(DIM).
This new trend is helping companies increase their response and attract more customers, offsetting the negative impact of inflation.
Why should you consider Defensive Inflation Marketing?
A growing number of companies recognize that we are set to experience increasing inflation worries for 2024 and a long period of stagflation.
Consumer costs are up, and your customer knows prices are not coming down—The highest increase in 40 years.
So, your customer is cutting back on purchases just to break even.
That’s why many more companies in 2024 will be doing Defensive Inflation Marketing (DIM).
DIM is increasing perceived value. Strengthening your offer is one of the easiest ways to do this.
For example, add:
- A great guarantee
- Free shipping
- Use premiums
- Offer 2 for 1 or buy 2 get 1 free
- Give a generous discount
- A senior discount
- Special VIP status
A growing trend in consumer purchasing is buy now, pay later.
Because consumers are cutting back on their purchases or looking for a low-cost alternative, they are hurting and looking for a perceived “good deal.”
Remember, the average credit card interest rate has increased by 22.4% as more people cannot pay off their balances.
63% of consumers can’t handle a $500 emergency without going into debt.
With consumer insecurity at an all-time high, can you afford not to incorporate DIM into your marketing strategies?
If you want to learn more about how to market to your prospect despite inflation effectively, please do not hesitate to give Michael Oppenheimer a call at 615-933-4647 or email him at [email protected]
