How can you tell if an offer is good, i.e., is a strong consumer offer that makes money?
The answer is when the organization making the offer continues to use the offer. The case in point is Chrysler’s “Let’s Refuel America” $2.99/gallon gasoline offer, which I wrote about recently.
The offer was supposed to expire in early June, but based on early results–including 25% more web traffic and a 34% increase in Internet leads–the promotion has been extended through July 7th.
Apparently Chrysler has re-crunched the numbers and found the financial results worth continuing making what’s turned out to be a very strong offer. This is good news for the car buyer looking for a deal, the dealers who like the floor traffic and is good for Chrysler, as far as “moving the metal” goes. (Overall, though, Chrysler is still in trouble.)
The takeaway is that Chrysler’s promotion has, once again, proven the old direct response maxim: If you want to dramatically increase your response, dramatically increase your offer.
When was the last time you looked at your offer? How might you reallocate your offer cost to create a more exciting offer that’s a true consumer benefit?
photo credit: epicharmus