Do Rewards make you want to switch brands too…!!

Do Rewards make you want to switch brands too…!!

Offers play a major role in any brand’s life. These lucrative benefits make the prospects try a new product and that becomes the brand’s entry point into their customer’s lives. A product offering discounts definitely has an edge over its competitive products which does not offer any benefits. These benefits attract the consumers be it a prospect or an existing one.

These offers and rewards have to be strategically designed to suit the audience. Some targets are less motivated towards such offers whereas some prefer fewer but bigger discounts and are ready to wait for the seasonal discounts. So, certain brands do not offer discounts/offers in order to increase the perceived value of their products whereas few of them focus on loyalty discounts.

Although,  studies show that 4 in 10 consumers are willing to move to another product in search of discounts but, it is also said that millennials are often less attracted towards offers and discounts in comparison to the generation before and after them. Hence, the decision has to be a wise one and well thought of.  These  rewards through Offers and discounts are good for inception and at times retention but using this in  the long run may tarnish the brand image and the customers may lose value in the product. So a perfect balance has to be struck.

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