Life for marketers and agencies used to be simpler, especially with regards to consumer promotions. A few decades ago, there were much fewer TV channels and radio stations. Top magazines and newspapers featured free standing inserts (FSI’s) to help make promotions stand out. The internet did not exist and the first portable phones were just being introduced. While it’s true for marketers and agencies, life is more complicated; maybe the right word is fragmented. There are also many more opportunities available. This enables and empowers smart marketers and agencies to achieve better results and return on investment that is more measurable. It all boils down to what consumers want today. That’s what distinguishes successful brand promotions then from now. Here are 6 key factors.
- Consumers want to get marketing messages via email. 77% of us want to get marketing messages via email. There is no close second place (source:MarketingLand).
- Consumers want to be able to use their promotion incentives online. Over the past decade, e-commerce has grown at an impressive clip of almost 18% a year. With the accelerating adoption of mobile—US smartphone penetration exceeds 40% today and is projected to reach nearly 60% in three years—digital commerce is poised to explode (source: McKinsey).
- Consumers want promotions to be personalized. Ads are shifting toward not just digitization but also personalization, powered by increasingly sophisticated algorithms and predictive models that analyze transaction data and digital media. 35% of what consumers purchase on Amazon and 75% of what they watch on Netflix come from personalized recommendations (source: McKinsey)
- Consumers are more likely to take action if video is included in the promotion. 100 million people watch online promotions every day. 90% find video helpful in making buying decisions; 64% are more likely to buy a product if video is included in the promotion (source: DMAK Productions)
- Consumers want to access promotions from their mobile device. Mobile ads perform 4 to 5 times better than traditional online ads. 70% of mobile online searches lead to an action within an hour, while 70% of desktop online searches lead to an action within a month. Mobile coupons have a redemption rate 10 times higher than that of print coupons (source: HubSpot)
- Consumer “Like” brands that include social networks in their promotions. The #1 reason consumers “Like” a brand on Facebook is to receive a promotion, offer or discount. When a brand includes Facebook as a vehicle for their promotion, the average increase in “Likes” is +34% (source: ExcelTarget)
We have an interest in helping marketers and agencies run better brand promotions that take advantage of what consumers want today. Virtual Incentives provides solutions that help businesses connect with their most valuable employees, customers and partners in ways never before possible. Our prepaid platform is powered by a simple, customizable virtual solution that closes the gap between action/achievement and rewards, rebates and offers. Did these factors help distinguish what makes brand promotions successful today? Can we help you make your next promotion run better because it takes advantage of what consumer want?