More and more, consumers are bombarded with messages—from advertisements under the ice at a hockey game to mobile phone apps, or one of the thousands of other places ads are placed in today’s media-rich environment. What stands out is how marketers are slowly taking up the concepts of offer optimization:
1. Consider the entire offer. No longer is an offer just a reduced price, buy one get one free, or even a “come back for extra loyalty points” deal. Better marketers are considering other elements of the offer, including the messaging and tone as part of the “offer mix” to help the offer stand out in the crowd.
Now, the same offer can be made using more masculine or feminine tones or can be tailored with unique messaging that resonates with the target consumer persona or customer segment. We see many of our clients now making the same offer construct with several different messages and seeing significant differences in response—for example, when a retailer shows an item with a “you deserve the best” versus a “latest in fashion” tagline.
2. Expand your concept of the offer. The offer is no longer a discount or some special deal. Better marketers have a communication stream with prospects and current consumers that include brand reinforcement offers and even customer service offers. These offers don’t provide a deal or discount, but they do achieve other objectives that in the end drive customer behaviors in alignment with a brand’s consumer acquisition and growth goals.
3. Consider measurement of the offer. Leading marketers are not just measuring campaigns or click-throughs, but instead are joining together all the aforementioned elements of an offer and measuring the effectiveness of these “offers” across all dimensions. And they are building and licensing platforms that support this goal instead of merely looking at response rates or other broad economics associated with acceptance of the offer.
If marketers are going to adapt to the new impression-rich world we live in, they will have to modify their thinking on consumer engagement to ensure a focus on offer optimization that will help their targeting communications stand out above the fray.
Mike Caccavale is CEO of Pluris Marketing and an expert in cross-channel offer optimization.