December 19, 2014 Michael Bickerton
Consumers love a deal, they love coupons, they love promotions, and they love discounts. Can you blame them? Brand loyalty is changing.
That being said, there is some new information that was provided to me by “getelastic.com” that suggests “BRAND/STORE LOYALTY” is not a driving factor for purchase, contrary to retail industry perception. WOW, that’s big news – or is it?
I’d suggest that many consumers are brand loyal, they would only purchase a Jeep, or a BMW, or a Bernina Sewing machine, or Arc’teryx jacket or San Pellegrino mineral water, just the way it is. However, consumers clearly want a deal, as such, after doing the appropriate research they will purchase online, in store, or across town. In fact, based on this study, seems that retailers need to be sure that they are engaging their customers with coupons and offers regularly.
Here are some of the stats from this study:
These stats really speak to the use of contest marketing as a process to build your online presence and distribute effective and enticing offers.
There is some good news for in store retailers, but keep in mind you’ve got to get them in-store first. Again, contest marketing with in-store coupons and offers provides the best of both worlds. Online and in store can work hand in hand, so drive them in store with a coupon and offer and the opportunity to increase your sales and here’s why:
To wrapping this up, the Raven5 Contest Marketing Platform is a perfect fit for shoppers and retailers alike. Contest marketing provides the ability to download coupons and offers, gather data, and drive either or both online sales and in store sales.
It’s our take that Brand Loyalty is alive and well. What marketers need to know is that the rules of the game have changed, shoppers have changed, and as such marketers and retailers need to make the necessary adjustments. In digital, as in life, change is the only constant.
Michael Bickerton, Raven5 Ltd. December 2014