Amazon bolsters Prime with try-before-you-buy fashion http://ift.tt/2soAcmE (£)
Big name premium brand and product demonstrators in brick and mortar locations are expected to drive traffic into the impulse buy mode. Print and online promotions target existing customers, and attempt to lure new ones. This type of advertising has been a consistent factor in marketing in the past in the United Kingdom.
Marketers may be focused on figuring out how the experience of encountering a product demonstrator in an in-store promotion event be duplicated online. Are there better ways to promote online? Will a coffee machine demo work in a huge discount store? Does it matter? Online stores rely on low overhead and, as discount stores do, rely on cheaper prices.
Do in-store promotions have to a) be limited to actual brick and mortar stores? and b) do they have to be a hands on experience? Sure, being able to touch and feel products may appeal to the consumer, but the growth in online shopping proves that convenience and price are compelling factors too.
Aha, you say. There must be clever ways to combine an in-store plan with the flexibility of the internet. Before you rush off to your tech department with a great idea they can transform into an online equivalent, let me tell you something valuable about the value of such a promotion: It may not be worth the effort. I’m Phillip Adcock and I’ve researched more than 150 psychological insights that can affect a promotion’s performance.
Here is one hint that might surprise you: every extra syllable of a price reduces the likelihood it will be remembered. A nice round number such as £9.00 is more memorable than a cutesy £20.17.
How about this? Special offers with restrictions (for example, an offer limited to two per customer) are more appealing than an offer without restrictions.
These may seem counter-intuitive, but this is how shoppers shop. Rather than focus on new and appealing ways to bridge the in-store/online or grocery store/discount store differences, your best bet is to talk to me about the best way to approach in-store attention getting. My ability to know the psychological triggers that allow consumers to see what they see when they shop, can save you from money-losing decisions.
Shoppers do not always see what is on the sales promotion you think is eye-catching. They more often than not see the complete opposite to what you think the sign said.
Quick. Here’s a test. Comparing store promotions examples where the price on the product is £39, £34, and £44, which price had the most appeal? I bet you guessed £34.
If you did, you would be wrong.
It was the £39 price tag. It attracted 23% more shoppers. They just prefer prices that end in 9. Go figure.
Investment in consumer psychological awareness improves the effectiveness of your marketing strategy, and gives you an advantage. I encourage you to use your advertising budget wisely.
I’m Phillip Adcock, a leading authority on shopper behaviour. For further information on instore promotions and how this information can improve your business, contact me on: 07960 109 876 or email: firstname.lastname@example.org.