Offers - The Most Effective and Overlooked Tool of Business Owners
10th December 2010
... Comments

Customers need a good reason to buy from a business, the quality of your product or service alone isn’t enough.  Offers and special promotions have to be in your marketing toolkit.  But for many small businesses, offers are nothing more than an afterthought.

However, many will be quite happy to spend money on brand advertising in the JEP, Channel 103 or the Yellow Pages. The problem for them is that ‘Brand advertising’ is over-rated so there’s absolutely no reason why a small business should run an ad just for “branding” (or ‘getting our name out there’ as it’s sometimes called).

If your business is spending money on branding you’re not spending it on what really matters: SELLING.

Make your marketing actionable! Instead, move your customers to take action: you need a hook, a pull, a motivation for the customer to buy. Use compelling offers with an incentive the buyer cares about and watch your responses increase.

It is of course important to know your market. If you’re selling conservatories at ten grand a pop then your customers won’t be motivated by a £15 voucher. The offer has to match the scale of what you’re selling – but it doesn’t have to be about money off.

People like ‘added value’ and often this type of offer provides the most effective results.

As an example let me tell about a great offer made by a Chinese Takeaway in the UK:

“Free Coke & Won-tons with every order over £30”

That offer is a thing of great marketing beauty. Here’s why:

The takeaway owner knew that her average customer spend was £27. The offer was designed to push up that average spend. The coke and won-tons cost her 65p. Not only did her average spend go up to almost £33 – a 22% increase, almost all of which was profit – but her volume of sales went up as well because people came to her Chinese Takeaway as opposed to the other two or three that they could have chosen in the area.

How to use offers and incentives

Easy ideas for offers include discounts off the next purchase, (to bring people back); a coupon for a complimentary product, and or entry into a high value draw.

If you want to make an impression, go high value - cheap options won’t get buyers’ attention and they don’t make you stand out

Don’t forget the focus of the offer is always to increase sales AND profit!

As part of our comprehensive mix of marketing strategies TheBestofJersey is pleased to offer our business members the opportunity to promote their offers at not cost. If you would like more information please email me at jersey@thebestof.co.uk.

Finally if a particular offer strategy worked particularly well for you would you be willing to share the details? Again please let me know.

More
About the Author

Kevin S

Member since: 9th July 2012

Hello and welcome to thebestof Jersey blog, I hope that both locals and visitors to the island will become involved. Please let us know about local businesses that go that extra mile and about things...

Popular Categories