Thursday, June 16, 2011
By Ryann T, Follow me on Google+
by Natalia Klishina Some business-owners are under the erroneous impression that a deal must provide huge savings in order to attract customers. But it doesn't matter how small or big it is -- Americans always want a deal. Sure, the bigger the better, but it's the concept of "saving money" in general that's so attractive to consumers. Here's the perfect example of a small deal that set records in just 10 days. Redbox recently launched the "10 Days of Deals" campaign that offered between $0.10 and $1.50 off movie rentals at any Redbox location. Customers were asked to text "deals" into a shortcode every day, and they would receive a different discount coupon code back each day. In less than a week, the promotion prompted over 1 MILLION text messages. And these weren't just from their existing customer base. The campaign also significantly increased Redbox's new subscriber list. And people were saving as little as a dime! So when setting up your promotions with CallFire, take away these marketing lessons from Redbox:
- Provide a deal on something your customers want. If it's something they're interested in already, they'll definitely take advantage of any available discount on it.
- Require minimal effort on the customer's part. One of the reasons Redbox's promotion was so successful even though it offered a very small discount, is that it didn't ask the customer to do a whole lot.
- Engage in cross-channel marketing. If you're running a promotion, advertise it everywhere. Redbox ran its ads online, in e-mails, at its kiosks, etc. Tons of discount websites and blogs picked it up, too -- so don't forget to target people who'll spread the word for you.
- Target both existing customers (increase customer loyalty and thus lifetime value) and new customers (drive customer acquisition). Both are valuable in the short-run and in the long-run.