As businesses have begun re-opening across America, and consumers are emerging from quarantine, many advertisers are wondering how to win the battle for customers. To ensure they remain relevant and maintain market share, advertisers need to re-evaluate their marketing strategy and messaging in response to COVID-19, being sensitive to shifts in consumer attitudes and shopping behaviors.
As you approach your advertising, consider that economic shifts create a fickle marketplace. In fact, 87% of consumers are continually shopping around for the best value, and 60% of them are persuaded to shop or purchase from another business.
The Power of Value-Driven Advertising and Coupons
Now more than ever, advertisers need to show consumers they can offer them the most value for their dollars. Utilizing value-driven advertising and coupons are proven marketing strategies during challenging economic times to help you drive traffic in store, online or to your app.
Reinforce your customers’ purchases by reminding them of the differential value your product or service holds. Focusing on value means assuring customers that your products or services will give them a good “bang for their buck.” As you approach your advertising, keep in mind consumers are open to compelling offers that help them stretch their dollars. Value-oriented messaging or promotions featuring benefits like loyalty rewards, special services, and offers show your customers you can offer them the most value for their dollar.
Looking back at the Great Recession in 2009, coupon redemption increased by 23% from 2008 to 2009 according to NCH research. 90% of these coupons came from free-standing inserts. As you plan your advertising strategy, also consider that during this time, almost 50% of our shoppers used coupons and sales circulars more often to make their purchasing decisions. The advertisers who got their message in front of consumers early in their decision process were 2x as likely to capture those consumers than those who came later. Now is the time to advertise your business and gain market share.
Create a Successful Print Advertising Plan
As you evaluate and plan your marketing strategy, consider the below tactics to form a successful print advertising plan and win the battle for customers:
- Shift your message to focus on value. Incorporate messaging such as “value menu,” “everyday low prices” or “best value”
- Consider utilizing coupons or limited-time offers to drive traffic online, in app or in-store
- Promote available BOPUS (buy online, pick up in-store), curbside, or delivery options
- Make your customers feel valued by promoting your loyalty program or app and highlighting any special perks or offers just for them
For examples of businesses who have utilized direct mail to drive ROI and grow their business, check out our Success Stories page. If you have ideas or want to talk more about integrating direct mail into your marketing strategy, reach out to us anytime. We are always happy to share our knowledge with you to help make your next campaign a big success.
Sources: DPP Creative, NCH Research, CNN.com, McKinsey & Company, L.E.K. Consulting