Unlock Value-Based Promotions to Make Your Customers Fall in Love with Your Brand

What are value-based promotions and why should you use them in your business?

Looking for a new way to "wow" your customers?

As every Brand Manager knows, cashback promotions, coupons and Try Me Free promotions can be just as valuable to customers as cold cash.

That's where value-based promotions come in.

Not only do these promotional tools put cash back in the pocket of your consumers, they also give them the chance to try out offerings that they might otherwise have not.

Furthermore, offering a Money Back Guarantee promo further boosts customer satisfaction and trust in your brand. At the end of the day, it's win-win! Your customers cash in on offers tailored specifically to them while you cash in on loyalty.

The current trend is showing a?FREE?or a?SAVE?message is winning the day over a?WIN?mechanic by a country mile.

How can you create offers that appeal to your customers' values and motivate them to take action?

Crafting offers that truly resonate with your customers should always be the goal. Consider cashback promotions and coupons to draw in new customers or existing ones who are looking for a deal, or Try Me Free promotions to spur initial purchasing.

And don't forget about the power of a Money Back Guarantee promo - everybody loves knowing that if they're not satisfied with the product, their cash is safe.

If you keep your customers' values in mind when creating offers, you'll be well on your way to providing engaging deals they can't resist!

Examples of value-based promotions that have been successful for other businesses

Nescafe Gold

A serious of hard hitting consumer value promotions were set up in 4 waves during 2020. Activities varied from simple coupons to tiered cash backs to provide exclusives for the different retail partners.

Tena

Regular users of Teena Brand know they can save big time with coupons. Throughout the year, coupon campaigns are run to help customers reduce costs wherever possible. Every penny counts and this campaign was no exception—users had the chance to earn up to ￡8.50 in savings with the use of a single coupon! By encouraging their customers to use coupons, Teena Brand has continued to drive direct sales increases during key times throughout the year.

Tips for implementing a successful value-based promotion campaign in your own business

Pick the correct value for maximum effect.

When selecting the kind of reward for your promotion, you must weigh the cost versus benefit.?

A small and inexpensive reward might seem appealing when it comes to running a promotion on a budget, but it may not be that engaging for consumers.?

On the other hand, rewarding your customers with high value cash back or incentives can come at great expense, however the higher engagement and interest generated among people could be invaluable.

Use Fixed Fee to protect your budget

In simple terms, Fixed Fee is a form of promotional risk insurance allowing a campaign to be budgeted for regardless of final performance. It protects the cost of your activities under a one off fully covered fixed fee with the backing of re-insurance.

Fixed fee is a wonderful enabler of big ideas, by allowing these bold and ambitious campaigns to see the light of day and yes of course providing cost certainty alongside that.

Set up handling

Even though it may feel tedious and dull, setting up handling and processing for any promotion is essential to ensure successful results. It’s important that the process is run smoothly and efficiently so consumers can get their money back without delays.

Without proper setup of your campaign, all that time and effort put in may go down the drain, so be diligent with the preparation!

Summing up

Thanks for reading! I hope this article has given you some ideas about how you can create value-based promotions that will appeal to your customers and help grow your business. If you need any help implementing a successful promotion campaign with Fixed Fee, please don't hesitate to get in touch here on LinkedIn.