Posts Tagged ‘ Vanessa Ezeta ’

Biting the Bait – Making Promotions Work For You

Promotions. Offers. Incentives. Why do they work? Why do consumers buy into them? The most vital and critical piece to any promotion lies in thinking like the consumer, which companies may forget when launching a promotion. We recommend putting yourself in their shoes. Familiarize yourself with their fears, their skepticism and their doubts. Listed below are key points to follow when rolling out your promotion.

The offer must appeal to target audience. Some companies find that reaching a specific target audience, such as children, creates a challenge. Motivating kids to fundraise for their schools can be a cumbersome task for a hard-to-please audience. Would one offer them rebates that take six to eight weeks to receive? Or would one offer them a class pizza party? You can determine which one will achieve results based on the context of the promotion, the willingness of the children to participate and their perceived value.

High perceived value. A consumer’s perception is their reality. The product offered has to have value in the consumer’s mind, and be an offer they usually would not go out of their way to buy. When offering a product it’s not necessary to give away a Ferrari of the year, instead give away a car that has the same perceived value as a Ferrari, but in reality only costs $20,000. Scale your giveaways to your budget but keep consumers’ perception of products mind. Presentation of that product helps as well.

Immediate satisfaction. We are a microwave society. Today, people expect to be satisfied immediately. If your offer has a delayed satisfaction for your consumer, it may not be successful. Mail-in rebates that companies offer are a prime example, and can lead to lower consumer participation. Think about when you’re surfing the web, and how long do you wait for a websites to download…15-20 seconds? You take the risk of losing a consumer the moment they have to wait.

Keep the process simple. If consumers see a complex web of tasks and processes needed to participate in promotion, they may walk away. People, for the most part, expect companies who offer incentives to make them as easy as possible to obtain. If the amount of work it takes to get an offer overshadows the perceived value, then the probability of getting consumers to act diminishes and vice versa.

Be honest. Do not be ambiguous when it comes to the messaging. Be upfront – tell them what they are going to get and how they are going to get it. The fine print, also known as disclaimers, may scare people away. When the list is never ending, consumers may not act on the offer. In the end, honesty and being upfront is appreciated.

Be legal. Make sure that you follow all state guidelines when launching a promotion or sweepstakes. The rules can vary by state but as a rule of thumb, remember; you cannot make a consumer buy your product or service to be eligible to enter to win a prize – that’s a lottery and illegal in most states. You have to provide the consumer a free way to enter the promotion with the same opportunity of chance. This does not apply to a gift with purchase, where everyone is awarded a prize. See the state of Florida’s guidelines here:

Remember, it’s not about what you sell; it’s how you sell it.

Sponsorships – One Size Doesn’t Fit All

Sponsorships are an easy, friendly way to expand brand awareness among the local community. And there are usually so many enticing options but proceed with caution, for not all of them are the ideal events to sponsor. To begin with, your company has a brand. And that brand, above all, has a personality that makes it unique and is the backbone to how you are perceived by consumers. Having a brand personality helps to humanize your company, which in turn influences consumers’ decisions on whether or not to allow your brand to become a part of their daily lives. Your brand’s image also helps in considering how you evoke your message onto consumers. Keeping that consistent, cohesive image is key to maintaining, and reaching or converting new consumers. The sponsorship you decide upon should match your company’s personality and values.

As an advertising agency, it is our job to keep this brand intact and in line to its true character, unless your brand is going through an identity crisis and desperately needs a whole new brand identity – but that’s a whole different story for another time. The events you sponsor should reflect who you are, what you support, your values, ideals and beliefs. Not to mention, the other sponsors alongside you in the event can also contribute to how your company is perceived in the community—good or bad.

When considering sponsoring an event (or even celebrity endorsements), remember…

Does the event:

–       fit your brand’s overall personality?

–       match your company’s values?

–       have a loyal following?

–       help expand your company’s brand awareness?

–       target your ideal demographic? Or expand upon (reaching minority groups)?

–       support any local charities? (Emotion is a big factor for consumers when choosing/supporting a brand)

–       offer potential press coverage?

–       have a fair cost?

–       give you added value opportunities?

And of course, does the sponsorship fit within your advertising/marketing budget?

The beauty of advertising is that rules are almost always broken and taking calculated risks are a common part of our ever-changing world. Sometimes, a completely ‘different’ type of event that doesn’t match your identity, might just give you the edge you need to turn heads, or tap into a new demo in the community. For example, our client, a Memphis law firm recently sponsored a local motorcycle rally. A strange combination until you make the connection between motorcycle crashes and the need to hire a qualified experienced accident attorney, one who now has top of mind awareness.

Sponsorships are both an investment into your brand for exposure, but also help position your company as providing a selfless deed – a company lending a helping hand to cover costs that make these events possible – and consumers appreciate that.

Bottom line: Your brand personality is what makes you, well…you. It is what has led consumers to form a relationship and will attract new ones as well. That consistent image is what your public expects and appreciates.