Companies spend significant amounts of money and time on promotions their brands and services with the purpose to raise revenue and increase market share. The goal of promotion software is to help companies in managing their complex trade promotion activity.
1. Sales forecasting – estimating future sales. Based on past sales data, economic trends, industry-wide comparisons, and other factors that might influence the customer buying decision, sales forecasting helps companies to make informed business decisions and predict short-term and long-term actions.
2. Promotion planning – optimizing the use of marketing tools, strategies, resources to promote goods and services with the purpose to generate demand for them and meet the set objectives.
3. Promotion budgeting – defining a specified amount of money to cover the anticipated costs spending on promoting the company's products or services with the purpose of business growth and maintaining the brand name.
4. Promotion optimization – generating the best calendars of promotional activities based on identified limitations.
5. Promotion monitoring – tracking how much every promotion improves the goods/services and related items/services sales, and how much offered discounts are affecting business profitability.
6. Predictive modeling – simulation different situations when one or more marketing levers are changed and evaluate the predicted impact of that change.
7. Reporting – generating reports focused on measuring performance for promotional efforts:
8. Post-event analysis – analyzing events that have already happened and asking fundamental questions about the future:
9. Integration with third-party software – creating a powerful software system with a single database.