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The Buying Acceleration and Incentive Tool (B.A.I.T.)
The document discusses the Buying Acceleration and Incentives Tool (B.A.I.T.) developed by Leo Burnett and ARC, which analyzes various marketing offerings that can influence consumer behavior and accelerate purchasing decisions. It categorizes offerings into five types with multiple subtypes, highlighting how different demographics respond to various incentives, such as free shipping or loyalty rewards. The insights aim to help marketers align their strategies with consumer preferences and enhance brand engagement during the buying journey.
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The Buying Acceleration and Incentive Tool (B.A.I.T.)
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- 2. B.A.I.T. / BuyingAccelerationandIncentivesTool/ Leo Burnett and Arc 2 17,000surveys 186offerings 122attributes Quantitative research:
- 3. B.A.I.T. / BuyingAccelerationandIncentivesTool/ Leo Burnett and Arc 3 Everything from … Store Window Sign Pop-Up Ad Play-to-Win Game Mileage Reward Credit Card Multiple Purchase Coupon Product Placement Reminder Stickers As Seen on TV Spotter Shelf Talker YouTube Demonstration POS Rebate Made to Order Direct MailCoupon In-StoreDemonstrationDigitalAdBuyInBulk FreeConsultationEliteStatus Cash Back on Credit Card Shelf Coupon Facebook Likes Free Shipping/Free Returns Store Circular Layaway Celebrity Endorsement Manufacturer Instant Redeemable Coupon End Aisle Display FDA Approval In-Pack Offer Birthday Free Giveaway Test Drive Free Short-Term Trial Groupon In-Home Trial Free Item Interesting Package Design Receipt Rebate Electronic Coupon Lifetime Guarantee Refund Pop-Up Stores Collect-And-Get Fair-Trade Certified Online User Reviews Mark Downs BOGO Free Collect and Get Free Storewide Sale $ Off Trial Incentive In-Store Mobile Texts POS Rebate 2For1 FreeShipping MoneyBackGuarantee ProductSampleViaMail In-Pack InstantWin OnlineFlashSale Rub-OffCoupon BuyMoreDiscount ReturnPolicy Private SaleCourtesyCallKeepsakes Exclusives AmazonPrime In-StorePick-Up Customized Product Product Upgrade Share on Social Media On-Pack Offer Good Housekeeping Seal of Approval Cross-Ruff Coupon 24/7 Store Hours Variety Packs Siri Mannequins Retailer Emails Match and Win Extended Warranty Bounce-Back Self-Destruct Offers FloorModel In-StoreDisplay LoyaltyRewards andmore…
- 4. B.A.I.T. / BuyingAccelerationandIncentivesTool/ Leo Burnett and Arc 4 howofferingsgroup overallappeal variationsinappeal howmarketerscanbestuseofferings What we learned:
- 5. B.A.I.T. / BuyingAccelerationandIncentivesTool/ Leo Burnett and Arc 5 5 types 11 subtypes Each fulfills a different human need
- 6. B.A.I.T. / BuyingAccelerationandIncentivesTool/ Leo Burnett and Arc 6 Theseprofilesenableus toconnectthetypeof offeringtoabrand’s marketingobjectives andtoitspurpose.
- 7. B.A.I.T. / BuyingAccelerationandIncentivesTool/ Leo Burnett and Arc 7 Whichofferhasthe greatestimpact? Whichcanmosthelp speedupashopper’s decisiontobuy?
- 8. B.A.I.T. / BuyingAccelerationandIncentivesTool/ Leo Burnett and Arc 8 What people perceive to have the most impact on decision to buy and the speed of purchase within each group of offerings Risk reducers Free Shipping/Free Returns Basic deals Manufacturer Instant Redeemable Coupon Basic deals Storewide Sale Exciting deals Completely Free Item Exciting deals $ Off/Incentive to Try a New Product Risk reducers Lifetime Guarantee Info providers Test Drive First-hand experiences User Reviews on Retailer Websites Attention getters Established Product Sample via Mail Attention getters New Product Sample via Mail Info providers In-Store Sample Manufacturer First-hand experiences In-Store Try-On/Try-Out Effort Erasers Store Website Time Savers Store Circulars Time Savers Multiple Locations Greater Good Locally Sourced or Grown Effort Erasers In-Car Shopping Greater Good Customized Product Fun Pursuits & Treasures Seasonal Favorites Fun Pursuits & Treasures Collect & Win Cultural Cache Product Placement Cultural Cache Made to Order Somegroups,onaverage, performbetter.Thereare alwaysexamplesfrom everygroupthatperform ontop.
- 9. B.A.I.T. / BuyingAccelerationandIncentivesTool/ Leo Burnett and Arc 9 Differentgroupsof offeringshavedifferent power,dependingon genderandage.
- 10. B.A.I.T. / BuyingAccelerationandIncentivesTool/ Leo Burnett and Arc 10 There are certain areas women care about more and men tend to be slightly less interested in everything.
- 11. B.A.I.T. / BuyingAccelerationandIncentivesTool/ Leo Burnett and Arc 11 Boomers are tougher to get engaged. Millennials easier.
- 12. B.A.I.T. / BuyingAccelerationandIncentivesTool/ Leo Burnett and Arc 12 Differentgroupsof offeringshavedifferent power,dependingonthe productoffering.
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- 15. B.A.I.T. / BuyingAccelerationandIncentivesTool/ Leo Burnett and Arc 15 Whatisyourbrand’spurpose? Whoareyoutargeting? Whatistheappropriateofferinggiven yourprogram’sobjective? Canyouusedifferentofferingstotheir bestadvantagealongdifferentpartsof yourshopper’sjourney? WhatmorecanIlearnbyconductinga customstudy? Think about this.
- 16. Formoreinformation, contact: Elizabeth Harris EVP, StrategyDirector elizabeth.harris@leoburnett.com