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Generous Offers
An offer with too generous an incentive may give too much away
- Will not maximize profits
- May create short-term customers who bought for incentive
Don't offer too many choices or incentives with a value that may be too high
Very important to test incentives to make sure they are effective and efficient
The Value Proposition
The promise of a value to be delivered by a product or service, and acknowledgement by the customer that the value will be delivered and experienced.
The value proposition should be clear, concise and appealing to the key drivers of purchase behavior.
Different Value Propositions for Different Segments
Communicate the right elements to those who will benefit from it most
Include a mix of relevant benefits, motivations and incentives
The idea of "value" may change at different stages of the customer lifecycle
Organizations that fail to communicate the key elements of their value proposition often fail
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