Tuesday, February 15, 2011

Win with the "right brain"...

Ad Age recently had an article on Limited Time Offers (LTO's) vs. Limited Time Discounts (LTD's).

Interestingly enough when done well - our hearts and souls are inspired by LTO's because they represent something new and/or special that's not always available - think seasonal flavors like holiday peppermint or seasonal Copper River salmon (usually runs for only 6-8 weeks). Bringing attention to these offers even when tied to a special offer price delights our emotions.

When everyday products are put on special - LTD's we like it initially, however, we can't help but feel a little ripped off when they go back up in price once the promotion is over. That in turn erodes our emotional connection to a brand and trains us to consider future purchases of an item often only when it is on sale. If this is the strategy of your brand you’re better off making an everyday strategy of low prices (like Wal-Mart and an increasing number of discount brands). It's better for the customer, better for the brand and will reduce confusion.

So if you want to touch a consumer heart and drive traffic to your business, make your offers truly special and Make It Matter in your customers’ heart!

No comments:

Post a Comment