We have recently seen a few businesses offering ‘incentives’ to encourage people to make purchases by the end of the month. These ‘incentives’ don’t fit with their brand, or industry and beg the question whether they are adding value for the client, or just being used as a last minute ‘gimmicky’ tool driven by the sales team to gain quick wins.
Marketing campaigns need to be SMART and well thought out. We know all businesses run on sales and in order to succeed you need to hit and surpass targets. We highly recommend you use marketing campaigns and incentives, but make sure your campaigns are considered and not a last minute attempt to convert your pipeline. Customers are not stupid and by marketing gimmicky incentives which aren’t cohesive with your brand, you run the risk of making potential clients question whether they are actually getting a better deal, or if you are hiding the cost of the incentive in the sale price.
Think about your market and what has worked previously. What marketing campaigns have you run that have been effective and why were they effective? What have you done that hasn’t worked? Is this your first campaign? If you are trialling ideas, remember everyone loves a bargain and incentives are a great way to encourage people to buy, but it is important to keep them in line with your brand and ensure they add value. Is there an opportunity to up-sell, buy this and get this for half price? Can you partner with a complimentary business and offer an introductory price for their product or service which will benefit both of you, plus the customer and build brand recognition? Can you run a prize draw campaign which will gain momentum and add some fun to the campaign? Can you offer a discounted price rather than a complimentary product?
Also, think about seasonal trends – know your quieter and busier periods and play to that. There is little point running a campaign in July if it is your busiest month and you won’t be able to cope with demand.
We are all busy and it is hard to find the time but try to plan ahead and be pro-active. The better thought out your marketing campaigns, the more chance of success you have. If October is going to be your quietest month, plan an offer part way through September so come the end of the month you are ready to go. If you offer a last minute incentive half way through the month because you are struggling with sales and it hasn’t been well thought through, it could scream of desperate times and devalue your brand, putting people off.
Always remember to ask yourself, if you were the customer, would your incentive make you buy earlier than you had planned?