Offers, if designed properly, are a useful tool to increase sales, develop the customer base and reward loyal customers of a company, which subsequently contributes to the strengthening of the company's brand awareness.
Most often, a company's offers take the form of discounts or benefits from combined purchases of two or more products/services. Some businesses choose to offer coupons as a "promise of a discount" for a subsequent purchase and others offer a gift to accompany the product or service purchased by the customer. In each case, they must serve a specific purpose for the business that chooses the "cost of one option over another". Offers are not made just for the sake of it and therefore must be both budgeted and planned, but also evaluated (once completed) in terms of their quantitative and qualitative results (e.g. the increase in customer loyalty or the degree of satisfaction expressed by customers).
It is quite often observed that businesses themselves are not satisfied with the results of a period of offers (and/or discounts) or with a particular offer. This not only does not bring the desired benefits but often comes with unwanted costs or even harms the relationship with the company's customers.
But how can businesses know which is the safest way to design and implement successful offers?
By following the list below of 7 steps, or better, rules when planning and implementing a bidding initiative, they can know they are on the right track:
- The offer must be visibly beneficial to the customer. It should be something that the customer needs and knows that he needs it or at least, it is relatively easy to understand from the presentation/description of the offer.
- A successful offer, it is timely. Offering a discounted beach umbrella or a gift of a sunbed mattress in December is not expected to have impressive results.
- Have a clear advantage over non-supply. Give the customer a clear reason to decide in his/her favour and choose the offer now because it is in his/her interest.
- An offer has value when it is subject to a time limit. A discount that runs all year round does not have the characteristics that would drive a customer to buy. Real offers, precisely because they have a real 'cost' (or at least a reduced profit) for the business itself, are good to have a specific duration.
- Be a safe choice for the customer. Because a safe choice for the customer is a safe choice for maintaining the company's brand name and market position. Often businesses choose to "unload" stock of products that are of dubious quality, defective or do not meet the customer's basic specifications or requirements. In the battle to maintain a high level of customer experience against the competition that is everywhere, there is no room for the excuse of "low price, discount or even gift". Especially in times of recession, when every euro - if not every minute - counts. A disappointed customer, who procured a defective product or a low-quality service, is a loss for the company, even if they never inform the company of their dissatisfaction. They say it is "better to have to justify once for an expensive product (or service) than to have to justify a lifetime for poor quality" (whatever that means).
- A successful offer that complies with the above is in fact completed when accompanied by an easy order or purchase process. Especially when it comes to an online marketplace where competition is "one click away", the procedures for accessing the offer and completing the purchase must be direct, clear and complete. Imagine arriving at the checkout counter of a store where you have decided to buy the drone your 10-year-old godson saw on the poster and finding out that those particular toys are sold out.
- Finally, we left the most important : a successful bid, to be successful, must be "seen". How will someone who doesn't know her choose her? Someone who is not informed. Who has never reached his ears or seen with his own eyes. As long as that person meets the basic characteristics of "ideal customer" : needs the item offered NOW and can afford to buy it.
If you are concerned about how you can design and implement not only successful offers, but a successful business strategy that will allow your business to grow in difficult times, then contact us directly.
English (UK)