Discounts have always been an effective strategy adopted by businesses, which helps drive their sales numbers up, is beneficial to the brand image, and boosts brand identity.
This is just the tip of the iceberg when it comes to understanding the benefits of offering discount offers, which is why many businesses should also offer military verification discount services.
These specific types of discounts are often seen in stores like home depot and involve providing discounts to all military personnel.
By offering military service verification, these businesses will be shed in a positive light due to their contribution to society. It will also uplift their brand confidence and foster an environment nurturing customer loyalty.
Let us discuss this in more detail, understanding why you should target the military community for marketing and highlighting some of the benefits of military discount verification.
Why Market to the Military?
As a business owner, you might have a completely different target audience and demographic, which you would pinpoint to promote your products and services. So why add the military community to the equation, and focus marketing efforts on them?
It is important to understand that anyone in the military, or their family members, is part of an incredibly special community of around 37 million active service members.
This number comprises people from different military sectors, including veterans, reserves, and retired personnel.
In addition to being such a vast community, the nature of what they do results in substantial earnings, due to which they are in control of a great portion of the overall spending power, amassing up to a staggering $1.2 trillion.
Due to their contributions to the economy and the need to recognize their efforts for the country, certain measures must be taken to encourage their shopping habits. Offering military discounts is statistically known as the most effective strategy to adopt.
Many studies center on offering a military verification service and discounts, and most have drawn positive conclusions.
According to one of these studies, the likelihood of someone in this community shopping at a store is increased by 22%, if the store offers military discounts.
Moreover, a vast majority of the military community actively looks for places that offer special discounts to military personnel. Providing these discounts increases the likelihood of your business driving up its sales numbers and amassing increased profits.
Benefits of Offering a Military Verification Service
#. Increase in Sales
As discussed earlier, offering military discounts can allow you to tap into a completely different audience, increasing your sales greatly.
The military community always prefers brands that offer discounts tailor-made for them and are much more likely to invest in businesses that offer special military discounts.
Furthermore, influencing customers’ shopping habits by offering them incentives can act as a motivator for them to spend more, and this is also a known tactic of identity marketing which has proven to be highly effective when it comes to driving a company’s sales numbers up.
Before making deductions that offering discounts to military personnel may lead to a financial loss in the long term, it is important to note that the entirety of the community comprises around 37 million individuals.
Furthermore, the average annual income for each active military member is around $74,000, so it is important to understand that pinpointing and encouraging this community will surely drive your sales to unprecedented heights.
Moreover, another reason military discounts will benefit overall sales is that not only will it encourage the community to invest in your brand, but this will also create a ripple effect that will carry over to the general public.
Offering these discounts will inform the public that you recognize them for their country’s efforts, painting your brand in a positive light, persuading others that your brand is trustworthy, and enabling them to utilize it as a supplier of goods.
However, to maximize your discount potential and target as many folks belonging to this community as possible, it is essential to implement a viable military verification service.
#. Discount Abuse Prevention
Before understanding how the military verification service can prevent this phenomenon, it is important to understand what discount abuse means.
Definitively speaking, discount abuse occurs when an employee uses discounts to reduce the pricing of an item using means which are not allowed by the company they are working in and are generally frowned upon.
Many con artists and individuals looking for discounts tend to take advantage of military discounts, posing as military personnel hoping to redeem these discounts through unfair means.
However, the implementation of proper military verification service prevents this abuse from occurring.
There have been many cases where veterans have greatly exaggerated their services in the military while they were serving. Furthermore, there have also been reports of people going as far as straight-up lying about their services in the army, with some of them not even serving in the first place.
Due to this, the implementation is a great plus for businesses to make sure that only those people can avail of these benefits that are entitled to it.
How it works is that using a proper verification system, the staff can determine an individual’s eligibility and have access to their private information to determine whether they have served in the military or not.
#. More Military Clients
Although you can now take advantage of many digital and conventional marketing strategies to promote your brand and increase your reach, nothing is more efficient and financially sound than word-of-mouth marketing, and that is exactly what military discounts achieve.
Implementing an effective and thorough military verification service can allow you to target the right military personnel for discounts, who will inform the other community members because they have formed a very closely-knit community.
There is a high likelihood that several troops might have served together, making their families familiar with each other. Due to this, many military families tend to know each other in some way or another, making word-of-mouth marketing especially effective in this case.
Furthermore, many veterans feel that brands that offer special discounts and thorough service verification should be appreciated for their efforts, which is why they tend to promote their brand to others as well.
Not only does this influence the military clientele and increase the likelihood of attracting more personnel, troops, and their families, but due to their commitment, loyalty, and efforts to show how special that brand is to them, it also draws other crowds.
However, word-of-mouth will spread amongst this society only when the families eligible for these discounts can take advantage of them. The best way to ensure that is through proper military service verification.
#. More Efficient Brand Promotion
Not only from a sales and profits perspective, but service verification is also beneficial from a marketing perspective.
Since this system allows brands to identify veterans and troops, confirming their identities, the marketing department can use this data to generate marketing-focused campaigns catered to them.
This can be in the form of greater discounts or efforts to make tailor-made marketing campaigns to increase their loyalty toward the brand.
This data can also prove to be of use in regards to long-term planning as well, with the marketing department using it for introducing different benefits for military clients based on their loyalty towards the brand.
This can include implementing certain strategies, such as promoting campaigns designed to provide them with more savings on their purchases, further cementing their loyalty to the brand, and boosting your sales revenue.
Other than the benefits mentioned above, a very important reason these types of discounts are necessary is that if a company does not implement this in their products, they are not making any distinction between the general public and the community.
This leads to the organization losing its trust and commitment to the product they seek, a business that understands the importance of its services to its country.
This is why the absence of discounts and the lack of a military verification service can lead to losing clients, which can take a toll on their overall sales.