My wife would get coupons from her favorite mall-based department store with a list of exclusions and restrictions so long, I questioned what, if anything, the coupon could be used on. Right now, I can pay $5.49 for ONE 12-pack of soda, or $9.99 for three – Really!
There is a nationally based stand-alone department store chain who has sales so often, people now know to NEVER buy anything at regular price. A local furniture retailer is so kind, they will give you one, sometimes even two, dollars for each dollar you spend at their store.
It is nearly expected that businesses offer sales, discounts, special offers, promos, loyalty programs and more to their customers. When you decide which, if any, offers you would like your business to provide customers, be careful of the message your offer(s) will project.
Does it provide real value – Not to you, but to the customer? Does it incentivize the customer to act with urgency? Is the offer confusing? Does the offer devalue the product or service? Does the offer blur the true value of the product or service?
Special offers are as much of a brand identifier and builder as other forms of marketing. When developing special offers, determine what that offer needs to accomplish for your business (short sales burst, reduce overstock, etc.) Ensure it has value to customers and does not conflict with your business model or brand messaging. Step back, digest the offer, then ask yourself – Would YOU find this offer appealing? If the answer is ‘No,’ then you need to create a better offer.
Read. Learn. Laugh.
Random thoughts, comments & opinions.