These days it is rather impossible to escape the deluge of advertisements floating about the digital space. Even YouTube, which used to show ads after every few videos watched has increased the frequency of these ads, resulting in statements like “If I wanted so many ads I’d just watch TV”. Whether you call it the digital effect or simple evolution, people these days have rather shorter attention spans. This makes companies think that massive ad campaigns are the only way to remain in public memory. But, the fact of the matter is that overloading consumers with too many ads overwhelms them and they look for means to block them out. When it comes to advertising, more is not always better; it’s the same quality over quantity factor.
As a business, you might think that if you blanket the digital space with ads you will be able to send out information to a lot of people. Unfortunately, this approach does not always work. This is where consumer-centric tactics come into play. This marketing strategy reaches the customers one by one at the point of sale, and is promoted by word of mouth by the satisfied consumers. Not only do consumer-centric strategies increase profitability, but can also help reduce your advertising costs. Here are the top four consumer-centric marketing tools that you can employ instead of bombarding people with online ads:
Frequent shopper programs are put in place to reward consumers for making frequent purchases from your business. The goal of this strategy is to increase customer retention, which of course increases the profitability. Under this approach, the customers are offered either discounts or free merchandise, based on their expenses with you. More customers mean more returns on interest, and this strategy is meant to encourage shoppers to return to you. Just make sure that you keep the rewards at attainable levels and that the rewards are regular.
As you might have guessed, customer loyalty programs are just a variation of the frequent shopper strategy. This strategy is about using the loyalty program to offer customers with discounts that increase with the number of purchases, leading to the point where the customer can be rewarded with the gift of a free item. One way to utilize this strategy is to offer, say, a 5% discount on purchasing up to three items, 10% for 4-8 items and the 10th item can be given for free (just an example).
This one is already a rather famous concept. Businesses can pass some benefits and savings to their customers by offering discounts if they pay for the services or goods in advance. Let’s take a few instances:
- 10 T-shirts at the price of eight
- 5 haircuts at the price of 4
- Free alignment services for a year or 2 on the purchase of a set of tires
You get the drift. If your reward your buyers for advance payments, it makes it a lucrative option. Plus, the buyers would have to return to you for availing the full services. In turn, your business is also able to create a base of loyal customers.
On one hand you see a review in an ad online, on the other hand you heard your friend recommend a place. What would you trust more? It’s actually a well-known fact that a personal referral is always more effective as compared to high-pressure advertising; which brings us to the consumer-centric referral programs. Aimed to bring in new customers from the referral of current customers, the referral program rewards customers if their referrals make a purchase from the business. The reward could be discounts or it could be free gifts for the new and old customers with a company logo on the gift (advertising by itself).
The importance of a digital footprint has not reduced. But flooding your ads everywhere might end up having an adverse effect on your business. Keep on advertising, but concentrate more on quality and think about integrating the consumer-centric tactics into your marketing strategy.