Monday, 1 November 2010

The Carrot or the Stick?? Which do your customers react to??

When promoting your products in the market place, what do your customers react to? Do they need incentives and the constant promotion of how the product will benefit them and all its great features, or do they need you to promote the consequences of not purchasing your products?

As an example, imagine you're marketing for an insurance company. You can promote all the benefits of being insured with your company, peace of mind, good interest rates, convenient, etc. Alternatively, you can promote the risks of not being insured, the cost if something does go wrong and you would need the insurance. Our brains don't generally function in the way that we can take both messages in succinctly within one advertisement, and so the key for the marketing department of that company would be to undertake thorough market research to determine which message, the benefits or the risk, works better with their target audience, and the implement that message in order to create a resonant and effective marketing campaign.

If you're marketing for a shoe company, should you promote the benefit of how the shoe can improve your performance or warn that the audience will fall behind their competitors if they don't purchase the shoe? Local cafe, the benefits of fresh, good tasting food or the risk of going about your day without proper nourishment?

Finding the answer to this question will allow you to create consistent and memorable marketing campaigns which will drive sales and create a distinctive brand ethos.

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