Discounts and Promotions Sales Booster

Given the objective to increase sales targeting millennials with a two-week "Buy one, get one free" promotion on the summer collection, here is your tailored promotions strategy:
Promotion Strategy

Preparation Phase (Week 1-2)
Product Selection: Ensure the summer collection has desirable products that resonate with millennials.
Stock Management: Adequately stock up on the products in the summer collection to avoid running out of inventory too quickly.
Budget Allocation: Allocate the budget with a split of 70% for social media marketing and 30% for email marketing.
Launch Phase (Week 3-4)
Creative Elements: Develop vibrant and energetic visuals that appeal to the millennial demographic. Incorporate youthful and summer-themed graphics.
Influencer Collaboration: Leverage your collaboration with a popular local influencer. Have them showcase products from the summer collection in a positive and relatable manner.
Promotion Period (Week 5-6)
Social Media Marketing: Utilize platforms popular with millennials, such as Instagram and TikTok. Create engaging posts, stories, and possibly short videos showcasing the summer collection.
Email Marketing: Develop a series of enticing emails to send out to your mailing list over the two weeks. Include vibrant visuals and direct links to the products on promotion.
Monitoring and Adjustments (Week 5-6)
Performance Monitoring: Continuously monitor the sales volume and customer engagement rate. Be prepared to make quick adjustments based on the feedback and responses you receive.
Stock Management: Be attentive to the stock levels and manage them actively to prevent stockouts and overstock situations.
Closure and Analysis (Week 7)
Feedback and Reviews: Encourage customers to leave reviews and feedback on their purchases.
Analysis: After the promotion ends, analyze the results based on the sales volume and customer engagement rate to understand the success of the promotion.
Special Terms
Exclusion: Make it clear in all promotional materials that the items on sale are excluded from the promotion.
Metrics
Success Metrics: The primary metrics to measure success would be sales volume and customer engagement rate.
By adhering to this strategy, you can aim to not only match the 20% increase in sales experienced in past promotions but strive to surpass it, capitalizing on the lessons learned and the influencer collaboration this time around. Ensure a positive, energetic, and vibrant approach in all promotional materials to resonate well with your target audience and achieve your business goals.