As the Head of Marketing and Corporate Affairs at a major Ghanaian bank like Ecobank Ghana, with over 20 years in the sector, I would structure the sales promotion plan report to align with practical banking strategies, ensuring compliance with Bank of Ghana (BoG) directives on consumer protection and fair marketing practices under the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930). The plan focuses on mobilizing low-cost deposits (e.g., savings and current accounts) to fund lending during the high-demand Christmas period, drawing from successful campaigns like those during the 2022-2024 post-DDEP recovery phase where banks emphasized digital incentives to rebuild liquidity.

Executive Summary
This report outlines a comprehensive sales promotion plan to mobilize GH¢500 million in cheap deposits over a 3-month period (October-December 2022), targeting existing and new customers. The campaign leverages festive themes, digital channels, and incentives to boost deposit inflows, supporting on-lending for customer goods demand. Expected ROI: 15% through interest margins, with full compliance to BoG’s Consumer Recourse Mechanism Directive.

Objectives

• Increase deposit base by 20% in low-cost accounts (savings/current).
• Enhance customer loyalty and acquisition amid competitive pressures from fintechs like MTN MoMo.
• Ensure ethical promotion per BoG’s Corporate Governance Directive 2018, avoiding misleading claims.

Target Audience

• Existing retail customers (personal and small businesses) with festive spending needs.
• New prospects in urban areas like Accra and Kumasi, segmented by socio-economic groups (e.g., middle-income earners via PEST analysis at local levels).
• Focus on digital-savvy youth and SMEs facing post-COVID liquidity challenges.

Promotional Mix and Tactics
The plan integrates sales promotion with other elements like advertising and direct mail, inspired by successful Ghanaian bank campaigns (e.g., GCB Bank’s festive savings drives).

• Incentives and Offers (Core Sales Promotion Tools):
  • Cashback rewards: 1-2% on deposits above GH¢5,000, capped at GH¢200, redeemable via mobile app.
  • Raffle draws: Weekly draws for prizes (e.g., smartphones, shopping vouchers) for new depositors, compliant with BoG lottery regulations.
  • Bonus interest: Tiered rates (e.g., +0.5% on savings for 3-month lock-ins), aligning with BoG’s interest rate disclosure rules.
• Channels for Delivery:
  • Branch-based: Festive-themed merchandising in outlets, with staff cross-selling during interactions.
  • Digital: SMS/email blasts and social media ads (e.g., Facebook targeting Ghanaian users), integrated with mobile banking apps for seamless deposits.
  • Partnerships: Collaborate with retail chains like Melcom for co-branded promotions, increasing accessibility.
• Timeline:
  • Pre-launch (October): Teaser ads and staff training.
  • Peak (November-December): Full rollout with events like pop-up deposit booths at Christmas markets.
  • Post-campaign: Evaluation and follow-up offers.

Budget

• Total: GH¢2 million (40% digital ads, 30% incentives, 20% events, 10% monitoring).
• Funding from marketing allocation, with ROI tracked via deposit growth metrics.

Implementation and Monitoring

• Team: Cross-functional (marketing, retail, compliance) led by me, with weekly reviews.
• Metrics: Track via CRM systems – new accounts opened, deposit volumes, customer feedback surveys.
• Risks: Mitigate overcrowding in branches per BoG’s operational risk guidelines; ensure data privacy under Cyber and Information Security Directive 2020.

Recommendations
Approve the plan for immediate rollout to capitalize on festive demand, positioning the bank as a reliable partner in Ghana’s recovering economy post-2017-2019 cleanup.