Can you afford to do nothing about the cost of living crisis?

Everybody is striving to maintain their world. Thoughts of a brighter future currently belong to a privileged few. Whether in business or domestic life it’s very clear that life is tough and toughening. So, what to do about it? Life goes on. But how? And how do you position yourself to add value when survival will be the watchword for many?

Here at Lock-in Marketing we are in it with everyone else. We recognise the economy will contract – how much, how fast, for how long? Anyone who claims to know, just ignore them would be our advice.  

And that’s the point. In all aspects of customer engagement – whether acquisition or retention – never does ‘one size fit all’. Helping customers in their hearts, minds and wallets demands a more granular marketing approach. One specific to the challenging customer dynamics brands face in the coming months. Whatever the sector, it is well-proven that promotional marketing is an essential aid when brands are facing severe headwinds. In short, tactical use of promotions are:

· Low marginal cost

· Quick to market

· Self-liquidating

· Targeted

· Flexible

Competition among brands is still fierce, people are still spending. Maybe less, maybe less often, maybe elsewhere in search of value. Value is at the heart of all our current client discussions – it’s shorter-term, tactical talk revolving around three things:

· How to plan, act and work smarter to

· Make budgets work harder so

· Customers get better value and feel better off?

The economics of promotional marketing are compelling. The effects on budgets can range from the effective to the spectacular. Solutions are relevant to specific products and markets – there are no square pegs in round holes. We would say this of course, but promotions and incentives correctly planned, deployed and managed maintain market share, profitability and customer activity. For example:

· Free energy to run your washing machine for a year

· FMCG on-pack or online promotions from as little as a few pence per pack

· Cash-back promotions effective with electricals, automotive, financial services sectors

· Rewards for behaviours - free pizza, coffee, breakfast etc to retain and maintain customer engagement

· Free MOT free Car wash or free fuel

We also believe that working together we can deliver true value to your customers and help each other. Adjustments are needed to navigate the volatility. There are no oven-ready, ready-mixed solutions.

A bespoke, targeted and timely promotion ticks all our criteria – helping minimise the adjustments customers make to maintain their lifestyles and ensuring they know you were there for them. So, be:

· Smarter – get more relevant to all customer segments

· Harder working – make lean budgets more effective

· Deliver better – value for both customers and bottom-line performance.

This can all start by taking a smart first step.

Call us.

Together we can deliver for your customers and maintain our worlds. Doing nothing is not an option.