How to stand out from the Black Friday noise
Posted by emma.critchley | 20 November
This Friday (27th November) we will experience brand cruelty of the highest order. Retailers across the UK will be putting their reputation on the line, slashing prices and devaluing their products in a potentially irreversible sacrifice of brand prestige, in the name of Black Friday.
This move aims to increase sales in the run up to Christmas, however is this surge of aggressive discounting a viable strategy when you consider the negative publicity and poor consumer experience it is renowned for? Do consumers really want to be battling it out over the last remaining cut price television? Do they want to feel pressured into buying things they don’t really need? At TLC we know they don’t, and we’re not alone. High street giants have started to wise up by reducing their participation or scraping Black Friday all together.
Asda have realised that adding value over a longer period of time on items their customers actually need is far more effective in driving sustained customer loyalty. Once advocates of Black Friday, bosses of the supermarket chain have listened to their customers and realised that holding them hostage to a day of sales on non-essential items is simply not what they want. Increasing the amount of in store offers across everyday items not only encourages customers to return, but it constitutes to a more relaxed environment which, naturally increases browsing time and the opportunity to upsell.
It’s not just Asda who have ditched brand cruelty in support of a more sustained customer retention strategy. Argos, John Lewis, Mothercare, Primark and Oasis are all scaling back on the event after last year saw the weakest December sales growth since 2008. If we’ve learnt anything from 2014 it’s that Black Friday is nothing but a facade for successful sales growth. To achieve a long term continuous stream of healthy business, brands need to be looking at inventive ways to stand out from the discount noise.
And it just so happens we have the antidote to continued price promotions. Here at TLC we believe that value-added reward promotions offers consumers and brands a tangible, brand building alternative to discounting. With over 20 years’ experience, TLC’s approach has continuously proven that a for a fraction of the cost of price discounting activity, a value-add campaign offers brands positive content and builds emotional connections with their consumers. It’s why we keep winning awards and why brands such as Clarins, Continental, Kellogg’s and McDonald’s draw on our expertise to help them with everything from sales uplift and customer acquisition to customer retention and loyalty.
We’re so passionate about our mantra we’ve even created our very own spoof charity campaign to highlight the danger to brands of continued discounting and price cutting, and positioning TLC’s value-added rewards as the solution - Campaign for Added Value Everywhere.
Don’t fall into the Black Friday trap, and weaken your brand with continued discounting. Add true value and treat your customers to the rewards they really want by having a chat with us on 020 7725 6000