The value of effective price and promotion communication
BY JUDY ANDREWS – FOUNDER/CREATIVE PARTNER, TICKETY BOO CREATIVE
With 76% of purchase decisions and 80% of brand-switch decisions made at the shelf edge, clarity of pricing has never been so important. Want to get yours right? Read on.
First thing’s first. We need to put ourselves in our customers’ shoes – what are they experiencing? Most customers have limited time and are on a tight budget. How can we make their lives easier and help them choose the best promotions, while working to support your business objectives?
Around 8.4 million people in Britain struggle to put enough food on the table.
A common mistake is to make everything look like it’s on promotion or include items with only a very small saving to give the impression there’s loads of promotion activity. This approach will have your customer question what the best offer is and ultimately lead to poor price perception.
After working in the brand and retail industry for nearly 20 years, working globally in countries like Israel, USA, Australia and East Europe, as well as the UK, and with big retail brands like Tesco, Superdrug, Wickes, Coles, Winn-Dixie, Mega and Dairy Farm. Here are my top five principles to creating the best value comms strategy and design.
1:
KEEP IT SIMPLE – FOR EVERYONE
A) It helps customers to understand and compare prices quickly.
B) For colleagues it’ll make them confident in implementing and talking to customers.
2:
KEEP IT CLEAR
Have a strong message hierarchy. The price or the promotion should shout, the product information should speak, and the legal information should whisper.
3:
DEFINE AND CREATE PROMOTION TYPES
Show your customers what to look for, easily. What is a standard price, what is on offer, and what are the best offers.
4:
MAKE IT OWNABLE
Have a recognisable device that customers know to look out for on promotions and that is ownable to your brand.
5:
MAKE IT EASY
Customers value honesty so promotions should be straightforward, with as few steps as possible. Simply scanning a rewards card at checkout to get discounts, like the latest Tesco Clubcard prices, is super convenient for customers. No one wants to download an app, to get a coupon, to convert it at the checkout (only to find they’ve not bought the right qualifying products).
With value communications, less really is better, for your customers, your colleagues and your business. Ultimately, if it’s done well everyone will feel empowered.
