How’s Black Friday for you? Picked up any decent bargains?
There’s no doubting that offers, rewards and discounts are a great way to get customers through the door. And that’s not just for a cold Friday in November.
For potential customers, a good offer might just be the incentive they need to try out your products or services and for existing customers it can be an opportunity to keep them engaged with your brand.
There’s also the argument that a “killer offer” could easily get lost amongst all the headline grabbers so maybe it’s worth considering holding back until after all the Black Friday hoo-hah has died down.
So what makes a “killer offer”?
The best offers are those that disrupt the status quo, that are properly promoted and delivered expertly. If you want to make your customers an offer they can’t refuse, ask yourself these 3 questions:
1. Is the incentive strong enough?
The offer/reward/discount you offer must be something that the customers can be easily persuaded that they actually want or need.
2. Are you promoting the offer properly?
A good offer is meaningless if the customer is unaware of it. Make sure you plan a strategy that will reach as many potential customers as possible.
3. How will you deliver the offer?
This could be the first interaction a new customer has with you. Make it special. Great service/delivery will lead to repeat business. Let’s leave the final word on this to the office’s local Indian Restaurant…
Into the time machine…
The best example I can think of to illustrate the above is to go back…way back to the mid-90s.
I was running a fledgling music management and promotions company from what was pretty much a cupboard in the basement of a guitar store in Glasgow’s merchant city.
Instead of paying rent, if the shop was busy they would phone downstairs and I’d come up to help in the shop.
As a newly opened guitar store in what was quite a competitive marketplace, the guys at Merchant City Music knew they had to attract a larger customer base and this meant stealing customers from the competition. They did this by successfully answering the three questions and coming up with a “killer deal”.
They created a winning offer
Guitar Strings £2.99. Back then (circa 1995) decent guitar strings were typically around £6 per set. The profit margins on a £2.99 sale were marginal but it got customers into the shop where they’d potentially go on to sell more.
They successfully promoted the offer
This was pretty much pre-internet. I had a computer downstairs but it cost me £15 a month to connect at 56kbps to the internet (and then I paid for the local call).
The guys at Merchant City Music paid for 100 MASSIVE posters (60” x 40”) to be printed and flyposted in and around the Glasgow area. They were hard to avoid and the message was simple.
They delivered the offer well
Here’s the crucial part. It’s not just about exchanging goods and banking the money. A LOT of potential customers discovered Merchant City Music because of the posters and they went on to become regular customers because of the delivery.
At that time in Glasgow, guitar stores were typically quite intimidating places to visit unless you were already an amazing player. And they were practically no-go zones if you were female.
MCM knew this so they worked incredibly hard at making the shop as inclusive and laidback as possible. It became known as a place that anyone, of any musical ability, could go to try out guitars, get advice or just hang out…oh…and get really good quality guitar strings at an amazing price.
This amazing special offer got them a lot of first-time customers but it was the delivery of the deal that made those customers return and spend their money with this shop rather than any of the competitors.
Seen any examples of excellent “killer deal” delivery today? Any terrible ones?