I get asked all the time to run ad campaigns on discounts. Sales and discounts are a part of every small business. It’s a good way to move inventory, create awareness, and drive traffic. Taking the time to present the value of your discount will greatly affect your overall success in your next campaign. Keep in mind the discount is not the campaign, just because you knocked a few dollars off does not mean people will come flocking. Half off of nothing special ends up being a joke that you could be on the receiving end of. It could end up costing you big losses in the customer trust arena.
What are you trying to accomplish?
Too much inventory, seasonal?
Awareness, drive traffic?
Next dive into the value of what you are offering. Just a discounted price is not enough, you need to bring the value to center stage.
Here are three points to consider.
2. Access to Exclusivity:
Example: Offer limited-time or seasonal discounts on premium products or services, early access to sales, or exclusive product bundles. This positions your brand as a provider of special experiences, strengthening customer loyalty and boosting perceived value.
3. Reward for Engagement:
Example: Implement a tiered loyalty program where discounts increase with purchase frequency or spending amount. Offer personalized discount codes based on past purchases or preferences. This shows customers you appreciate their business and encourages continued engagement.
4. Trying New Things:
Example: Offer introductory discounts on new product lines or services. Highlight customer testimonials or success stories showcasing the benefits of trying something new. This reduces risk perception and incentivizes exploration, expanding your customer base and driving sales.
By reframing discounts around these additional value points, you can move beyond the simple notion of saving money and highlight the deeper benefits they offer to customers. This creates a more nuanced and compelling narrative, enhancing brand perception and customer loyalty. I’ve been preaching value this year with the economy leveling out, add to that a difficult year with the lack of snow over the holidays. To avoid an even earlier end-of-season fire sale I would start offering some value-packed discounts now.
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