Series: Using coupons, offers and specials properly – Part 2

One of the challenges that Durham, NC area businesses face is converting a shopper into a sale. When you further explore the fact that there is so much competition for the same product or service, getting that shopper to commit to the sale becomes even more challenging. One of the more proven concepts for conversion is the call to action. In the last article we looked at the need of having your call to action with an expiration as part of the three basic parts of an effective call to action.

This article we will look at the second successful criteria: being competitive.

Having the Competitive Offer

Stack of receipt'sThis article and this author cannot stress enough the fact that your call to action be competitive. If you just match what your Durham, NC area business competitor is doing, it’s a stalemate; effectively making your call to action completely null and void. Being competitive doesn’t mean to match what everyone else is doing, it means to do better.

The purpose of a competitive call to action

Let’s face it, a call to action is not meant to become the everyday low price. A called action is meant to change your Durham, NC area customer’s buying habits so that they might experience your price, your product or service and the customer experience that you offer. As price is one of the most important of these factors, it is why we are spending so much time discussing it. If you want your call to action to be competitive with the purpose of changing a customer’s buying habits it must be worth your  area customer’s time to change.

Example: Hair salon customers in the Durham, NC area are very loyal; so if you are going to sway them to come to your business your call to action will need to be aggressive to get them to try another business.

Industry market data consistently shows that anything less than 15% of the perceived product or service value is simply not enough to sway them to change their buying habits. You must also keep in mind that if your Durham, NC area competitor is running the same offer is you are, it forces the customer to evaluate the offer with a different set of criteria. (see the business trifecta)

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When you can incorporate the word “free” into your Durham, NC area’s call to action offer it significantly increases the likelihood of success. However, what you are offering for free must also reward them for changing their buying habits. What you are offering for free must match or exceed the percentage off of 15% or more of the value of the product or service.

So when offering a free toaster with the purchase of $10,000 or more; don’t be surprised when it doesn’t motivate anyone to do business with you!

The Price Match Guarantee

Sale in storefrontSounds good doesn’t it? The price match guarantee has been around in the Durham, NC area or years as a way for businesses to remain competitive on the price however, it is a significant turn off for many time conscious consumers. Essentially you are letting these time conscious customers know that if they are unwilling to do your homework they may end up purchasing your product or service at a higher price.

Example: Best Buy in Durham, NC offers a price match guarantee meaning that you have to supply them information showing where that price is cheaper. For those customers that have the time to do the research, the this increases the likelihood of them purchasing all from the same store out of convenience.

As a comparison, Lowe’s Home Improvement in Durham, NC offers a low price guarantee; meaning that they have researchers that independently call to make sure that their pricing is consistently at or lower than their nearest competitors. This allows for the time conscious customer to shop more confidently.

When Local Experience Counts

Bull City Signs is a locally owned and operated sign company that utilizes the latest technology, top industry graphic design talent and state-of-the-art equipment and materials to produce our the very best product available in the Durham, NC. area (or anywhere else for that matter). We seek to build long-term relationships with our customers by treating every customer with respect, understanding the diversity of opinions and a partnering mindset desiring to see your business succeed. Call to let us quote your custom printed wallpaper today!

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