Limiting Limited Time Offers

So I’m rifling through an envelope of coupons and encounter one saying “Hurry! Limited Time Offer.” There’s no expiration date, but they’re obviously trying to create a sense of immediacy among prospective customers.

Consumers often feel a sense of urgency when they see “limited stock available” or “clearance sales.” The idea is that failure to take immediate action might mean losing a valuable deal. It can even apply to items and brands typically ignored by that customer.

The fear of missing out (FOMO, in industry terms) is a powerful marketing tool. It’s a perception that others are having more fun, living better lives, or experiencing more than you are. It involves a deep sense of envy, affects self-esteem, and can be exacerbated by social media.

FOMO is a real phenomenon that is becoming increasingly common, and most people will go to GREAT lengths to avoid the stress it brings. This oftentimes leads to buying stuff they may not even need.

But about that coupon; last month this same company made the EXACT same offer. In fact, they’ve done it every month I can remember over the past several years.

I respect their marketing department using an offer that apparently works for them. Only anyone who’s been paying attention understands this isn’t REALLY a limited time offer; merely the same offer repeating repeatedly.

And not that I’m being asked, but that offer may be getting tired. Because if your audience sees the same ad month after month, after a while they won’t even notice it anymore.

To counter this problem, they may want to consider testing alternate marketing strategies to see if one of them improves sales.

A two-for-one offer could be tested next month. Or a sweepstakes. Or a chance to get something free.

Conceivably, a different headline or graphic might be helpful. Or even (call me crazy) a real expiration date.

Using the standard offer for three months, then testing something new once, is a safe way to ensure sales aren’t negatively impacted.

Assuming they’re tracking their results and using the same mailer, they’ll quickly know if another offer is better or not.

They could even make their traditional offer using different designs or color schemes, just to make it stand out a bit more.

Doing something different with your marketing. What a concept, huh?

With that said, I wish you a week of profitable marketing.

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