Why do consumers seek out deals? The obvious reason is to save money. Regardless of a customer’s financial resources, consumers like to save money. When you give customers the perception that you are saving them time, money and frustration in identifying and connecting with the products and services they desire, it is appreciated. When consumers appreciate what your business does for them, they have a higher tendency to tell others about their great experience. In today’s high inflation economy, consumers are paying higher prices in almost every industry. So what can you do to let your customer’s know that you are there for them when they only have so many discretionary dollars to spend in the economy? If your business afford to do so, offer discounts and value added services to your offering. What consumers want to know, more than ever, is that you have their backs when the goods and services they seek are costing them more.
Inflation can be found in many forms. Higher prices, smaller product sizes for the same price, added fees in addition to the product or service cost and lower supply. If you are a consumer, you are most likely doing more searching for businesses that offer lower prices with equivalent quality in order to stretch your budget dollars. Supply and demand can have a tremendous effect on availability and cost for a consumer so more time is spent researching what other options are available when a product or service has priced itself “out of” consideration. When a good deal is found, consumers tend to go out of their way to let others know in there network where and how to find that same deal. Remember the term “Social Enrichment”? We feel good when we know we have helped those close to us save time, money and effort looking for goods and services that are important to them.
Customer referrals date back to the start of commerce between businesses and consumers who seek out goods and services. Customer referrals cover so many positive aspects of why people go out of their way to help others save time, money and search costs. Being referred by a trusted source can make all the difference in the world in getting what you want and need on often better terms than without a referral. In today’s economy that is seeing higher prices on almost every commodity available to the public, being referred to a source that can save you money increases your purchasing power. Networks and being part of one that can alert you of great deals are all that more important in today’s high inflation and low supply environment. The faster and more efficiently you can connect with your contacts with the details of a great deal the more valuable that deal becomes. That is what creates value. Offering your customers value in today’s high inflation environment is more important than ever. You customers will thank you and will become more loyal to your business and brand when you show them that you want to help them save money, time and frustration. A great customer experience never goes out of style and benefits everyone!
Dealium is SaaS B2B Referral Marketing Automation Technology that directly connects small businesses with new customers through our proprietary algorithm-based referral code sharing technology incorporated with the customer’s SMS, Email & Social Media.
Dealium creates brand awareness, brand exposure & new customer acquisition opportunities for our small business subscribers while allowing their customers to save time, money & oftentimes frustration searching for reputable local small businesses.
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