I subscribe to the email marketing list of one company not because I want to buy products from them but that they show a willingness to try new ideas. I have included a number of them on these pages and here comes another. They mess about with their pricing.
None of their strategies are unique but it is unusual to find a company trying so many. Here are a few:
They give a price, let’s run with £25, and then offer a list of a dozen or so items, each individually priced, varying for a maximum of £20 to a few items at £2. The customer can choose any of them up to the maximum price. It was easy enough to hit the full £25 but it would be probable that you would buy something that you would not have in normal circumstances. There was no argument that the individual items were competitively priced but everyone would have to buy a number to get full value.
The Subject Line of the marketing email had Free in it, and the heading followed suit. It was described as a ‘game’. The subscriber had to read through the email looking for clues to get the free item. In doing so they would have to read the promotional copy closely to get the answer. The item was both free and fairly useful. This one ‘caught’ me. I had no intention of buying but saw an item I wanted.
3/ Make an offer
This is a ploy that is especially useful where the items are of highish value. In essence it is a lottery, the highest offers winning, the company having a published reserve. The items seemed to have been selected with care to appeal to a particular segmented email marketing list as I wanted them all. The company only offered half a dozen of each article. I researched the items and made a couple of bids but didn't win. The goods were awarded to the top six bidders with the lowest wining price being the one charged.
My assumption was that the information gained about me was of great value to them. I told them what items I wanted and what price I was willing to pay.
4/ One size fits all
This is a fairly common ploy but is still likely to get people reading your emails. A list of items is supplied each with the same price. This company takes it a little further by having a reduction if two different items are bought at the same time. It was, apparently, not that successful for them as they haven’t repeated it in over a year. However, I think it has possibilities. The items need to be picked with care of course.
5/ Open the box
I’ve reported on this one before. The actual item is not named, only the reduction, for instance 25, 50 or 60% off the last price offered to you. Even knowing that this was a shelf-clearing exercise, I found it fun.
The benefits to the company include the emails being anticipated, information, high open rates and so much more. Be different.