Offering exclusive access or promotions to loyalty members is a valuable strategy that can enhance the retail brand-consumer relationship.
Generic promotional approaches often fail to grab the attention of loyalty members. Many retail brands are still using the one-size-fits-all mentality and are struggling to personalize offers or make their audience feel special. How can you deliver experiences that drive engagement?
Whether you need to acquire new customers or retain existing ones, offers and promotions are excellent tactics to motivate buyers and increase revenue — as long as these opportunities are presented in a strategic way. Although brands are recognized by consumers, many fail to align themselves with the motivating behaviors that drive consumer purchases. But the brands that do, see higher levels of acquisition, engagement, sales and retention.
Many retail brands use frequent offers, promotions and coupons as motivating factors for online and in-store purchases. Approximately 77% of smartphone owners say discounts on products and services increase their loyalty to a brand. The question is: how do you strategically develop and distribute promotions and incentives so that your discounts serve as an effective vehicle for motivating customers?
The most prevalent factor behind consumer participation is exclusivity. The feeling of being included and important is highly desired by consumers, by giving them access to something that isn’t available to others you give them incentive to react and make a purchase. Here are 3 facts that prove the value of exclusivity:
1. 72% of the people we surveyed agree that exclusive deals or promotions are more appealing than those that are offered to everyone. Here’s why you should be incorporating exclusivity into your customer loyalty program.
2. 58% agree they are more interested in offers and promotions that are not available to everyone.
3. 33% agree they are likely to share that they received an exclusive promotion on social media.
*All stats taken from Quikly’s white paper, “How Marketers Can Use Incentives More Strategically to Influence Consumer Behavior”