The Bounce Rate Podcast

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Music.

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We’re glad to be here. I’m feeling good. James, Eric, how are you feeling today? I’m feeling happy.

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Yesterday I went home. I walked in. I scared my wife because I said, I am all that is man.

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Because she told me that the garage door was broken. And kudos to her.

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She knew how to unhook it and close it by herself.

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But then I got home and realized that she had left a broom in front of the sensor.

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But you spent some time in there like made it look like you did

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some work no no no i just i just fix it immediately and i went

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in and yelled i am all that is man as as uh

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well i i think you’ve been in a good mood this week

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like is there something different yeah

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no there you know i i am in

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a good mood thanks for noticing i appreciate that not that you’re not normally

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did you notice my cologne change no i did not oh all

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right hold on we don’t get that close yeah no

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all right i can’t tell you’re wearing clown i i

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will admit that sometimes i think

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it’s called like husband or boyfriend stolen.

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Valor where they’re assuming

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well for instance this week we

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got this is really exciting we got one of

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those gate clicking

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things the automatic gate openers

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the clicker the clicker if you will and there

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it came with instructions with this long thing about

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how to program it and my partner

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she was like i i can’t do this roger can you figure this

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out and i’m like sure i can i can figure this out

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did you use the instructions i so here’s

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what’s great about it in the instructions the first page

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detailed like getting started

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and it said open it up and change

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the like the dip switches the dip switches yeah which that was just a matter

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of dink dink and then i did it and then i was like oh it works and i gave it

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to her and she thought that i was some kind of computer hacker from the from

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the 90s nice and you didn’t tell that you used the instructions.

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Right? I didn’t correct her. Nice.

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But you have to understand that even with the instructions, it does feel like

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you’re a bit of a… Oh, absolutely.

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No, no, no, no. Like there’s nothing, don’t get me wrong, there’s nothing wrong

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with using every resource you can.

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But like any good magic trick, don’t reveal your sources.

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We used to have one garage door opener, and now we have two garage door openers.

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Moving up in the world. Wow. It is, but- A two garage door opener family.

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Yeah. I wish we could have just paid for one and got two.

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Bogo’s on my mind. See, but that’s because, well, we’re getting into the meat. Yeah.

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Let’s- Today, we are going to talk about offers. So there is a science to offers

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and there’s an art to offers.

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And both of those aspects are areas that indoor media has delved through,

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has analyzed for decades.

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So are you telling all the cartvertising customers and sales reps to turn off the podcast now?

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I’m telling them to turn it up. I guess the big question here is when you advertise,

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do you always have to have an offer? Is it always about an offer, right?

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And I just wanted to share a quick little story here.

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Eric and I live somewhat close by and there was this restaurant that opened

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up. Cool little building. It was Moroccan food. Very colorful.

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Drove by it for like a year. Never went in. Always told myself I was going to go in.

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I do like the detail about the other nine places that have also been in that

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exact same spot. Yeah, nothing last. None of them have made it.

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So part of me was like waiting to see what comes next. Yeah,

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right, right, right. But, you know, that spot is cursed.

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But I was having lunch with a buddy and somehow it came up and he’s like,

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oh, that place is awesome.

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He’s like, it’s like Chipotle, but it’s very similar to Mediterranean food.

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And I was like, oh, okay. Well, I went there the next day.

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Loved it. Been back a few times since. It wasn’t an offer that got me there,

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right? It was the awareness.

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It was the fact that as soon as you walked in, somebody said, this is Zowa.

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And then they kicked you into a well I mean didn’t happen quite like that but you know similar,

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So, so yeah. So let’s talk about like when you, you know, discounts,

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I think you’ve got a good thing there, right?

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Brand versus, versus direct response, direct responses.

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I mean, break that down. It’s exactly what it sounds. You want somebody to take

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a, take, do a response directly after seeing the ad.

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Do you know who my favorite example of this? I do this all the time.

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Coca-Cola, my favorite, well, honestly, probably my favorite company because

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their drink is addictive and you crave it, no matter what happens.

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And the more, never mind. Anyway. I wonder what it was like when it actually

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had the Coke. Okay, never mind. Yes.

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So, Coca-Cola. They do both brand ads and direct response. And you see it all the time.

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What’s the song? Somebody’s going to have to sing it.

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Always Coca-Cola. No. What? No, the further back.

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I’d like to buy the… Okay, I’m going to stop there.

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So, right, that song song, clearly no direct response.

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When you finish the song, you don’t say, oh crap, I should go to the store right

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now and buy Coke. It’s brand advertising.

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Coca-Cola is one of the most recognizable brands in the entire world.

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They sell more Coke than anybody does any other kind of soft drink and so forth,

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right? Not those losers at Pepsi.

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So they’re everywhere, right? You go to the most remote part of Africa on a

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safari. They’re going to serve you a Coke, right? Crazy.

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They still do brand advertising. Hey, Coca-Cola right here.

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They have that huge sign with the bottle on it with the drips of condensation. Amazing, right?

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Then you go to a gas station, and what ad do you see there for Coke?

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You’re like at the pump sometimes, and it’s like buy this and this and get a

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free Coke or some kind of discount for Coke.

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Yeah, it’s right there. It’s like, what are you doing sitting here pumping gas?

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Go buy a Coke now.

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And Eric does. Yeah, absolutely. Okay. So I’m a little susceptible.

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But that’s direct response, right? Go do it now.

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Here’s what you’re going to get in return. And both are important.

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When you are a small business owner, it’s probably pretty easy to say,

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well, I don’t want to do a direct response discount because I don’t want to lose money.

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And then you might say, well, I don’t want to actually do a brand ad because

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that’s not going to get people in the door.

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And the answer is both of those have to work together in order to actually see any growth.

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Yeah, and one more thing, you know, if you’re a pizza restaurant,

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I mean, obviously you need Brandon, right? Like you got to build your story, your image.

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But there’s other businesses out there that are kind of pioneers for something

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new. And I do think for them…

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You know, educational ads, which are Brandon, are super important.

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So keep that in mind. Like, for example, you know, one of the first ads I worked

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with here at Indoor Media, one of the companies was a stretch lab, right?

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And most people don’t know about a stretch lab. You literally go in kind of

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like to get a massage, but they stretch you out.

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So in their campaign, I was like, look, you need to have some education.

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You can have multiple ads. This was a digital boost campaign,

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but you can have an offer, but have some educational ones so that when people

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look at it quickly, they understand what you’re offering.

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Yeah. I remember you brought that.

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At some point, we were working on that ad. You were working on that campaign.

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And their original branding ad was about, hey, come in and buy one stretch, get one free.

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I don’t remember what the original was. And then you went back to the owner

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and you talked to them for a little while.

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And you said, look, it’s not about stretching. It’s about what that does for

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the person that comes in and gets stretched, right?

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Gain more flexibility, improve your performance. And so that you change the

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ad to that, I always thought that was really cool.

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Why give a discount? It’s kind of implied that it’s something to do as a business

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owner, but what’s the psychology behind it?

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Number one, a lot of people will wonder, is this cheapening the value of my product?

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I’ve certainly had interactions with someone and i

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say oh well we should reduce that

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you know have a 20 off for this and they

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said absolutely not this is worth 20 bucks

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and if we reduce that if we spread out you know all around the city that we’re

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the discount place then people are going to look at our brand in a in a maybe

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a lower regard is there truth to that you know yeah we hear this a lot this comes up a lot.

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People worried about offering a discount, right?

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You know, how does that going to affect their bottom line?

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Yeah, we do. Yeah, we do. We do hear that a lot.

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So here, this will kind of highlight it. If you’re going on a first date,

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is it okay to use a coupon?

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I say yes. But, you know, I mean, most people are going to say no. Have you?

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I don’t. Well, yeah, it’s been a long time since you’ve done a first date.

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Yeah, I haven’t done a first date in a long time.

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I have. And it did not deter the progression of the relationship. Hold on.

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I’m lying. I would totally not use a coupon on the first date.

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You know what I mean? Like, I have to be true here.

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I didn’t tell them I was using it. Oh, you got sneaky. Okay, wait a second.

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Wait a second. That doesn’t count. That doesn’t count. Kind of like,

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would you be like at the meal and be like, okay, well, why don’t we get this?

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And hey, I have a coupon for free fries or chili cheese, whatever.

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Hey, man, you know, I guess we all do a little false advertisement in the beginning.

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Just a little bit. Hey, Cindy, let’s go to the movie. Maybe I got buy one,

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get one free for the next Mission Impossible. Oh, Cindy, can you not get that

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size coat? Because my coupon doesn’t cover that.

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Can we get this instead?

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See, I’m more likely to take a two-for-one Valentine’s coupon and ask if I could just use it for me.

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If I don’t have someone. But I think that’s an interesting way to look at it

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because, of course, the first date, I did not mention I was using a promotional offer.

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But second and third date, I did mention it. And that actually made the date more fun. Absolutely.

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And it made it so that we were more kind of on the same page.

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And you got yourself a keeper then. There we go. Yeah.

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It was a litmus test. Yeah. If they had said, what?

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No. You want to use a coupon and you take me out? I’m so special.

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I’m special. You got to spend spend to get me. Exactly.

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If if that had happened, I would have known, oh, you know what?

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We’re not super compatible.

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But when I did bring it up and they said, oh, my gosh, what a great bargain.

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Then all of a sudden we were in Simpatico. So there’s a bit of there’s also benefits to it.

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Well, I mean, and there’s, you know, coupons are going to be different from,

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you know, a fast food or quick serve restaurant versus your fine dining experience. Right.

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Not that there aren’t fine dining coupons. It’s just going to probably be a

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little different, right?

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Yeah. So I think that’s it. I think it comes down to, in terms of cheapening

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your brand, one, you have to be a brand that is very exclusive and is providing that experience.

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I think that’s the main thing that people get worried about.

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But I’m here to tell you, post-COVID, in this economy…

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You know, people are not feeling bad about brands that use coupons.

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Yeah. We’re moving into maybe perhaps a golden age of promotional offers.

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That’s right. And a lot of companies are probably worried about their bottom line.

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And who’s most important to their bottom line? Of the people that we just described,

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we described people at the very beginning coming in, not using a coupon,

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having that brand awareness.

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Oh, I want to have that new experience at that Moroccan restaurant.

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Right. And that was Great for James.

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He got word of mouth branding, or advertising, the absolute best advertising

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out there. So he got word of mouth advertising, no offer.

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He probably didn’t know how much Moroccan food should cost in the first place.

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True, no idea. So it didn’t really matter.

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He went in. Now, what’s going to drive you back?

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Great question, right? So I think, you know. Hopefully a good experience.

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Good experience, good food, obviously, is going to drive me back.

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But I think this is where you can use offers to start driving consumer behavior.

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Sorry. I just go back when I feel like eating it.

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But it wouldn’t hurt for them to send me a text message saying,

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hey, come in today and blah, blah, blah.

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Because I don’t think about it a lot. I think about it when I drive past it,

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you know, but I don’t live right there. I’m a few miles away.

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So that would definitely bring me in more often.

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And it turns out, no matter how good that Moroccan restaurant was,

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I’ve been feeding myself for 50 odd years.

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So I have my establishments, right? I’ve got the ones I go to on a regular basis

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for date night with my wife, Friday night, whatever, cool off, lunches, whatever.

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I already have my set. You got to break into that set. It’s like finding a new friend group.

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Discounts and promotions are a much better tool when you are,

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like you said, driving behavior.

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I think about my local Chick-fil-A. They’ve started doing…

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Collaboration will collaborate they they correlate their

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discounts with sports events so astros

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you know get like i’m not a sport head but the

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astros are a team good job good job the astros are indeed a baseball team but

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oh and they play baseball that’s very good roger congratulations all too bad

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so they get they they get a home run i don’t know and then i’ll get a message

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that says you get three free chicken strips.

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This Chick-fil-A is not making any money on those chicken strips.

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But what is happening is I am looking at the app.

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I am seeing they have a new dragon fruit lemonade and they know I am going to want to try that.

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I also might even feel guilty about getting something for free and I might add

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something on there, which I normally do. I’ll add a cone or something.

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Yeah, definitely like a $3 Coke too. Yeah, I mean, that’s really,

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it’s funny you say that because I’ve gotten in the habit now that the time I

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use my Chick-fil-A points is to buy just a Coke through the drive-thru.

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And it is always an awkward experience. I’m like, hi, yeah, Eric S.

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And I have a Coke. Just a Coke. And it’s free.

00:15:33.678 –> 00:15:37.978
That’s probably a relief for them that they don’t have to deal with someone with a demanding offer.

00:15:38.958 –> 00:15:44.698
Well, let’s talk about, I love that. Yeah, great example of Chick-fil-A by using

00:15:44.698 –> 00:15:48.018
an offer to drive consumer behavior.

00:15:48.638 –> 00:15:52.478
Let’s talk about, we talk about this all the time, the worst case, right?

00:15:53.604 –> 00:15:56.404
Say, let’s just pick, let’s just talk about this Moroccan restaurant, right?

00:15:56.784 –> 00:16:00.804
The worst thing is I go in there. It’s my third time in, right?

00:16:00.904 –> 00:16:03.864
They had set up some, you know, maybe they have square Clover,

00:16:03.984 –> 00:16:06.444
right? It has a default loyalty plan.

00:16:06.824 –> 00:16:10.264
And I’m checking out my third time and it goes, Hey, you have enough points.

00:16:10.324 –> 00:16:13.944
You get $5 off your meal. And I’m like, Oh, sweet. Yay.

00:16:14.684 –> 00:16:19.384
What benefit did that have to that business? Right?

00:16:19.604 –> 00:16:24.184
They lost money on something I already was going to buy. It didn’t drive me in.

00:16:24.304 –> 00:16:28.004
If they had offered that prior to me going in, hey, we haven’t seen you in a

00:16:28.004 –> 00:16:29.324
while. Here’s $5, come back.

00:16:29.524 –> 00:16:33.064
That drives me in. So we see that time and time again.

00:16:33.564 –> 00:16:37.324
Yeah, the default is at fault. I like that. Default’s at fault.

00:16:37.904 –> 00:16:40.944
Yeah, because that’s exactly right.

00:16:41.264 –> 00:16:46.224
Actually, speaking of feeling guilty, there’s a little restaurant around the

00:16:46.224 –> 00:16:48.364
corner from where we work, Freddy’s Cafe.

00:16:48.884 –> 00:16:51.584
Great people there. Shout out to the owner, Vanessa.

00:16:52.424 –> 00:16:58.584
And I go, and I told her, I said, look, you’re just losing money on this property.

00:16:59.544 –> 00:17:04.544
Yeah, I walk in, and every fifth visit, I say, oh, great. I got $5 off.

00:17:05.004 –> 00:17:07.944
Doesn’t change anything in my life. I didn’t order anything extra.

00:17:08.564 –> 00:17:11.844
Nothing happened to it. I’m just like, okay. I usually do give a little bigger

00:17:11.844 –> 00:17:14.184
tip when I get the $5 off, and that’s it.

00:17:14.464 –> 00:17:18.124
And guess what? I just went in there yesterday, and they had turned that feature off.

00:17:19.264 –> 00:17:22.164
Dang, you ruined it for all of us, Eric. Yeah, darn it. I’m like,

00:17:22.264 –> 00:17:28.564
well, you know, so getting an ROI on your coupon is obviously really important.

00:17:28.704 –> 00:17:30.044
Otherwise there’s no point in doing it.

00:17:30.284 –> 00:17:35.564
And what you give the example of Chick-fil-A is what, like when grocery stores

00:17:35.564 –> 00:17:37.424
are in retail, you call that a loss leader.

00:17:38.144 –> 00:17:43.464
So you give away, you, you, you’re actually going to lose money on the dollar 45.

00:17:44.004 –> 00:17:46.884
Yes, absolutely. Right. You’re going to lose money on the rotisserie chicken.

00:17:47.044 –> 00:17:50.844
Costco is a great one. It’s the hot dog. Oh yeah. They actually tried increasing

00:17:50.844 –> 00:17:54.404
the price. They were like, we can’t. It doesn’t matter. It has to stay a dollar.

00:17:54.804 –> 00:17:59.964
And so they lose money on it. It doesn’t matter because then you go buy 64 rolls of toilet paper.

00:18:00.204 –> 00:18:04.384
A huge basket of stuff. Yeah. Not only that, but…

00:18:05.325 –> 00:18:11.425
I, for about, just crunching the numbers, for about, I’d say,

00:18:11.605 –> 00:18:15.425
five months, would go eat lunch at Costco.

00:18:15.425 –> 00:18:21.065
And I was like, I’m really cheating the system. Yeah. Because I can go in here

00:18:21.065 –> 00:18:22.265
and get it. Just like at the casino.

00:18:22.525 –> 00:18:26.825
Yeah. I’m getting this $1.50 hot dog, and it’s massive.

00:18:27.205 –> 00:18:31.725
And they don’t even check the ID. I can just go in there and get it for free.

00:18:32.745 –> 00:18:37.745
Then. Wait, do you have a membership? No. Oh, that’s that’s you remember.

00:18:37.865 –> 00:18:39.105
This is the sneaky guy. Yeah.

00:18:39.365 –> 00:18:41.565
I didn’t have a membership.

00:18:42.145 –> 00:18:44.685
But how do you get in? OK, go ahead. Well, that’s the thing.

00:18:44.785 –> 00:18:48.885
When you just say when at the local one, when they when you just say I’m going

00:18:48.885 –> 00:18:50.565
to the food court, they’re like, OK, oh,

00:18:51.505 –> 00:18:59.505
cut to a month ago, I did get an email that was like, hey, here’s this percentage off of a membership.

00:18:59.505 –> 00:19:02.685
And I shelled out whatever it was for this membership.

00:19:03.045 –> 00:19:05.125
So then I’m like doing the math.

00:19:05.545 –> 00:19:10.305
How many cheap hot dogs did it take to get me to move on this membership?

00:19:10.305 –> 00:19:13.245
And it’s probably way less than I would think.

00:19:13.445 –> 00:19:22.285
I mean, if I ate $10.50 hot dogs, that still… Doesn’t compare to what you

00:19:22.285 –> 00:19:23.445
just lost on the membership.

00:19:24.805 –> 00:19:28.065
What’s worse is now you’re going to use that membership to buy a bunch of stuff

00:19:28.065 –> 00:19:31.805
you didn’t need. I didn’t need. But there’s still tons of great stuff they have,

00:19:31.865 –> 00:19:33.865
too. And shout out to Costco.

00:19:34.305 –> 00:19:40.785
Here’s my point. I am happy about my membership. I don’t feel like I was tricked into doing something.

00:19:41.285 –> 00:19:44.905
I initially was like, oh, with this great value I’m getting,

00:19:45.105 –> 00:19:49.245
but it introduced me to another overall value.

00:19:49.565 –> 00:19:55.125
So there’s a way, I mean, when you’re strategic about it, it doesn’t feel like

00:19:55.125 –> 00:19:58.245
there’s trickery involved.

00:19:58.245 –> 00:20:06.645
You know, one of the most amazing influence customer behavior marketing campaign

00:20:06.645 –> 00:20:11.545
that I know of is Chewy’s dog food. The Chewy’s dog online website.

00:20:12.065 –> 00:20:17.645
Online food. Here’s what happens. You sign up for your dog food every week or

00:20:17.645 –> 00:20:18.925
month or whatever you get your dog food.

00:20:19.045 –> 00:20:21.425
It’s on a subscription, yada, yada, right? Goes great.

00:20:22.345 –> 00:20:24.105
What if your pet dies? Yeah.

00:20:25.139 –> 00:20:28.959
I mean, it’s going to happen. You find the best animals on the planet and they

00:20:28.959 –> 00:20:30.399
up and die on you. It’s horrible.

00:20:30.599 –> 00:20:34.999
And we’ve always had dogs. I love those things. So here’s what Chewy’s does.

00:20:36.039 –> 00:20:39.919
If your pet dies and you call in and write in and you say, hey,

00:20:39.999 –> 00:20:43.459
my pet died, they will discount you back your last dog food.

00:20:44.139 –> 00:20:49.399
Three days later, they send you a bouquet of flowers with a cart. What? No kidding.

00:20:50.139 –> 00:20:53.939
Wow. You will never buy dog food from anybody else. happening.

00:20:54.139 –> 00:20:56.099
Yeah, that’s impressive. I mean, it’s incredible.

00:20:56.319 –> 00:20:59.719
And it’s timing and it’s all about the timing and how can you make that work.

00:20:59.899 –> 00:21:03.419
So timing for offers is really important. I mean, that’s what we were kind of

00:21:03.419 –> 00:21:08.519
alluding to about getting it right after I’ve ordered doesn’t affect my behavior.

00:21:08.919 –> 00:21:15.979
Getting it maybe at a grocery store 1.7 times a week when I’m not actually thinking

00:21:15.979 –> 00:21:19.619
I’m going to go use it right now and I wasn’t on my way in anyway,

00:21:19.619 –> 00:21:22.919
because nobody says, oh, hey, I’d really like some pizza.

00:21:23.239 –> 00:21:26.979
Let me stop off and buy some, I don’t know, toothpaste so that I can get the

00:21:26.979 –> 00:21:28.939
coupon so they can go in and discount my pizza.

00:21:29.319 –> 00:21:32.739
But if I’m at the grocery store and I’m in a planning mode for the week and

00:21:32.739 –> 00:21:35.739
I’m thinking, you know, I’m like, hey, why don’t I just go get some pizza instead

00:21:35.739 –> 00:21:37.159
of making this thing at home?

00:21:37.659 –> 00:21:40.939
So that driving customer behavior is really important. Yeah,

00:21:41.179 –> 00:21:45.279
for sure. We’re talking about offers and we’re talking about driving consumer behavior.

00:21:45.899 –> 00:21:49.839
And ROI. And ROI, right? And part of that, we talked about frequency.

00:21:49.839 –> 00:21:53.279
We just talked about frequency. Also, ticket size, right?

00:21:53.839 –> 00:21:57.079
Get in customers to spend a little bit more.

00:21:58.412 –> 00:22:02.772
Is really, really important, right? So that could be your high-ticket items,

00:22:02.872 –> 00:22:04.112
getting them to test those out.

00:22:04.672 –> 00:22:07.652
Well, it’s the guilt factor, right? It’s the same thing we were talking about

00:22:07.652 –> 00:22:11.272
about the Coke. I go in, I get a free Coke, and then I’m like,

00:22:11.332 –> 00:22:12.432
well, I’ll get some fries.

00:22:12.912 –> 00:22:19.192
If it’s $5 off of something, that’s just free money for me, and I’m going to

00:22:19.192 –> 00:22:21.332
spend it like it’s Monopoly money right now.

00:22:21.832 –> 00:22:26.172
So I’ll go in, they’ll give me $5 off my meal, and I’ll say,

00:22:26.172 –> 00:22:28.072
well, I’ll try the chicken poppers. What the heck?

00:22:28.752 –> 00:22:32.292
And so again, you can really drive. So what’s really interesting about a lot

00:22:32.292 –> 00:22:37.172
of offers, if you structure them well, you’re sitting there worried about your

00:22:37.172 –> 00:22:39.512
ROI because you’re like, oh gosh, five off of 20.

00:22:39.612 –> 00:22:42.452
Let me do that math. That’s 25% off. Oh, can I do that?

00:22:42.852 –> 00:22:47.052
But that’s not what happens. The customer said, oh, my meal is normally 20.

00:22:47.332 –> 00:22:50.352
I’d like to try the chicken poppers, which maybe are five bucks.

00:22:50.572 –> 00:22:56.812
Now I’m at a $25 ticket. and all of a sudden I’m only at 20% instead of 25%

00:22:56.812 –> 00:22:58.772
off because I’m still going to give them five bucks.

00:22:59.032 –> 00:23:03.232
It may even be the case if I’m really careful about how I structure my offers.

00:23:03.532 –> 00:23:07.712
This is great for pizza because pizzas are kind of a big ticket item,

00:23:07.812 –> 00:23:10.732
right? They’re 20 bucks or 25 at a higher end pizza place.

00:23:11.012 –> 00:23:17.092
And so I can say something like $5 off, $15 or more.

00:23:17.432 –> 00:23:23.492
Well, that sounds like a third off, right? 33% off, five out of 15.

00:23:23.772 –> 00:23:26.692
That’s a perceived value of a 33% return.

00:23:27.372 –> 00:23:32.572
Now, when I get there, by the time I get just mushrooms on there, it’s a $20 pizza.

00:23:33.692 –> 00:23:38.992
Actual value is less than that, but that’s fine. The perceived value is a third off.

00:23:39.192 –> 00:23:44.832
That is a great example of a type of offer that works really well in pizza.

00:23:44.992 –> 00:23:46.352
I know I’ve done that all the time.

00:23:46.552 –> 00:23:49.392
Like how far can I get to get the five?

00:23:49.912 –> 00:23:51.732
And I’m really great at it.

00:23:52.352 –> 00:23:58.272
I might do a digital course on how to get as close to the 20 as possible.

00:23:58.472 –> 00:24:01.392
But that’s really interesting because you can do it the other way.

00:24:01.472 –> 00:24:05.772
You can be under it to give a higher perceived value. You can also be over your

00:24:05.772 –> 00:24:09.372
dollar amount to encourage a higher basket spend.

00:24:09.592 –> 00:24:14.892
So if my pizza is 20 bucks, 15 off of five has a perceived value,

00:24:15.052 –> 00:24:17.472
a high perceived value, but the actual value is less.

00:24:17.772 –> 00:24:23.152
If I say my pizza is 20 bucks, but you only get $5 off at $25,

00:24:23.752 –> 00:24:25.232
I got to buy something else.

00:24:25.392 –> 00:24:30.352
And if most of the other things on my menu are $6.99, now we’re even pushing them up higher. Yeah.

00:24:30.532 –> 00:24:32.592
That’s why I get the little garlic dipping. Yeah.

00:24:33.052 –> 00:24:36.672
Anyway, so that is a really popular type of offer. What are some other popular

00:24:36.672 –> 00:24:39.332
type of offers that we’ve seen or like the most popular ones?

00:24:39.492 –> 00:24:43.252
Okay. So I have a great story about indoor media. All right.

00:24:43.992 –> 00:24:48.632
You guys have not heard me talk about the chicken story? I’m sure I have, but enlighten me.

00:24:48.672 –> 00:24:53.612
This happened in the 20 teens and there was a guy that had been doing direct

00:24:53.612 –> 00:24:56.972
mailers and he owned a fried chicken place.

00:24:57.192 –> 00:24:59.812
And his offer was an amazing offer.

00:25:00.832 –> 00:25:04.592
Free chicken meal. It’s like a $5, $5.50 value.

00:25:05.292 –> 00:25:08.652
Free meal, no purchase required. He came to us. He’s like, hey,

00:25:08.732 –> 00:25:11.732
I want to move on to tape. We’re like, you can’t do that offer.

00:25:11.952 –> 00:25:14.892
He’s like, no, no, no. I want to do that offer. I’m like, you cannot do that offer.

00:25:15.212 –> 00:25:20.032
We hand out 20,000 of these a week to people that are getting them,

00:25:20.092 –> 00:25:23.512
I think back at that time, close to two times a week.

00:25:23.592 –> 00:25:25.452
He’s like, no, no, no. It’ll be fine. I’ve done it with mailers.

00:25:25.512 –> 00:25:29.532
It’s all worked. he had people lined up around the building.

00:25:30.012 –> 00:25:34.912
When he had his redemptions, they came in. We’ve got a picture somewhere on our website and a video.

00:25:35.092 –> 00:25:39.352
It looks like Manhattan with stacks of coupons. It is just unreal.

00:25:39.712 –> 00:25:43.552
He literally at one point was going to the grocery store, trying to get them

00:25:43.552 –> 00:25:48.292
to pull the ads out of the store because he’s like, I cannot honor all this

00:25:48.292 –> 00:25:49.092
because it was unbelievable.

00:25:49.092 –> 00:25:54.472
So the response, so this is, yes, I mean, if you cut too deep,

00:25:54.472 –> 00:25:59.372
if you get the wrong offer, it can cause problems and that can really affect

00:25:59.372 –> 00:26:00.372
your ROI and that’s horrible.

00:26:01.257 –> 00:26:04.777
I’ve got one more short story about that, though. Before you go on,

00:26:04.857 –> 00:26:06.197
I think that was a really good point.

00:26:06.497 –> 00:26:10.277
And so many of our advertisers gloss over that fact.

00:26:10.557 –> 00:26:13.937
I mean, you have to think about the offer. It is so important, right?

00:26:14.097 –> 00:26:16.837
So, sorry, I just wanted to make sure we highlight that. I mean,

00:26:16.897 –> 00:26:19.877
it sounds so simple, but it’s such an important piece.

00:26:20.077 –> 00:26:23.877
And getting the psychology right, right? That’s why I really like it when owners

00:26:23.877 –> 00:26:29.497
will lean on us to talk about our experience in their category of business.

00:26:29.497 –> 00:26:33.837
If it’s hair salons, car wash, restaurants, whatever it is, because we’ll tell

00:26:33.837 –> 00:26:34.977
them, hey, we have this story.

00:26:35.077 –> 00:26:40.257
This is how things have happened. This is why we have the experience doing this for 35 years.

00:26:40.417 –> 00:26:44.777
And we can save you some grief because we know another guy that didn’t take our advice.

00:26:45.497 –> 00:26:49.557
This isn’t actually about indoor media, but a friend of mine had a flower shop.

00:26:49.717 –> 00:26:52.957
And when he bought the flower shop out from the previous owner,

00:26:53.097 –> 00:26:55.437
and the owner made a very interesting comment to him.

00:26:55.917 –> 00:27:00.277
Make money on every flower that goes out the door. because flower shops get

00:27:00.277 –> 00:27:06.377
tons of calls from hotels and like, well, why don’t you do our lobby flower

00:27:06.377 –> 00:27:09.497
arrangement for six months and get a fresh one in there every week?

00:27:09.617 –> 00:27:14.017
And then we’ll refer you to other business trying to get you to do something cheap.

00:27:14.697 –> 00:27:17.357
Turns out the referrals never come through. You just lose money.

00:27:17.497 –> 00:27:22.657
If you have a coupon that you can always make money on, then it doesn’t matter.

00:27:23.217 –> 00:27:26.997
Yeah. Get all the coupon responses. Make Manhattan. That’s fine.

00:27:27.117 –> 00:27:30.897
So you want to be as aggressive as you can, but still make money on every transaction.

00:27:31.417 –> 00:27:33.037
Yeah. And the, the.

00:27:34.952 –> 00:27:38.652
Promotion that you had mentioned earlier about the chicken meal,

00:27:38.992 –> 00:27:41.612
I guess we classify that as free stuff.

00:27:41.832 –> 00:27:49.312
I got, I got a free thing and free stuff is tricky because on the one hand,

00:27:49.672 –> 00:27:52.712
yeah, I’m giving away something for free.

00:27:52.752 –> 00:27:57.812
That’s really scary for my bottom line, but it can be really,

00:27:57.972 –> 00:28:05.412
really helpful in terms of what you gain besides the loss of the product.

00:28:05.612 –> 00:28:11.172
For instance, I don’t know if anyone else checks the T-Life T-Mobile Tuesdays

00:28:11.172 –> 00:28:13.652
every Tuesday discount thing.

00:28:13.812 –> 00:28:15.972
I didn’t know that was a thing. Me neither.

00:28:16.292 –> 00:28:23.452
On every Tuesday, T-Mobile will provide an exclusive discount for a list of things.

00:28:24.112 –> 00:28:29.992
And a lot of times it’ll be like, go to Popeye’s and you’ll get a free meal.

00:28:30.612 –> 00:28:33.672
Most of the time it’s free. Sometimes they have the percentage off offers,

00:28:33.672 –> 00:28:39.112
but in order to do it, you often have to download an app or give your information.

00:28:39.552 –> 00:28:44.292
For those of us who love a good deal, that is not a deterrent.

00:28:44.452 –> 00:28:50.772
And then suddenly you have an active opted in audience member.

00:28:51.052 –> 00:28:56.612
And in marketing, That can often be the most difficult thing to get is how do

00:28:56.612 –> 00:29:01.772
I get an actual person that is going to read this email and a free offer is

00:29:01.772 –> 00:29:04.552
almost a express way to that.

00:29:05.785 –> 00:29:10.585
No, yeah. And I think, realizing something, Roger might have to do a completely,

00:29:10.845 –> 00:29:13.825
his own podcast or episode on how to find good deals.

00:29:13.965 –> 00:29:17.805
Because he keeps pulling out all these things. You do this, you do that.

00:29:18.685 –> 00:29:22.965
It’s called thecrazycouponer.com. That actually probably exists.

00:29:23.325 –> 00:29:26.605
It’s with Ks, but they’re not where you think they are. But yes,

00:29:26.625 –> 00:29:30.005
I love that example, right? It’s .com, K-O-M.

00:29:30.385 –> 00:29:34.005
You gave that away for free, but it’s not really for free because you got them

00:29:34.005 –> 00:29:38.665
to opt in. That’s super valuable that you can now reach their phone right in

00:29:38.665 –> 00:29:39.885
their hand or their inbox.

00:29:41.225 –> 00:29:44.625
Doug, the owner of Indoor Media, along with his partner, Gordon,

00:29:44.725 –> 00:29:48.205
they have a great saying, you don’t buy customers, you only rent them.

00:29:48.325 –> 00:29:52.525
I love that saying. It is. It is. And so you have to act constantly go out.

00:29:52.625 –> 00:29:53.445
There’s going to be attrition.

00:29:53.665 –> 00:29:56.285
People are going to move. They’re going to change tastes, right?

00:29:56.385 –> 00:29:58.765
Somebody’s going to go on a diet and not want Popeye’s anymore.

00:29:58.905 –> 00:30:01.785
So you do need to be in an acquisition mode for new customers.

00:30:02.365 –> 00:30:07.145
It’s interesting though that you said most of those offers are free because

00:30:07.145 –> 00:30:10.025
it’s really, really expensive to get a new customer.

00:30:10.665 –> 00:30:15.645
How much more expensive is it to get a new customer versus retaining a current one?

00:30:15.925 –> 00:30:18.785
Do you know the multiplier? It’s like 75, right? Yeah.

00:30:18.925 –> 00:30:22.925
I mean, it’s a crazy number. It’s like seven times more expensive to get a new

00:30:22.925 –> 00:30:24.525
customer than it is to keep your current one.

00:30:24.725 –> 00:30:27.805
And so that’s where you have to think about your offer. What am I doing?

00:30:27.985 –> 00:30:29.645
What do I really want out of this?

00:30:30.145 –> 00:30:36.245
Am I just interested not just, am I primarily interested in trying to acquire

00:30:36.245 –> 00:30:41.865
new customers, which is really, really hard and really, really expensive, but you have to do it?

00:30:42.245 –> 00:30:47.625
Or can I really make my current customers happy and get them in one more time

00:30:47.625 –> 00:30:52.825
a month, which could mean a hundred percent or a 50% or even a 33% increase

00:30:52.825 –> 00:30:54.325
in my revenue for that customer? Yeah.

00:30:54.794 –> 00:30:58.074
So that’s where those offers really make a difference. And it just shows how

00:30:58.074 –> 00:31:01.594
far you have to go to get somebody new. Yeah, really good point, right?

00:31:01.674 –> 00:31:05.574
Like thinking about what is your goal, right? Because if you throw out an offer,

00:31:05.854 –> 00:31:09.014
yeah, are you targeting a new customer? Are you targeting your repeat customers?

00:31:09.314 –> 00:31:14.274
Like I think that’s all the things you have to think about. Yeah, so we talked about free.

00:31:14.614 –> 00:31:19.254
What other offers are there? I want to talk about the iconic,

00:31:19.274 –> 00:31:26.114
the rock star of promotional offers, the B-O-G-O.

00:31:26.274 –> 00:31:34.554
Bogo, buy one, get one. In my opinion, it is the undisputed, indisputed? Un.

00:31:36.194 –> 00:31:41.454
It’s still early for me. In my opinion, it’s the undisputed king of offers.

00:31:41.714 –> 00:31:44.134
Buy one, get one. If I see Bogo. I see Roger.

00:31:44.614 –> 00:31:50.394
Roger. I have a problem with BOGOs. I just, because like, imagine this, imagine this, right?

00:31:50.634 –> 00:31:53.914
I get a BOGO offer for my Moroccan restaurant and it’s like,

00:31:54.174 –> 00:31:57.474
buy one bowl, get one free or buy one sandwich, get one free, but I’m alone.

00:31:57.974 –> 00:32:01.194
I don’t have somebody with me. Yeah. BOGOs suck for the lunch crowd.

00:32:01.334 –> 00:32:04.314
I’m like, yeah, maybe next time. Let me give you another scenario.

00:32:04.594 –> 00:32:07.214
All right. Let me give you another scenario. It’s not your first date,

00:32:07.214 –> 00:32:11.914
but you’re going out with work colleagues and you’re going out and you’re going

00:32:11.914 –> 00:32:15.334
to your chicken restaurant, you’re wherever it is, whatever place you’re doing.

00:32:15.494 –> 00:32:19.454
And you’re like, Hey, isn’t it a little awkward to, to look and say,

00:32:19.694 –> 00:32:22.554
James, do you want to split a meal with me?

00:32:22.954 –> 00:32:26.154
Because I have a coupon and we could, and you’re not even on a date, right?

00:32:26.594 –> 00:32:29.374
I mean, like, I just have to work with this guy. I didn’t choose him.

00:32:30.353 –> 00:32:34.853
So it’s really awkward and hard to make a bogo. How many extra pizzas do you need?

00:32:35.133 –> 00:32:40.373
Okay, don’t answer that question. That’s a little intimate. I only need one pizza. I will say that.

00:32:40.973 –> 00:32:46.753
I just want to point out, y’all are greatly underestimating my ability and desire

00:32:46.753 –> 00:32:49.233
to eat two Moroccan rice bowls.

00:32:49.513 –> 00:32:56.953
Okay, but so be fair, be fair. If it’s $5 off a 20, just buy the two pizzas.

00:32:57.433 –> 00:33:02.093
Sure. And you use two coupons, right? You may need to like do it in two transactions,

00:33:02.093 –> 00:33:03.893
but I am sure they’ll work that out.

00:33:04.093 –> 00:33:10.413
Now, to be clear, I’m not saying that every BOGO, that BOGO is the perfect offer for every product.

00:33:11.673 –> 00:33:17.113
I recently, Papa John’s has been doing buy one, get one, I think large pizzas.

00:33:18.313 –> 00:33:23.953
And I will admit, I cannot eat two Papa John’s large pizzas by myself.

00:33:24.173 –> 00:33:28.273
That is a family deal. That is a party deal. If I don’t have a party,

00:33:28.433 –> 00:33:32.133
if I don’t have a family, that is an excessive amount of pizza. I feel wasteful.

00:33:32.533 –> 00:33:35.213
Now I’ve got a problem. That’s how do I dispose of all this?

00:33:35.353 –> 00:33:40.873
So no, it’s not the perfect offer for every single product. But I know for me,

00:33:41.073 –> 00:33:45.033
when I see BOGO, I can feel like a moth.

00:33:46.013 –> 00:33:51.453
Moth to a light. I see it and I go, okay, how can I maximize this?

00:33:51.573 –> 00:33:54.273
I’m getting something essentially for free.

00:33:54.433 –> 00:33:58.753
This is 50% of the original price. I agree that it has a lot of,

00:33:58.973 –> 00:34:02.653
you know, value, like it has perceived value. Like I’m getting it for free, like you’re saying.

00:34:02.893 –> 00:34:07.653
So it may be a good idea to, if you have the space in your advertisement to,

00:34:07.853 –> 00:34:11.293
you know, you can put the BOGO on there, but also having a potentially…

00:34:12.006 –> 00:34:16.266
Know. I’m not a fan. It’s got to be specific to your product offer.

00:34:16.366 –> 00:34:21.326
This is where you really have to look at what your goals are and try to get

00:34:21.326 –> 00:34:24.406
some really good advice and really think through the financials.

00:34:24.686 –> 00:34:30.426
I totally agree with you. If your target is to get more people to come into the Mr.

00:34:30.606 –> 00:34:33.406
Gaddy’s Fun Entertainment Center, I forgot what they call them,

00:34:33.466 –> 00:34:37.366
but they’re the ones that have parties. You’re not going alone. You’re not going alone.

00:34:38.266 –> 00:34:43.026
It’s your group and parties. It’s one person buying. Well, Roger might go along.

00:34:43.326 –> 00:34:46.066
I have. Sorry. Sorry. I keep cutting you off.

00:34:46.626 –> 00:34:49.786
No, it wasn’t the cutoff. It was the cut down that I was really commenting.

00:34:49.846 –> 00:34:52.546
Shout out to CeCe’s. I’ll go to CeCe’s by myself.

00:34:53.366 –> 00:34:56.446
I didn’t mean that. No, no, no. It’s all good. It’s all good.

00:34:56.606 –> 00:35:00.586
So anyway, so yeah. So I mean, like there is, so if you’re trying to fill up

00:35:00.586 –> 00:35:04.406
Saturdays with family parties, yeah, do the BOGO.

00:35:04.546 –> 00:35:07.386
It makes sense if you’re a pizza place. If you’re J.

00:35:07.586 –> 00:35:10.826
Crew and you’re selling shirts, BOGO is a huge incentive,

00:35:10.826 –> 00:35:13.826
of right that’s why we like bogo so much because it makes so much sense for retail

00:35:13.826 –> 00:35:17.266
but that doesn’t always translate to local

00:35:17.266 –> 00:35:23.286
businesses yeah yeah yeah for sure yeah nail salons like every other nail is

00:35:23.286 –> 00:35:26.546
free right it’s just kind of get your buy the left hand get the right hand free

00:35:26.546 –> 00:35:30.886
yeah no for a dollar right they always do that with tires yeah yeah there’s

00:35:30.886 –> 00:35:33.926
also the percentage versus dollar off,

00:35:34.266 –> 00:35:39.426
am I going to have to do math versus do I just see cash signs?

00:35:39.626 –> 00:35:43.566
Yeah. So what, that’s a really good question. And this, I think the jury’s totally

00:35:43.566 –> 00:35:45.766
out on this. What sounds better?

00:35:47.412 –> 00:35:52.632
Let’s get off of the rest. We’ll do car washes. Car wash, 50% off.

00:35:52.952 –> 00:35:57.492
Or car wash, $5 off of a $10 car wash.

00:35:58.132 –> 00:36:02.852
My brain goes to 50% off. 50% is a big number, right?

00:36:03.332 –> 00:36:07.552
So for percentages, it’s real. So now let’s do the reverse.

00:36:08.012 –> 00:36:16.232
25% off car wash. Or $5 off your next $25 premium car wash. Which sounds better?

00:36:17.232 –> 00:36:20.252
It’s tougher because now I have to do some math. I will tell you,

00:36:20.392 –> 00:36:22.112
statistically, people like the $5.

00:36:22.472 –> 00:36:26.152
Yeah? Because of the math and because it’s $5.

00:36:26.372 –> 00:36:31.132
I get it, right? $5 is right there. 25% like, well, in tax, like eight.

00:36:31.412 –> 00:36:35.432
Right. And I mean, you start with 25%. I mean, that’s, I mean, it’s good.

00:36:35.572 –> 00:36:40.392
It’s like, boy, when you do 10% off, oh, yeah, that’s harsh.

00:36:40.632 –> 00:36:46.152
Get out of here. But you know who was successful with 10% was Denny’s.

00:36:46.232 –> 00:36:51.612
And for a long, long time, they ran coupons with us at 10% off. Why do you think that is?

00:36:52.212 –> 00:36:55.172
The senior citizen discount. I don’t know. Why?

00:36:55.672 –> 00:37:01.612
No, take a guess. Who is that offer targeting? My guess is it’s targeting regulars. Yeah.

00:37:02.072 –> 00:37:05.632
Yeah, right? If I’m a regular, I’m going to Denny’s anyway.

00:37:05.872 –> 00:37:12.292
And I’ve already chosen to go on whichever Sundays I’m going with my group or however it is.

00:37:12.512 –> 00:37:16.492
And, oh, I get 10% off at Denny’s? Well, you know what?

00:37:16.612 –> 00:37:20.212
I’m not going over to McDonald’s that day or Starbucks or whatever else.

00:37:20.332 –> 00:37:22.712
Or you know what? Why don’t we go on Saturday too?

00:37:22.972 –> 00:37:30.932
On top of that, that is probably a good way to get some more love and tips for servers.

00:37:31.432 –> 00:37:35.012
Because if I’m using that, if I go, hey, I go to Denny’s all the time,

00:37:35.132 –> 00:37:36.772
which portions of my life I did…

00:37:37.825 –> 00:37:41.725
To. And I would go to Denny’s all the time. And I’m like, this time I get 10%

00:37:41.725 –> 00:37:46.565
off and they graciously accept the offer.

00:37:46.765 –> 00:37:51.585
And it feels like any other visit, I’m probably going to just put the money

00:37:51.585 –> 00:37:53.305
I would have spent on the tip.

00:37:53.545 –> 00:37:59.225
Yeah. Yeah, for sure. For sure. So Denny’s is a great example because they’re

00:37:59.225 –> 00:38:03.785
so well-known because they have such a lot, any given Denny’s restaurant is

00:38:03.785 –> 00:38:05.525
generally pretty good size.

00:38:05.785 –> 00:38:10.445
So they have a very large crowd of regular customers doing that kind of offer works.

00:38:10.565 –> 00:38:15.885
Now, because of how economy has gotten, because of the competition with restaurants,

00:38:16.025 –> 00:38:17.465
they have had to raise their percentage.

00:38:17.685 –> 00:38:20.785
They’re up to about 20% now to really be effective. Now they’re killing it.

00:38:20.865 –> 00:38:27.565
They’re just getting tons of redemptions, but a straight percentage, just saying it.

00:38:27.885 –> 00:38:32.025
And this is good for them because a regular customer,

00:38:32.185 –> 00:38:35.185
if they’re targeting all the regular customers it’s not like just the

00:38:35.185 –> 00:38:38.245
grand slam buy one grand slam get one for your 50%

00:38:38.245 –> 00:38:41.085
off because you don’t know that maybe they’re going in for the oatmeal or

00:38:41.085 –> 00:38:44.005
a burger moons over my hammy is that yep yeah

00:38:44.005 –> 00:38:46.725
moons over my hammy that’s like oh

00:38:46.725 –> 00:38:49.565
my ham yeah that’s a normally i just normally get two

00:38:49.565 –> 00:38:52.165
grand slams before he goes to the

00:38:52.165 –> 00:38:55.405
pizza place so so what i hear you saying eric is

00:38:55.405 –> 00:38:58.305
you just don’t grab one of these offers pick it

00:38:58.305 –> 00:39:01.205
out of randomly and pop it on your

00:39:01.205 –> 00:39:04.205
ad like there’s actually some thought and depending

00:39:04.205 –> 00:39:07.405
on your business and your goals different ads or

00:39:07.405 –> 00:39:11.305
different offers can affect your business and make more sense for you is that

00:39:11.305 –> 00:39:16.885
i think that’s very well put i mean and i think what’s awesome is that that

00:39:16.885 –> 00:39:23.665
is the approach that indoor media reps and account coordinators put into building

00:39:23.665 –> 00:39:25.465
a relationship with our clients right.

00:39:25.933 –> 00:39:29.073
We can’t just go in there and say, hey, do this offer.

00:39:29.273 –> 00:39:33.633
The offer is so crucial. And all those factors we talked about,

00:39:33.773 –> 00:39:41.253
the perceived value, location, what’s your current regular status, those all play a factor.

00:39:41.493 –> 00:39:47.633
And we really work hard to factor all that in to have the most successful offer

00:39:47.633 –> 00:39:49.293
whenever we run campaigns.

00:39:49.293 –> 00:39:55.633
Yeah, I think what we probably need to do is one podcast session.

00:39:55.633 –> 00:40:02.233
It will be actually for our sleep-deprived customers that just can’t stay awake.

00:40:02.273 –> 00:40:05.993
And we’re going to have Doug come in and explain marginal cost.

00:40:07.173 –> 00:40:13.553
Because it’s, it’s a critical factor to how you actually can define your profitability

00:40:13.553 –> 00:40:18.113
on any given transaction because you have to sort out your hard costs versus

00:40:18.113 –> 00:40:21.053
your variable costs. And you talk about labor and all these things.

00:40:21.713 –> 00:40:27.193
And, and it is, it is really, and I was actually, I studied economics in college.

00:40:27.193 –> 00:40:30.293
So I really like all of that stuff. And I think it’s really interesting.

00:40:30.573 –> 00:40:35.953
I do see a lot of glazed eyes when Doug talks about it. But I learned a lot from it, right?

00:40:35.993 –> 00:40:38.653
I mean, you’ve got to be in the right mindset and you got to want to learn because,

00:40:38.893 –> 00:40:41.773
I mean, but it’s super valuable.

00:40:42.473 –> 00:40:47.493
One thing though, before we move on here, there’s one part of offers that we didn’t talk about.

00:40:47.613 –> 00:40:51.633
And I think we have to, we wouldn’t do offers justice without bringing it up.

00:40:52.033 –> 00:40:54.753
In the right situations, I think

00:40:54.753 –> 00:40:59.393
creating urgency with timing is also important to your offers, right?

00:41:00.333 –> 00:41:03.573
So, you know, you’re trying to drive that consumer behavior so

00:41:03.573 –> 00:41:06.753
it’s only it’s only valid today right like

00:41:06.753 –> 00:41:10.553
or you know or this month or whatever you know whatever the case might be because

00:41:10.553 –> 00:41:14.913
it makes psychology psychologically makes you trigger like i gotta take action

00:41:14.913 –> 00:41:20.673
yeah i think it depends so timing about the offer is really important i think

00:41:20.673 –> 00:41:26.153
whether you have a time limit or not really depends on when they’re getting the offer yeah,

00:41:26.681 –> 00:41:32.621
And how they’re getting it. So giving it as they’re walking into the door because

00:41:32.621 –> 00:41:36.241
you posted it online is not driving behavior. No.

00:41:36.641 –> 00:41:39.581
Not going to be good for you. Every time I walk, I’ll be like,

00:41:39.661 –> 00:41:43.581
oh, I’ll just use that. And then I’m just discounting a sale that I already had.

00:41:44.221 –> 00:41:49.941
If I can catch people not when they’re planning, not when they’re actually on

00:41:49.941 –> 00:41:54.401
their way, and I can hopefully influence the decision, which is kind of like our tape program.

00:41:55.141 –> 00:42:00.061
There doesn’t need to be a time limit on that because I’m trying to influence

00:42:00.061 –> 00:42:01.521
them while they’re making a decision.

00:42:02.041 –> 00:42:07.741
Sure. That being said, the ideal scenario is, and it all drives back to that

00:42:07.741 –> 00:42:11.121
frequency, and this is how Whataburger gets me over and over and over again,

00:42:11.601 –> 00:42:15.881
is I go in, I buy the meal, they give me the receipt, they say,

00:42:15.981 –> 00:42:19.741
take a survey, get a free Whataburger, it’s only good for four days.

00:42:20.101 –> 00:42:23.201
Exactly. I’m like, damn it, how many days can I eat Whataburger?

00:42:23.301 –> 00:42:24.901
Well, it turns out every day. Every four days?

00:42:25.341 –> 00:42:28.821
I mean, we do eat- Actually, I can do it every day because they give me the coupon every day. Sure.

00:42:29.041 –> 00:42:31.701
We have to eat at least, most people eat three times a day. So,

00:42:31.781 –> 00:42:34.201
I mean, there’s a lot of options. That’s right. That’s right.

00:42:35.101 –> 00:42:40.361
Eric, you mentioned about people’s eyes glazing over as they talk about marginal

00:42:40.361 –> 00:42:41.201
costs and all that stuff.

00:42:41.561 –> 00:42:46.181
I don’t think anyone at the indoor media and on the indoor media team feels that way.

00:42:46.481 –> 00:42:50.061
We are promotion geeks. We love marketing.

00:42:50.921 –> 00:42:55.741
And to me, it’s like a puzzle. It’s like saying, all right, so who is this brand

00:42:55.741 –> 00:43:02.601
and what is the road to having the most effective offer? We love doing it.

00:43:02.961 –> 00:43:06.961
If you’re an expert in car washes, if you’re an expert in manicures,

00:43:07.061 –> 00:43:11.221
if you’re an expert in making pizza, you probably don’t have that much time

00:43:11.221 –> 00:43:14.061
to nerd out on figuring out the right promotion.

00:43:14.621 –> 00:43:20.341
It’s not going to be sit down, decide it, and come up with the perfect offer on the first try.

00:43:20.821 –> 00:43:23.721
You don’t know your customers as well as you think you do.

00:43:24.281 –> 00:43:30.881
And any assumptions you bake in are going to probably be proven out either true or false very quickly.

00:43:31.061 –> 00:43:34.161
So, or not very quickly, it’s going to take time. So when you start launching

00:43:34.161 –> 00:43:37.661
your campaign and you’re like, well, no one’s really redeeming the BOGO because

00:43:37.661 –> 00:43:42.761
I didn’t know that only having it on olives on salads was the way to go.

00:43:42.761 –> 00:43:48.221
Whatever it is, you’re like, oh, well, I guess a lot of my customers don’t like olives.

00:43:48.381 –> 00:43:50.941
Maybe I shouldn’t change out what the offer is.

00:43:51.181 –> 00:43:54.541
And so you got to really work it. It’s a process. Yeah. Don’t get discouraged

00:43:54.541 –> 00:43:56.121
if you don’t hit it the first time.

00:43:57.163 –> 00:44:01.803
Yeah. And how many times does it take for someone to even see your offer before

00:44:01.803 –> 00:44:03.563
it registers that there’s an offer there?

00:44:03.983 –> 00:44:07.263
It’s a process. That’s all advertising is.

00:44:07.503 –> 00:44:12.923
It’s a process and constantly tweaking it, waiting until your customer finally sees you.

00:44:13.043 –> 00:44:18.543
It’s kind of like that first date, like until Cindy finally sees me or finally

00:44:18.543 –> 00:44:19.803
agrees to go out. Like the true you?

00:44:20.383 –> 00:44:23.483
The real you? Well, at least acknowledges my existence.

00:44:24.543 –> 00:44:29.063
Fingers crossed. We all have our fingers crossed that Cindy will notice us here at the bounce rate.

00:44:29.323 –> 00:44:33.263
We’re so glad that you listened to this episode and a special promotion.

00:44:33.403 –> 00:44:38.263
If you got to the end of this episode, you can get the next episode for free.

00:44:38.543 –> 00:44:41.843
We’ll get the next episode for half off what we would have normally charged

00:44:41.843 –> 00:44:46.403
for the next episode. No, it’s two episodes for the price of one with the keyword Excalibur.