Is Your Business Falling Victim to the Black Friday Nightmare?
Stella Gianotto
Working with brands to give their consumers, what THEY want BEFORE they know they WANT it ?? | Branding Expert | Creative Director | Consumer Insights | Thought Leader |
Ever felt like your business is caught in an unending loop of Black Friday madness?
Imagine this: Every store shouting about deals, everyone rushing to get the best prices. That’s the Black Friday scene. But what’s really happening? Let’s break it down.
The Big Wave of Sales: Why It’s Not Always Great
Let’s cut to the chase.
Recent research reveals a chilling truth – businesses drowning in constant sales witness a shocking nosedive in customer loyalty.
The Journal of Retailing, found that ‘customers who received more discounts were less likely to repurchase’ and suggested that ‘discounts make customers feel like they are not getting a good deal, which leads to feeling less loyal’.
That’s right, consumers were ‘LESS LIKELY to repurchase’. It’s like a silent assassin, slowly eroding your brand’s foundation.
Drowning in the Noise: Why Your Brand’s Presence Is Fading
Imagine this scenario: everyone’s marching to the same old Black Friday beat, and there you are, cranking up the volume on a different frequency.
Going against the grain isn’t just about standing out; it’s about making a seismic impact.
Why?
Because your brand deserves more than the fleeting allure of a discount and so do your loyal customers.
Rethink or Sink: Consumer Behaviour Exposed
Pause for a reality check. Did you know that the majority consumers say price isn’t the sole puppet master pulling their purchasing strings? A study by the Nielson Norman Group found that 38% of consumers found the most important factor (when making a purchase) is the product’s ability to meet their needs.
It’s a wake-up call.
Price wars, they’re a lose-lose gamble. It’s not just about the cost; it’s about what your brand stands for.
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The Domino Effect: How It Affects Future Marketing Campaigns
Let’s talk strategy.
Constant participation in Black Friday sales weakens the impact of your future marketing campaigns.
Why?
Because your brand becomes associated with discounts rather than value.
Consumers start expecting sales, and your products or services are perceived as commodities rather than unique offerings. It’s a vicious cycle that can handcuff your marketing efforts in the long run.
Remember, your brand isn’t just a product; it’s a story waiting to be told, and retold.
Crafting a New Narrative: Your Brand’s Survival Guide
The question is not whether Black Friday sales are a part of your business strategy; it’s about how to navigate this ever changing landscape without compromising your brand’s essence.
It’s time to shift from discounts to storytelling, from transactions to connections.
At Brand for Brands, we’re not just sounding an alarm; we’re offering a solution. Imagine a future where your brand stands out not because of a slashed price tag but because of a compelling story. Brands that dive into storytelling witness a staggering increase in customer engagement. ‘65% of consumers are influenced to purchase from a brand’ – According to Accenture Strategy’s Global Consumer Pulse Research.
It’s not just a shift; it’s a transformation.
Rewrite Your Success Story: Act Now
Here’s the kicker: every moment you delay is a step closer to falling into the Black Friday trap. Shake off the chains of your traditional marketing and pedestrian copy writing, tell your authentic story, and rewrite your success.
Don’t let your brand shout ‘DISCOUNTS’ to be heard.
#ConsumerBehaviour #PricingStrategy #BusinessInsights #BrandLoyalty #BusinessStrategy #PriceWars #ConsumerInsights
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1 年Thanks for sharing Stella Gianotto
TEDx, Keynote & Motivational Speaker | Author | Business Coach for speakers and aspiring speakers | Founder & CEO at 100 Lunches & 100 Speakers| 40 under 40 Business Elite | People Connector
1 年Insightful post! Understanding the intricacies of consumer behavior beyond just pricing is key to fostering lasting connections and brand loyalty.??
Teacher & Founder - Making English Learning Easier Without Sitting in a Traditional Classroom By Using Innovative Applications For Businesses or Individuals. Progress In Every Aspect of English Quickly & Easily.
1 年100% true. Well written Stella!
Multi-award winning BUYERS ADVOCATE delivering your dream property with 100% success – fast | People and property GPS navigating you through misinformation | Post-grad educated | #1 Buyers Agent in Australia 2023
1 年Thanks for shedding light on this essential aspect of brand strategy, Stella Gianotto. You nailed it in this article.k???? ????