Synchro marketing is a strategy in which a seller provides customers with attractive offers (discounts, free installments, or free additional products) during a low season to control the irregular demand for a product. It helps capture customers and sell off-seasonal goods.
In this article, we’ll cover the difference between synchro marketing and demarketing and review synchro marketing strategies and examples.
Synchro Marketing vs Demarketing
Synchro marketing and demarketing are the two opposite concepts. The first strategy aims to create a demand for off-seasonal goods, while the second one strives to discourage the demand for a product that a company can’t meet. Let’s review each concept in more detail to know the features.
Synchro marketing means using different tactics to control irregular demand. These methods include attractive offers such as free installments, gifts, or discounts to encourage customers to purchase off-seasonal goods. Manufacturers use the tactic during the low season to increase sales and profits.
Let’s take the sellers of heaters, for example. During the high season — winter, they experience high demand for their products, and their revenues constantly increase. However, no one buys heaters in summer when the temperature inside and outside is already high. So companies control the irregular demand by providing customers with special offers to sound more attractive. As a result, they increase sales.
Demarketing means discouraging the demand for a product because the manufacturers don’t have enough supply or feel unprofitable to deliver products to certain regions. Companies usually increase the price, use scaled-down advertising, and redesign a product to reduce the demand. For example, TATA group discouraged its customers from purchasing Tata Nano because of the low supply that can’t meet customers’ demand.
Now that you know the difference, let’s move to the strategies which might come in handy.
Synchro Marketing Strategies
You can use several strategies to increase the demand for your product during the low selling season. Three tactics below will help you improve sales.
- Provide customers with attractive offers. To hook the audience’s attention when there’s no demand for a product is no easy task. But still, you can do it with the right approaches. The first thing you should do is to create attractive offers. Do something for free or provide additional gifts. Let’s take sunblocks, for example. To sell these items in winter might be quite challenging. Yet, if you make discounts, provide small gifts, or leverage a “buy one get one free” sales promotion, you have a chance to increase revenue.
- Reduce the prices. Reduced prices also attract customers. Offer discounts to make your product look more attractive even during the low season. People will appreciate buying an air conditioner with a 50% discount in the off-season.
- Promote your offers. To capture many customers and raise the demand, you need to promote your products. Use various online channels and traditional advertising to inform customers about your sale. You can advertise it on Instagram, Facebook, or send an email campaign to reach your online audience. As a result, your target audience and the number of sales will increase.
Now let’s have a closer look at some real examples to grab some inspiration and develop an outstanding synchro marketing strategy to attain your goals.
Examples of Synchro Marketing
Synchro marketing is one of the most effective strategies used by cafes, restaurants, and cinemas. Since most customers are free in the evenings and weekends, cafes, restaurants, and other places are crowded with visitors. The demand is very high. However, you won’t find many people enjoying a cup of coffee in a cafe in the morning or working out in a gym at lunchtime. To increase the demand in the morning and afternoon, different companies use various methods. Gyms encourage visitors to purchase gym membership at a lower price, cafes provide complimentary drinks, lunches for special prices, and cinemas sell cheap movie tickets.
Clothing stores also sell items for a lower price during the off-season. When there’s no demand for certain items, stores leverage “buy one, get one free item” and give customers big discounts to free the warehouse for new collections.
Synchro marketing suits the best during the off-season when the demand is deficient. It helps brands earn revenue and sell goods that aren’t popular at a certain moment.
Last Updated: 23.12.2021