Step Seven: Conduct a Risk Assessment

Before launching your sales promotion, it’s important to conduct a risk assessment to identify potential challenges that may arise. This can help you to develop a plan to mitigate or manage these risks, ensuring the success of your promotion.

Here are some factors to consider during your risk assessment:

  • Market and economic landscape: Consider any external factors that may affect the success of your promotion, such as changes in the market or economic landscape. Stay up to date with trends and your competition to ensure that your promotion is relevant and competitive.
  • Competitors: Analyze the recent activities of your competitors to gain insights into how the market has responded to their promotions. This can help you to identify potential risks and opportunities for your own promotion.

Enhance Campaigns with Our Sales Promotion Workbook

A 10-step guide for sales promotion planning, from goal-setting to post-campaign evaluation.

Sales Promotion Planning Template Document Cover Page
cta block decor
cta block decor
  • Lead times and resources: Assess your lead times and resources required to execute your promotion. Consider any potential bottlenecks or delays that may impact the successful launch of your promotion.
  • Packaging and logistics: Ensure that all products, materials, and prizes are available and can be shipped in a timely and cost-effective manner. Consider any potential logistical challenges, such as shipping delays or customs clearance, and develop contingency plans to manage them.
  • Legal and compliance: Ensure that your promotion complies with all applicable laws and regulations, including data protection and privacy laws. Develop proper terms and conditions for your promotion and ensure that your team is aware of all legal implications.