James Free Jewelers is enjoying success with a clever marketing strategy tailored for engaged couples. With any bridal purchase over $5000, customers receive a free 4-day, 3-night honeymoon cruise.
This offer is much more attention-grabbing and interesting than a straight percentage discount, while still preserving margin for the retailer. A full-price, 4-day Bahamas cruise with Norwegian starts at $658/couple. That’s 13% of a $5000 purchase. Considering the bad PR that cruise lines like Norwegian have received in the recent past, James Free Jewelers probably doesn’t pay full-price for these complimentary cruises, allowing them to preserve even better margins.
Changing the conversation from a 13% discount to a free cruise shifts the purchasing decision away from raw price calculations into a more imaginative realm. You can picture a couple debating about which engagement ring to buy, and one of them says, “That other jeweler may be cheaper, but they don’t offer a cruise!”
Also, the promise of a cruise could push couples to spend more money with James Free Jewelers. They might opt for an engagement ring that’s a bit more expensive to qualify for the promotion. Also, the offer might motivate them to purchase the engagement ring and wedding bands from James Free, instead of shopping around and buying the pieces from various jewelers.
I encourage other small businesses to get creative with their promotions and use James Free’s campaign as inspiration. Think of experiences or benefits that would complement your products and services, like a honeymoon cruise for newlyweds. You’ll give more of a WOW factor and likely end up spending less marketing budget.