Consumer behavior has changed dramatically and smart marketers are paying attention. Seeking value as a priority, paying cash for necessities, foregoing credit cards, searching for discounts and putting money in the bank have become the norm thanks to the recent recession. Spending is more cautious, with consumers looking for deals, using coupons and actively focused on getting the most for their money. And while the recession may officially be over, some economists say many of these changes in spending habits, initially seen as temporary, have taken hold for the long haul. The 2010 Nielsen Economic Current states “value remains the mantra and the new normal is characterized by restraint.” The report also indicates that shoppers across the U.S. and Canada are cutting back on trips to the store, seeking value and balancing their purchases with a mix of branded and store brand items. This economic trend represents a significant opportunity for marketers, going beyond the sole purpose of grabbing someone’s attention, and instead delivering usefulness and value.
Further, internet research firm Burst Media recently surveyed more than 4,500 women, age 18 and older, concluding that coupon use, in both the online and offline world, is growing. In fact, nearly one-third (32.4%) of respondents consider themselves ‘frequent’ coupon users and one-third (34.0%) are using coupons more frequently today than they were six months ago.
High value offers characteristic of front door marketing strategies may fill a gap here – demonstrating a brand’s understanding of customer needs, while meeting a customer’s expectations of value. If it’s all about the getting the right offer on the right door, today’s creative front door media can make a high value offer stand out. Gift cards, sweepstakes, tear-off offers, and sensory marketing with sound, scent or taste are available media options and represent a dramatically personal approach suited for major brands seeking to offer special treatment to their best customers.
If customers have high expectations of value from their favorite brands, what are you doing to deliver VIP treatment to their front door? Is your offer high value enough to walk through your customer’s front door as a welcome visitor?