RAPP’s research into the cuts set to be made by affluent families in the next few years (MW last week) should sound a warning bell for marketers. We all know that targeted promotions receive better response rates, but too many brands still target consumers with inappropriate offers.
Our own consumer research, in partnership with Equifax, reveals that 29% of consumers have received an offer or promotion for a product or service they weren’t eligible for.
The worst offenders are credit card providers, with 32% of that survey sample receiving incorrectly targeted promotions. Insurance providers come next with 26%, followed by mobile phone (20%) and loan offers (17%).
This extremely bad practice has a very real impact on a brand’s reputation 30% of those polled said that they would never buy from that company again.
Brands need to tighten up their marketing activity and avoid committing resources into targeting consumers that can’t even take them up on their offer.