When you set your promotional strategy, do you really know what works? Have you researched customer trends, undertaken shopper marketing and looked at what sort of promotions get customers excited? We’ve done this work for you. Granby and SwiftReceipt have conducted research with consumers on price and brand promotions, and here’s what we found:
Which customers like promotions?
Of the 1000 people we surveyed, 66% did find promotions attractive. Having a family makes a consumer more likely to find promotions enticing, particularly those with young children. Around 74% of parents with children under 18 agreed that a brand with a promotion is more appealing than one without. They are finding they have to balance the budget and feed a family, which can be a challenge. However, as consumers get older, they’re less tempted by promotions, 77% of 25-34-year-olds find brand promotions attractive, but that drops significantly to 51% when you get to the over 55s demographic.
What types of promotions are best?
The high-value prizes and cash giveaways are most preferred, with 44% agreeing that these are most likely to capture their attention. Lower value rewards that can be claimed instantly in-store also appealed – for example scratchcards to win an in-store product that you can redeem at the till.
Promotions need to be convenient – up to 61% of those surveyed felt a complicated claims process would put them off. They want something that is easy to redeem.
In the digital age, online technology is key. Up to 62% of customers were motivated by digital rewards, with 46% of customers preferring to redeem promotions through a laptop. This is followed by 35% who would via a mobile or tablet, and 36% through an app.
How to make promotions work for you
So what does this mean for your promotions; here’s our advice on what steps to take to make promotions work for you;
1. Make sure you have an online offer- this is where people want to redeem their promotions
2. Appeal to families – this is your core promotional market. If your brand is family friendly, your promotions should be too
3. Make promotions easy to redeem – simplify as much as possible.
4. Offer a mix of promotions; blend high-value giveaways with quick low-value in-store freebies.
Read more of our whitepaper on consumer promotions here.