Zig while others Zag this Black Friday
This episode with Oliver Payne from The Hunting Dynast explores the fascinating interplay of behavioral science and marketing and what brands can deploy into their Black Friday sales.
The conversation dives deep into effective communication strategies, handling ambiguous situations, and highlights the criticality of preserving brand equity, particularly during the sales season.
Key Takeaways:
Behavioral science plays a crucial role in marketing, especially during big sale events like Black Friday. Understanding how customers make decisions and how they are influenced by factors such as scarcity, time limits, and the actions of others can greatly enhance a brand's marketing strategy
Communication is key in cutting through the noise during a busy sales season. Effective communication strategies should consider not just what is being said, but how it's being said, with a focus on emotional connection, clarity, and proximity. This can help messages resonate more with the audience and lead to better sales outcomes
Discounts and sales should be used judiciously to avoid damaging brand equity. The use of discounts can be a powerful tool in influencing customer behavior, but it's important to consider the long-term implications of such strategies on the perceived value of the brand. Therefore, brands should look for ways to offer value and create excitement without heavily relying on discounts.
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