10 SUGGESTIONS TO MAKE YOUR PROMOTIONAL OFFERS WORK HARDER FOR YOU
Over the years, one fact has remained constant: Belgian consumers are the most receptive to promotional offers in the world. This does not mean that certain aspects don’t change or evolve. HighCo DATA offers you 10 tips to give your promotional policy an immediate boost.
1. Give your B2C promotions a bit of B2B
The overriding majority of promotions in the marketplace target consumers exclusively. And yet there is an emerging trend whereby specific aspects are added on to these campaigns that are targeted at subscribers or distribution networks. And the use of well-proven promotional methods that work with a professional audience as a complement to activating consumers, can work wonders for ensuring optimal visibility, for instance, or installing display units in stores. FMCG, DIY, Pharmaceuticals: some brands are discovering the advantages of ‘push and pull’ campaigns. Why not give this method a chance? We’ll happily look into it with you.
2. Think phygital!
The retail world today is completely convinced of the need to adopt an omni-channel approach. It is only logical therefore that coupons also move in this direction and profile themselves as online as well as offline options. E-coupons are growing exponentially in importance: in 2015, this promotional method grew by 19% (YTD September, compared to 8% for printed coupons. One third of printed e-coupons are presented at check-outs today. E -coupons offer a multitude of advantages of course: 48% of beneficiaries accept to be identified via opt-in. The GCN codes on e-coupons ensure personalisation, which makes it easier for customers to exchange them, but also enables you to follow consumer patterns without having to invest in expensive data sets from third parties. The fact that these digital coupons are used three times less here than in more or less all of France, proves that Belgian advertisers are still quite reserved about them. Although 37% of these state that they use them, we note that in practice just ten manufacturers account for 75% of all redemptions.
3. Time to play!
You have most probably heard of the ‘gamification’ phenomenon in marketing. And the fact that we can put the power of video games to work for your promotional campaigns, and measure the impact, data mining and consumer commitment to your brand. Everyone’s interested in it. But there are still very few brands that practice it, at least in Belgium. At HighCo DATA we have everything needed to apply this fun and practical method to your business for a minimal fee. Do you want to know more about it? Allow us to explain the rules of this game to you.
4. Don’t be too generous
Here at HighCo DATA we have figures that show that the average value of discount vouchers is rising. In 2012 they were worth 1 euro compared to 1.40 euros in 2016. This isn’t always justified. We have also noticed that the number of redeemed vouchers with a value over 2 euros is lower. Perhaps we need to review the most profitable method for you. You may well think that a discount voucher worth between 1.50 and 2 euros will guarantee you a maximum redemption rate, namely over 50%. However you should remember that for the same price you can finance two operations with a discount of between 0.50 and 1 euro. With a guaranteed higher accumulated result!
5. Increase the modeling efficiency of your promotions
To add to the previous point, we would state that the value of the discount needs to be adjusted to the environment where the voucher is issued. The further the customer is from the location and time of purchase, the more attractive the offer must be. The voucher that you send out via a mailing will have to be more attractive than the on-shelf voucher, and this will in turn need to look more attractive than the on-pack voucher. But optimising the promotional mix has to be linked first and foremost to your objectives. Do you want to attract a certain number of customers of different retailers, but know that they don’t all react in the same way to the same promotional offers? Plan the campaigns using different media and at different times. We can help you with this.
6. Use themes that have an impact
It may sometimes be beneficial to run group promotions for your product around common themes such as books of vouchers or e-coupons. Not all coupons will be issued by the same advertiser, but they will revolve around the same theme. This format allows you not just to save costs but it often also produces better results because of the coherent themes and attractive accumulated discount from the different promotions. We will be happy to tell you all about the opportunities in this field.
7. Be coherent and think about the future
It is in your interest to think about the series of proposals you want to make to your consumers. A lot of brands for instance focus on a cashback offer on their products, which in itself is an interesting technique for recruiting that can also lead to some very interesting results. You now know which consumers are interested in your products and you can then come up with a digressive offer. First send them a single-buy coupon and then a bit later a multi-buy coupon. HighCo DATA can help you with this approach.
8. Get ready for m-coupons
E-coupons are already part of our everyday lives and it looks as though m-coupons are following in their wake. The technology is already in place for it: HighCo DATA has already tested it out successfully in the field. The last step is the dialogue that has been embarked on with retailers and brands in Belgium by GS1 and which should lead to a common protocol. This is not for right now, but given that smartphones are rapidly becoming the favourite helping hand for consumers it seems that we won’t have to wait long. How can you prepare for this? By getting completely to grips with the mechanisms of e-couponing and m-couponing. The basic logistics are the same, but m-couponing also offers geolocalisation possibilities.
9. Discover “Load to card”
Belgian retailers often use loyalty cards. Apart from hard discounters, almost all the chains offer these to their customers. They play a very important role in marketing and sales and are seen by consumers as offering real added value. Did you know that it is very simple to add the role of promotional wallet to customer cards and thus enable consumers to upload discount offers on the card? HighCo has tested an important technical platform in France, where 5 million food retailer card holders were able to upload virtual coupons of 75 A Brands. A form of m-couponing before its time?
10. Put our data at the service of your marketing plan!
HighCo DATA manages a complete range of promotional tools and mechanisms. The company has an overview of all the operations launched on the market. Based on this information, our company is able to take an analytical and critical view of good practices. What produces the best results, what were the less positive experiences and what went wrong? In which situation does a ‘satisfied or money back’ operation produce the best results? In which instances will a discount coupon or a cashback operation produce the best results? Why deprive yourself of this kind of data when preparing your marketing plan? HighCo DATA is available to underpin your decisions with important acquired knowledge. The more you integrate your campaigns into a plan, the more profitable they will be. We are there to help you with this. And this assistance is free. Can you see any reason why you would say no?