I come from a proud line of pack rats. Both my mother and grandmother firmly instilled in me this mantra: Let’s keep it; we might need it someday.
That’s why, 10 years later, I’m still moving and storing things like volleyball kneepads and biology lab goggles. I haven’t played volleyball since my freshman year of high school or conducted any scientific experiments since my tenure at UNO, but, by golly, someday I may need those things!
I was lucky enough to learn a second mantra from my two favorite ladies: Let’s wait and see if it goes on sale.
That’s right. My name is Sally, and I’m a third-generation discount shopper. I remember my mom clipping coupons every week, and the intricate sorting system that would cover our living room floor. Flash forward about 20 years and I’ve had so much fun — yes, fun — saving money on groceries by clipping coupons that I recently crafted my own custom sorter. I don’t know about you, but I find it incredibly satisfying to see how much money I save with each trip to Hy-Vee.
So, what does this lovely anecdote have to do with marketing and advertising? Everything. Whether it’s B2B or B2C, advertising and marketing help companies engage their target consumers. And today’s consumers are loudly crying in unison, “We want a deal!”
Retail customers want dollars-off and large percentage-off discounts. Communications customers want bundled deals and deep savings on multiple service accounts. Nonprofit donors want to see their dollars work harder and go farther. Customers of the financial services industry want better rates and deeper pockets.
Recent economic and cultural events have folks squeezing tightly their every hard-earned dollar. And most of us aren’t willing to loosen our grip until we’re sure we’re getting a deal — which begs the question: How do you get people to buy what you’re selling?
First and foremost, offer quality products and services. There’s nothing wrong with offering incentives on your goods, but never stoop to cheapening the quality. People aren’t looking for cheap quality; they are searching for quality at the best value. And there’s the key: Find anything and everything you can to add value to your products and services. This is not the same as adding cost; your customer’s perceived value does not coincide with a more expensive offering.
Perceived value is just that: perceived. I will hands down choose a retailer who greets me with a smile when I walk in and genuinely thanks me when I leave. I won’t hesitate to select the service provider who not only gives me an estimate but also offers expert advice.
Something tells me that dearest grandma and adoring mom were onto something with their discount mentality. We’re living in an era where price tag is king and lavish spending is on its way out. In a time when “shopping around” is expected, how are you adding value for your customers’ experiences? Rest assured, they won’t hesitate to leave you if they find more value in your competitor.
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