How Brands Are Delivering the Savings Consumers Love
Marketers constantly have to adjust their tactics in response to evolving consumer behaviors, so it’s critical that they keep up with the latest trends.
Jess Shuman, Quotient’s vertical leader for the household category, recently hosted a session at the Association of Coupon Professionals (ACP) 2022 Industry Coupon Conference about how brands can leverage promotions to connect with modern consumers. Keep reading to learn the top takeaways.
Promotions Have Gone from ‘Clip’ to ‘Click’
Building on the shift that accelerated during the pandemic, the promotions space continues to see changing consumer preferences in how they interact with coupons, rebates and other money-saving methods. Shuman explained that consumers still seek value—particularly as they battle today’s rising prices—but they are finding savings in new ways, creating an explosion in digital promotions.
As consumers navigate inflationary pressures, their shopping patterns increasingly involve making more frequent trips to stores and buying less per trip, Shuman said. With these selective and price-sensitive shoppers, if brands don’t adjust pricing or use promotions to deliver value, there’s real risk that consumers won’t stay loyal and instead trade down to less expensive or private-label competition. This dynamic illustrates why it’s critical for brands to take advantage of digital promotions and appeal to value-seekers as part of an omnichannel strategy.
The Quotient Promotions Network delivered $2.62 billion in consumer savings during the second quarter of 2022.
Delivering Value Across the Digital Ecosystem
Promotions are an essential tactic to meet modern consumers with value at the many touchpoints across their nonlinear purchase journeys. Shuman recommended that brands lead with national promotions and combine promotions with media—sharing value-centric messages while delivering the savings consumers depend on.
Shuman noted how the addition of media exposure can amplify the effectiveness of promotions, sharing an eye-opening stat from Quotient’s internal reporting that when consumers are exposed to media during their promotion journey, advertisers on average see a 2.3-times increase in the consumers’ probability of buying the product in store.
Advertisers can leverage Quotient’s expansive promotions and media networks to deliver the right message to consumers at the right time and place. One of the touchpoints that makes this strategy possible is Quotient’s direct-to-consumer Shopmium app, where consumers can earn cash back on products they love and on new brands they discover in the app. Once campaigns are in progress, Quotient’s measurement solution provides advertisers with campaign data—helping them to better understand their consumers and optimize future promotions.
Ready to maximize your promotions strategy? Contact us today at [email protected] to learn how to take advantage of our powerful promotions network to achieve your brand goals.