The Psychology of Promotions
In order for your promotions to intrigue, resonate, and acquire customers, we need to understand what makes customers tick – also known as consumer behaviour.
Consumer behaviour is the study of actions consumers take in the marketplace and their underlying motivations.
Consumer behaviour is the reason why some homeowners select the first contractor they come across, others strictly rely on the recommendation of friends, and some spend months evaluating alternatives before purchasing.
There are four categories of factors that influence a consumers buying behaviour;
For the purpose of this discussion, we’ll hone in on the psychological factors.
We’re not saying that you need to become a psychologist in order to strategize sales promotions, but there are psychological considerations that could mean the difference between promotions hitting the right note or falling flat. These include;
Motivation: Motivation is the driving factor behind consumers’ developing purchase behavior. To increase sales and encourage purchase, brands should reinforce whatever need is driving the motivation in the consumer’s mind.
Perception: Our perception of a product or brand is shaped by the information we gather with every experience. This includes advertisements, reviews, and promotions. This perception forms the image a customer has of your product in their mind – heavily influencing their purchase decision.
Learning: Each time we purchase a product, we gain a deeper knowledge about it through experience. We may also avoid making particular purchases if they’ve required considerable time or money investments in the past.
Attitudes and Beliefs: Through a variety of internal and external factors, individuals develop beliefs and attitudes over time that influence their buying behavior – also shaping the brand image. Brands may be able to change these attitudes and beliefs by how they position their product in the market.
In order to optimize your marketing strategy and invest your dollars as profitably as possible, considering the buying behavior of your ideal customer is time worth spending. Whether the goal of your promotion is booking a call, scheduling an assessment, or making a purchase.
Write Promotions Like the Pros
With a solid grasp on what makes homeowners tick, what influences their gravity towards the brand and shapes their purchasing behaviors, let’s take a look at some best practices when it comes to writing the perfect promotion.
Remember, promotions are less about closing a new sale, and more about catching a lead’s attention, getting them through the door, and starting a conversation.
People hate to feel like they’re missing out. If they think other homeowners are benefitting from doing business with you, they’ll want to learn more about getting a piece of the action.
Show Previous Price
If you plan on featuring your promotion on a graphic, include the original price so homeowners have a reference price point and perceived value of savings. Plus, consumers appreciate businesses who are transparent – promotions-wise and beyond.
Different promotional offerings will resonate with different audiences. For example, if you’re promoting services with a higher ticket price, targeting luxury-oriented clients, opt for an additional free service or product. If you’re promoting lower ticket services to price-conscious clients, they’ll be more enticed with discounts.
Words with Impact
You only have a short window to grab consumers’ interest, so the copy used to articulate your promotion is paramount. In the case of Google ads, headlines cannot exceed 30 characters and descriptive lines cannot exceed 90 characters. So choose your words carefully.
Now, let’s get to the good stuff. What you’ve really been waiting for…
We’re sharing 6 of some of our top-performing client promotional offers from 2021. We’ll outline what makes them a hit with homeowners to hopefully inspire your own future promotions!
6 Promotions and Why They Work
Attracts a price-sensitive lead. Not ideal for leads whose top priority is quality and frees up money for other things. Key wording, ‘Starting at…’.
Highlights reputable, quality material and attracts leads who may otherwise not have the budget to work with contractors who use premier products.
Windows & Doors
Combo increases perceived value of promotion and attractiveness to leads, generating a higher number of clicks.
Attracts leads who are price-sensitive and/or those who may be seeking a last-minute, unexpected bathroom project (ie. damage) and do not have the immediate financial withband.
Combining bonus accessories to increase perceived value with delaying interest/payments makes projects more accessible to a wider net of leads.
Offering a free electronic to enjoy in the space (or appliance, home service etc.) helps homeowners visualize the end goal of their project. In this case, a free high-definition television with a basement renovation.
Paid Ads & Promotions :
A Winning Recipe
Once you’ve crafted the perfect promotion, the next step is to decide how you’ll get them in front of homeowners online.
Paid ads are the best vehicle to showcase promotions because they ensure your service offerings are in the right place at the right time.
In fact, leads who click on paid ads are 50% more likely to purchase than organic visitors. By leveraging paid ads with online promotions, you can scale your business profitably and consistently.
Promotions are a vital element for any contractor’s marketing play, and with the right delivery, set the stage for enormous growth and long-term success.