I am in agreement with the IPA that we need to focus on value-added promotions for customer loyalty, rather than price (MW 11 June).
Time and again at Granby, the most successful promotions always have a certain delight factor, an added value to the consumer that is relevant to their lifestyle. But with the economy being as it is, it is difficult to compete with a brand that simply discounts.
However, the question remains/ what will happen to these brands once times start to look a bit brighter? We recently conducted some research that found that 87% of people would switch brands for a price discount or BOGOF – what does this say about the future of promotions?
For the industry to progress and start creating “brand loyals” again we need to increase data insight and consumer interaction, or we may as well just shut up shop.
Granby Marketing Services