Wednesday, July 3, 2013 at 3:05PM
Product promotions continue to be a relevant tool to engage customers and drive sales. Below is an excerpt from a recent article in Loyalty360.org that shares our experience of serving leading companies with our cloud-based product offer management platform. Here are four areas where we are working with our clients to re-think the delivery and fulfillment product promotions to enhance customer engagement:
1. Use product offers to help customers make or validate purchase decisions.
Some purchase decisions are easy, others require research. If an offer also conveys specific information about a product feature or attribute, it can help consumers make decisions more efficiently. An example is rebate savings offers for energy efficient appliance models. When standing in the store comparing two refrigerator models, a rebate savings offer of $100 for the higher efficiency model can be the deciding factor. Our clients recognize the value of providing these validating offers to customers, as measured by the incremental sales lift.
2. Present aggregated offers to become a trusted source of offer inventory.
Remember the consumer who is navigating the digital jungle of retail information? Retailers can minimize that legwork for customers by presenting them with a collection of applicable offers. Imagine a shopper evaluating a product and being presented with product offers from the retailer, the brand, and even another third party such as a financial institution. That customer now feels that he is getting not just the savings, but the value of having all offers presented together in one easy format. He feels more confident that he does not need to go elsewhere for a better deal. Our clients have used these bundled offers effectively for new product introductions as well as to highlight seasonal promotions.
3. Make offers available online, in-store and on mobile platforms.
There should be no doubt that mobile use is drastically altering the retail landscape. The growth of mobile use for shopping is significant. A recent article in Mobile Commerce Daily stated that 29 percent of retailers now see more than 20 percent of their traffic coming from mobile devices, up from just 3 percent a year ago. Consumers crave consistency as they navigate across channels more often. Providing access to the same offers no matter whether on ecommerce sites, through mobile tools or in stores creates a higher likelihood of intersecting the consumer when she is ready to make a decision and ultimately builds a deeper brand engagement.
4. Make it drop-dead easy to take advantage of the offer – make fulfillment instant.
This may seem obvious, but it is surprising how often an offer is presented in a way that makes it inconvenient or impractical for a customer to redeem. Given the spiraling complexity of the shopping experience, consumers appreciate simplicity. Many of our clients are recognizing that desire and implementing instant offer fulfillment. The process of finding an offer and receiving the savings instantly becomes as simple as purchasing the item, no matter whether online or in store. Gone is the hassle with coupons or claim forms and in its place, customer appreciation.