— SNICKERS® (@SNICKERS) November 16, 2017
On November 16 Snickers announced a new program to offer discounts based on algorithm they created. The candy bar brand is monitoring social media posts for over three thousand words and phrases that indicate people are upset. The idea was debuted at 7-Eleven stores in Australia. Discounts for Snickers fluctuated in real-time based on social media monitoring. Obviously, this is going to be beyond the capabilities of most retailers. However, the principle can still be applied.
The idea of real-time discounts has been around for a while. Use our text-message program to alert customers to flash deals. Do you have digital signage in your store? Use them to call attention to a flash sale. You don’t need a big marketing agency running a fancy algorithm to let you know the mood of your potential customers. As a retailer you should be tuned in to your community. Do you need to discount liquor because the local team just lost a big game? Is it unseasonably warm? Run a sale on brats and charcoal to get people grilling. Pay attention to what is happening in your community and try and tie that into offerings from your store. Building a sense of community between you and your customers is what will set you apart from national chains.