With the marketing exchange you need to consider the key relationships and what each party gives and receives from the exchange. For a retailer you may consider this, at its simplest, to be money exchanged with the customer for specific goods and whatever guarantees the company provides. The guarantees may come through the premium positioning of the brand.
The wrong benefits
However, to add some complexity into the mix, you need to consider what both parties are giving up to enter this exchange. Taking this one step further, some cultures consider short cutting hard work to be frowned upon rather than rejoiced. So, for the marketing exchange, making life easier is the wrong benefit to sell. Instead, for the consumer, the benefit could be about helping them perform their job better. So further developing your expertise in your role and that exchange could work better to market your offer or tailor your target messages.
So, the idea with this is to look at your marketing exchange from your client’s perspective and ask them for their wording and revisit your messaging to ensure they are aligned.
Lack of transparency
Add in the element of sacrifice. Are people giving up enough or not enough, which may lead them to think what’s the catch? So you will diminish trust if your potential clients can’t obviously see what you are getting out of the exchange process? If clients think you are selling a “free” offering and the exchange isn’t clear, they may be sceptical about entering into the exchange.
Sufficient level of sacrifice
Sometimes, if the sacrifice isn’t enough, then people don’t place a high enough on what they have bought. So then their expectations from it and commitment to its success are low. People have to give enough up or feel enough pain to ensure they are invested in the potential gain.
Getting the exchange process right isn’t as simple as it initially sounds. It needs careful consideration.