For many millennia, the use of gold as an investment has been a common practice. Even at present, governments and banks use this precious metal as a form of security, positioning it as a valuable commodity for anyone keen on protecting their wealth.
Given its rarity – global reserves are believed to be a little higher than 54,000 metric tons – everyone wants a piece of gold. On top of that, businesses are under increasing pressure to add value to their customers. Could it be that using gold as an investment is the answer to both these challenges?
In my post, I dive into how you can incorporate the value of gold into your marketing campaigns to improve your outreach and set it apart from traditional customer loyalty programmes.
First off, why gold?
Incorporating gold in your marketing strategies isn’t one that’s common. Sure, certain companies reward their employees with jewellery but a legal title to physical gold? It’s practically unheard of.
Apart from being rare and a trusted commodity, gold is an asset that actually increases in value at a time of economic instability and uncertainty. When the stock or property market crashes, you’re likely to see gold increasing in value.
All of this together means that gold is, for the most part, as reliable as investors could hope.
Use gold to incentive customer to perform the desired behaviour
If you’ve been struggling to get individuals to perform the simplest actions, whether in-store or on your website, you can incentivise them to move in your direction with the promise of gold.
If you’re wondering how you’ll be able to afford this seemingly fantastical idea, there’s a solution: Digital gold can now be bought for as low as $5. Gold vendors like SendGold deal exclusively with legally regulated, audited, and insured gold, which they distribute through digital titles of ownership.
If you want users to sign up for more information, dangle the promise of gold. For completing x number of purchases in-store? More gold. Made their first online purchase? Gold, gold, and gold. In this process, make sure you’re following a tiered process that rewards customers according to the action they perform.
In this way, gold can be made a part of your customer loyalty programme, one that adds actual value to your customers.
Give your users opportunities to tap into the value of their gold
In addition to giving your customers gold, it’s equally imperative that you give them the opportunity to use what they’ve gained, beyond using it as a form of security.
By working with the right service providers, consider allowing your customers to make purchases from your store or e-commerce site using their gold. This will only serve to reinforce the value of gold in their minds and motivate them to continually make purchases from your business.
This ensures that your customers not only come back to gain gold but also spend their hard-earned gold rewards to buy your products – the clearest win-win there could be!
Do a big giveaway and keep your audience on their toes for more
If the tiered approach seems like too much work or too much money, you could choose to go with a big giveaway that keeps customers hooked on your social media profiles and your products (in line with the guidelines of the giveaway).
By leveraging the value of gold as an investment, your customers identify your business as one that’s committed to returning value to its customers. Big giveaways are also excellent crowd-pullers even if it’s just for one-time customers.
Moreover, a reputation for big, high-value giveaways can convert even the most loyal customers of your competitors, over time.
Organise a gold rush or an exciting gold treasure hunt
Did you know that there are now apps that allow users to go on a Pokemon GO-inspired, gold treasure hunt?
Using the digital gold concept, SendGold has launched a separate ‘Gold Rush’ app that frequently organises these types of bounty hunts to reward users with an affinity for shiny things. This could prove to be an exciting way to engage your customers and build closer relationships with them, while rewarding them for their continued loyalty and support!
Additionally, this strategy can be useful for driving foot traffic to your retail outlets. Imagine organising a challenging and rewarding gold rush in your store – isn’t it likely that potential buyers will come in and pick up some of your products in the process? You can even make the purchase of a few small items part of the hunt for gold!
By organising frequent and random gold rush campaigns, you ensure that customers drop by your store more frequently to check, at the very least, for exciting gold rewards.
Use gold as an investment to add the Midas touch to your marketing outreach
To gain an edge in today’s market and to set yourself apart from every other business, innovation and vision are two things you need to succeed.
Using the value of gold and combining it with the futuristic services provided by globally trusted companies like SendGold, you can position yourself as a business that’s deeply committed to its audiences; one worth its weight in gold.
For more marketing strategies and insights, head to the Hype Insight blog!