What’s motivating your latest sales campaign? Is it to genuinely build an audience of new long-term customers by serving them a deal that introduces your products or services? Or is it more about an attempt to increase your sales by a small margin over a very short span?
Have you noticed any advertisements for 10% OFF SALES lately. You can usually spot these ‘deals’ in newspaper ads. Or sometimes they are in coupon books. It doesn’t matter where you see them. They all tend to create the same perception from many consumers. Ten per cent off? Big deal. Actually, it’s a small deal. Unless you’re selling widgets that are $5,000. Then 10% off is a savings. About $500 worth. But if you’re offering a deal of 10% off a $9.99 restaurant meal, that’s a savings of 99 cents.
No matter how you slice them, most chintzy 10% OFF SALES promotions are selfish-oriented. It’s not about consumers. They are lucky to save two or three dollars. These sales are all about you.
There’s a reason that daily deal sites like Groupon are enjoying huge popularity. There are no 10% or 15% off coupons on these sites. You’ll only find 70%, 80% off, etc. That’s because Groupon is all about engaging consumers with great deals and driving them toward participating businesses. The whole intent is to attract new consumers with ridiculously massive price cuts and then hopefully retain these same consumers for the long term at your regular rates.
Groupon is simple marketing. Create a great deal. Generate community buzz. And then watch the consumer traffic come in.
It’s an approach that leaves the dull, overdone, chintzy, selfish and lame 10% OFF Sale dead in the dust.
Ten per cent off? Sorry, it’s just not exciting anymore for consumers. Ten per cent off is purely about business marketing . Period. Been there. Done that. Didn’t save consumers enough to leave anyone buzzing with excitement.
So, in the end, what have you really gained from a marketing and buzz perspective? Not much.