When we buy from a certain business, often there are many number of reasons for it, if you factor out spontaneity or even convenience. Essentially it is because we like something about the business which stuck in our memory, or even made us loyal.
Deals and offers are one of the primary ways of increasing a customer’s loyalty towards brands, which as a result and over the long term, turns them into raving fans.
Jimmy John Liataud, founder and chairman of the famous American sandwich chain; ‘Jimmy John’s’ and who was included on the Forbes Rich List in 2018 once famously said: “customer loyalty comes from consistent experience…they learn to count on you”.
Profound, though nevertheless apt. This is definitely one aspect and while there is an argument that too many deals and offers can cheapen a brand, the right ones, executed in a clever way can work wonders.
Let’s face it, everyone likes a bargain – to feel as though they are getting value without something appearing ‘too good to be true’ as the old adage goes.
Appealing to Customer Psychology in the Right Way
One of the best types of deals and offers are the ones that we feel are exclusive just to us. Perhaps the result of a business mailshot campaign which makes the receiver feel special and unique.
These can happen and at random. We feel ‘part of the club’, so to speak. However, as consumers, we must firstly understand why there are brands that we feel an affinity to.
It could be that we have an affinity to a particular brand’s story; for example they may have a similar philosophy that you do such as their thoughts towards charity, or the founder may have come from a background that draws parallels to yours that you can relate to.
For consumers, it is emotion based on the reputation and story of a brand that triggers buying behaviour and this for lifetime value is where businesses want to position themselves in a potential long term customer’s psychology.
So, this means that offers and deals used in a way where target customers feel they are being made to feel special can have a great effect.
It isn’t even necessarily the business that has the best product or the service that makes the most profits, but more often than not, it is the ones which get in front of their target market and are able to stay there and dominate thoughts.
Price versus Value
As consumers looking for a long term relationship with a particular product or service niche, it isn’t necessarily the one with the lowest price that wins. While everyone likes something for free or heavily discounted rate; we might be inclined to try it, but not necessarily adopt it for the long term.
From a service perspective, such as hair salons for example, the vast majority of people take pride in their appearance and don’t mind a significant outlay every four to six weeks if a good job is done, though, more importantly, people buy from people.
If a new hair stylist opens up and they offer every first haircut for £13 for a limited amount of time, before increasing to £18, the chances are people might be inclined to try this; the price points and value implication on first impression is likely to convert.
Furthermore, if rapport is generated and the customer is happy, they will, more often than not have no problems making this their regular, long term hair salon.
Obviously, variables will come into play, such as location and disposable income though if potential long term value is generated from a deal or offer, it goes a long way towards creating customer loyalty. This, for both customer and business can be crucial towards generating a happy relationship.
Getting into the ‘exclusive’ club
Everyone wants to feel special and customers are no different. It is also the fear of missing out (FOMO) that can cause us to take action on an offer for a product or service, that we know is unlikely to be repeated.
Snizl has worked hard to research and partner with some of the hottest next generation businesses, in order to bring some of the most unique deals to a marketplace which thrives on specially tailored products and services.
Join for Free today to access your highly customised offers from businesses putting you at the heart of what they do and your next brand which deserves your loyalty.