Offer-based marketing offers significant benefits to small businesses. Consider these four reasons for creating an offer-based campaign.
Believe it or not, some small businesses have yet to try offer-based marketing. However, the fact remains that it’s a relatively easy strategy to employ and the benefits could make a significant difference to your business.
If you are on the fence about trying an offer-based marketing approach, consider these four benefits:
1. Strong Offer, Strong Turnout
If you aim to boost your store’s foot traffic, then a strong offer could be the key to success. Why? A particularly appealing offer could be too good to pass up and lead to a significant number of customers visiting your
business or trying your product for the first time.
A potential customer often needs an excuse to create a new habit or try out a new business. Give them that excuse. For example, if you’re running a neighborhood gym, a free week could be an effective tool to increase your memberships.
2. Location, Location, Location
Location is so important in the real estate world that many argue it’s the three most important factors. It’s also important to your business. This is the case because your business is often competing with other businesses that hold the location advantage.
Let’s face it: a store that’s nearby and has the product a customer wants is more likely to get that customer’s business than a store the customer hasn’t yet tried and is located comparatively far away. To convince customers near your competitors’ locations to give your store a try, consider offering a discount such as a specific dollar figure off their total purchase. Once they’ve had a good experience at your location, they are more likely to return.
3. The Main Event
Are you in an area that’s known for a popular event? It could be a sporting event or a popular cultural festival. Whatever it is, with a well-executed offer-based marketing strategy, you can make their foot traffic yours.
For example, you could offer a promotion that ties into the event. If a race is being held in the area, offer a discount or free sample to runners who bring in their racing bib the day of the event.
4. Build Your Buzz
A new product or menu item can be your best offering. But, it won’t matter if nobody knows about it. You need to build some buzz around new products. A particularly effective strategy for restaurants is to offer a free appetizer or dessert when customers order your new menu item. More people will be likely to give the new item a try and that could result in generating some quality buzz.
But, Offer-Based Marketing Requires Help
Busy small business owners cannot survive on sticky notes and calendar reminders to execute consistent, effective, offer-based marketing campaigns. Fortunately, technology like LSMx can help you to identify who your potential customers are, pinpoint where pockets of those customers are located, and create and send offers directly to those potential customers in minutes.
Want to learn more? We’ll waive the license fee for your first 30 days so you can explore the LSMx app for yourself. Create an account today to learn how it can help you execute offer-based marketing campaigns.