How Great Clips Successfully Created the Perfect Value Exchange
“You need data. Consumers have it.” Global martech company Marigold cuts to the chase with those two simple sentences in its 2024 Global Consumer Trends Index, which reveals how brands can best connect and build relationships with their customers. Creating a value exchange (a transaction between two parties that results in each party receiving something of value, some kind of benefit) is a key part of the process, but brands need to know how.
An oldy-but-goody takes the top of the list: 91% of the people Marigold surveyed globally say they find discounts/coupons to be a valuable exchange for personal data. Furthermore, a majority of consumers find value in:
- Loyalty points/rewards (89%)
- Early/exclusive access to offers (83%)
- A chance to win something (81%)
- Unlocking content (60%)
- Brand community (55%)
Stats aside, consider this recent real-life example: Hair salon chain Great Clips had a unique opportunity to reach one of the widest audiences possible through a recent partnership and promotion with Kawasaki.
The ATV manufacturer created a memorable Super Bowl ad where every character involved (from people to animals) sprouted a flowing mullet as their Ridge model drove by. To piggyback on the hair-themed spot, Marigold client, Great Clips joined forces with Kawasaki to offer fans a chance to win a free mullet haircut through a social promotion that ran across both brands’ profiles. All it took was an email address for visitors to unlock a code for the free haircut. Within several hours of the launch, all 15,000 available codes had been claimed. After the cap was reached, additional visitors still got to enjoy a $2 coupon code.
Check out this blog post for more about the Great Clips promotion, and download the full 2024 Global Consumer Trends Index here.
