like “buy 2 get one free”, “get 50% discount on every product” and many more, we all are familiar with. This trend in general is referred to as promotional measures, which largely depends on Data analysis. So, data analysis training seems a good idea.

Data evaluation is generally a first-class scheme for promotion of certain products. Analysis methods are generally adopted to uphold retailing of the goods. Promotion of such types of schemes is the most effective idea for promoting a store’s sale. Promoting offers regarding the ongoing events makes the retailer more like a magnet, trying to pull public’s interest towards him. People want quality and quantity at the same time. With the increased economic pressure, you want to buy products at cheap rates. For this purpose training is adopted, which would help study the different patterns of sales and income and the outcomes may further be employed in improvising new client/retailer friendly strategies. Schemes like “buy one get one free”, “free sample for new products” and “Sundays specials”etc; all seek public’s attention. Moreover, displaying Products, which depict the ongoing seasons, is also a good method of increasing the rate of sale.

Marketing promotional strategies have also taken pace through mobile phones, which are often found buzzing with messages about product advertisements. This is one of the effective Data Analysis methods used for spreading the product’s concept to far off places. Data collection training makes us to fully utilize the benefits of online advertisements. One of the most commonly used promotions is the ‘Free delivery’ offer which benefits the common man a lot. This is also done through ‘Free shipping’ schemes that do not charge the consumer at all.

The most frequently used tactic in the training from Octopus.im is the discount on price. As I said earlier in the article, that people want quality at cheap rates. So, reducing the rates somehow proves beneficial to a shop as more and more people buy from the shop and the loss of price reduction is not only overcome but even surpassed by the income level. Some of the promotional means of reducing price are:
· Discount on membership.
· Percents off on certain products.
· Launch of new and less expensive products.

What retailers must realize is that mere sales are not important. But they need to make a statistical study of the sales of a year or a month as required. This statistical study helps them in data analysis for that certain time, which includes the amount of sale, costumer’s response and the atmosphere in the shop. Such data analysis methods are really helpful in the data analysis and can actually increase the gross income ultimately. Visit www.octopus.im for more information.