Just a few days ago, I and Aditi went on to purchase a 32′ LCD TV at the SONY showroom in Lajpat Nagar market here in Delhi. The TV had an MRP of 49,999/- and their salesman gave us 20 dedicated minutes, explained about all the models very well and almost convinced us that it’s the best gadget in town.
Upon bargaining, the last price that he offered to us was 46,900/-, 0% Finance, No processing fee and a free subscription of Tata Sky for 2 months. Still at the end of our conversation I decided not to invest immediately coz we wanted to do research first on the options available in the market (one of those 10000 bad reasons that we give) and he just allowed us to go.
After that we checked out a few other outlets as part of our research. Later, we went on to buy other stuffs like washing machine, floor mat, water purifier etc. Bottomline is that we were still roaming in the Lajpat Nagar market for another 2-3 hours.
What I’m wondering is let’s say SONY wanted to offer further discount to me if I don’t go back to them within an hour? Is there a mechanism to do a perishable targetted re-marketing?
How good would it be if my movement within that marketplace could be tracked; for instance which are the shops that I’m entering after leaving one shop. Let’s say if all these shops had an OOH media/ equivalent, it would enable SONY outlet to bombard me with an Ad to avail further discount. Because I was almost prepared to do the investment, the continual marketing campaign has the potential to stimulate me to do the investment.
Owing to competition, it is a very common practice in our usual life to offer discounts at the time when the customer is on the verge of leaving the premise. However, when one-on-one personal negotiations are involved, many a time it’s the human ego that accounts for denial for further discount on the face though the seller still has the intention to convey further discount.
Interestingly, eventhough all the shops are the part of a single network called “Lajpat Nagar” there is no tracking of the user that’s happening in the real world and I feel that this is where digital world has the edge. On the internet for instance, if I move from one webpage to another, I carry an identity either in the form of an IP or the cookie setup on my machine that can be tracked, simlarly in the mobile world I share the same base station and the mobile number.
Good news is that, Google has just done it for the marketers – leveraging the power of their own Google Adwords Network. This is just so amazing! So close to the real world practice.
It would really be interesting to see how such a model can be scaled down to either the brick and mortar real-estate network or the mobile network. For me it’s a great tool to do targetted marketing for the perishable needs.
Perhaps the last mile of advertising world.