Quikly, Consumer Psychology, Urgency Marketing, Consumer Promotions and Rewards
During Detroit's Startup Week, StartupNation Radio's Jeff Sloan asked Quikly CEO's Shawn Geller how he helps leverage a brand's existing audience to drive a visceral response among consumers.
As you prepare for the holiday shopping season, here are a few tips from that conversation:
1. Tap into consumer psychology tactics
Geller explained how he became interested in Black Friday as a kid, and began studying the consumer psychology tactics behind it. Today, he now helps brands like Vera Bradley and Panera Bread tap into anticipation, scarcity, competition, social proof and fear of missing out every day of the year.
2. Offer incentives
Whether your goal is to increase revenue, acquisition or retention of new and existing customers, giving them a reason to interact with your brand will keep them coming back for more. Geller told Sloan that incentives don't always have to mean discounts. Brands can also offer different consumer segments exclusive access to an event, first dibs on a new product or a loyalty experience.
3. Create risk and then give rewards
Geller described how marketers can create a feeling of uncertainty around these incentives, which can be both fun and motivating. When a consumer feels like they might risk walking away with nothing, it makes being rewarded with something that much sweeter.
As companies try to make up for losses due to the coronavirus pandemic this holiday, one solution can be making any day feel like Black Friday.
