Yup the Extrinsically motivated audience.
How do you feel when you see the following headlines:
• Join our loyalty program and SAVE 30% on subsequent purchase!
• Donate to the Cancer Foundation and WIN a 5-Day holiday!
• Sponsor this year’s charity run and be the MEDIA DARLING at our award ceremony!
• You have been recommended and invited to serve as the Chairman of AMK Residents Committee.
If any of the above excites you, chances are you are Extrinsically Motivated!
Today we’ll conclude this 2 part series with the following:
1. Marketing to extrinsic folks = Blatant Reward Boasting.
2. Practical tips on marketing to the extrinsically motivated audience.
3. Looking at a long-term marketing plan?
4. 5 steps to market your business to the extrinsically motivated customers in your niche.
Previously, we discussed Intrinsic Motivators and how to craft your message for them.
You know, those motivated internally, such as personal enjoyment, the challenge in learning, exploration and actualization.
Reach out to their inner desire and their ears are yours.
In the above 4 headlines example, the common theme among them is the attraction of external rewards.
These excite the Extrinsically Motivated people. They act with external rewards such as money (discounts), power and praise.
Think salespeople, politician, CEO and perhaps many of us!
Note: This is not an academic article but an observation as a consumer and marketer with the love to link human behaviours with, well, marketing!
Marketing to extrinsic folks = Blatant Reward Boasting
This group seems easier to market. Pour out the rewards thru the purchase of your product, and they would respond!
Have those rewards in your headlines and ad copy, and they will be hooked!
One example that is commonly used is loyalty cards and discounts. Think pharmacies, airline and petrol.
Products or services that require frequent consumption works well with extrinsic rewards. So are higher priced, less frequent products. (Laptops, and even cars)
After all, as long as it’s relevant, who can resist a good offer?
Most consumers won’t know the difference between Lenovo, Acer and HP. Price differences usually hang purely on the PC specs.
Visit our quarterly PC, or IT shows, and you can see all kinds of rewards thrown at you. Remove the rewards, and the mass market will go and check out the other brands.
Is your business doing the same ol’ rewards as your competitors? How many rewards can you give before your profit bleed out?
Let’s consider laptops.
Practical tips on marketing to the extrinsically motivated audience.
Specs and generic rewards aside, how else can you stand out? Besides the usual laptop bag, a wireless mouse or even grocery voucher, what else?
The answer is in knowing who you are targeting. This not only helps in knowing what to give out but more importantly plan your marketing around your target audience.
Targeting at road warriors? Life-style entrepreneurs? Insurance agents?
What’s their life and work style like? Would they like:
• Stored-value card for Starbucks. Most of them meet their clients in a cafe anyway.
• What about 1 year free subscription for productivity app like Workflowy (powerful yet easy to use nested to-do list) and / or Evernote (Premium, of course). Because we want to get organized as easy as possible.
• 1 year unlimited weekday entry for Explorer Kids. Mumtrepreneurs would totally love this! Kids get entertained, mum and dad can work. Win!
You can still offer the Targus and Samsonite bags as an option (which btw are pretty common brands for laptop purchases these days.) Probably this niche already has fancy laptop bag and cute mouse to begin with, unless you are doing Braun Büffel bags give aways.
Looking at a long term marketing plan?
Bear in mind though, Extrinsic Motivation only focuses the audience on the rewards and not the action. What action? The action of buying your product because they are aligned with the value of your company and the story behind the business.
Take away the reward, they would stop the buying behavior.
Consider the other side of the motivation spectrum.
Apple. Think Different. Products that revolutionize.
There are definitely other PC brands that can help in your standard daily task at a cheaper price but Apple fans stick with Apple’s core value and brand like Brazilian wax.
Painful and loud when you try to pull them apart!
Does Apple offer discount once a while? Yes they do. This, I believe, helps the loyal ones to vouch for their undying love even more!
At the same time, tilt the PC/Mac fence-sitters more to their side.
Great brand, good product, nice price, why not?
However, at the core, their main marketing message is always crafted for the intrinsically motivated, molded around the brand’s core value. The discount campaign is just an add-on.
But that’s Apple! I’m just a small business needing marketing! The 5 steps plan.
If you are targeting extrinsic folks, consider these steps:
1. What is your core brand value?
2. Who is your niche?
3. What is their desire, needs and even lifestyle?
4. How can you market your product according to your core brand and niche?
5. What rewards can you provide that cost the same or lower than your competitors’ YET has a higher perceived value to YOUR niche?
Depending on your business, it could be more profitable to market towards the Intrinsically motivated consumers.
With the Intrinsic, price is usually not the main concern. Their inner desires are.
One last quick local example, Lao Ban Bean Curd.
Their price has maintained through the years. Many other brands jumped in with discounts, loyalty cards but didn’t survive.
One works on the brand and core value, maintaining the quality for the long term, the others just compete with price and rewards for short term gain.
So, where would you like your brand to go?
Drop me a line and we’ll do a dignostic consultation to help you get a better clarity on your marketing effort.
Everything is possible.