We see it all around us during holidays or when something goes out of season. Big sales, with big % and big red stickers. It’s not strange that it gets repeated whenever Twitch streamers, both big and small, decide to do the same with their merchandise. Let’s stop for a second and think about what that means and what message it sends to those that are buying from you.
You’re not Best Buy and you’re not Target so stop the discount!
I’m not going to bury the lead any further, the message you’re putting out is: Wait and you’ll get a better price. We humans see patterns, be it conscious or in our sub-conscious, and pricing is no exception. What you’re doing is creating a habit, the same habit that you’re probably telling other to no pre-order or wait for a game to drop in price… since they always do… and now you’re repeating it yourself. You’re punishing those that are the most enthusiastic about you, the ones that are the most dedicated and the ones that you want to come back next time you sell something. Those are the ones you’re punishing when you slap a 20% or a 10% a few months after the first printing of the Twitch merchandise is sold.
Want to talk money? Well those that kept buying will over time start to notice that if they just wait until Christmas or maybe a month or two they’ll get it cheaper. There’s no urgency, there’s no scarcity and instead you’re presenting a better option by just waiting, and guess what? By doing that you’re losing money. You’re every full price sale is a less money earned from Twitch merchandise. If you keep up you constantly discount all of the early adopters will move over to waiting and you’ll lose money and you’ll lose more and more over time.
I don’t expect Twitch streamers to understand merchandise, after all that’s not what a streamer went it streaming to do, what I’m hoping is that this will at least get you starting to think about other, better, options.
What’s a better option for your Twitch merchandise?
The best option is always going to be to reward those that shop early. Those are after all, as mentioned above, the ones that are the most dedicated and most likely to come back for more.
There’s a really successful model that I don’t think enough people are using, and it creates urgency and scarcity, and that’s to simply say that the price will be cheaper at the start but after a certain time it will go up. You’re now rewarding those that want to get in early and you’re going to create a buzz when they start getting their orders and posting images. The ones that missed out are not more inclined to buy at the new, more expensive, price or else they’ll miss out on the same enjoyment that those that are posting images are.
I don’t want to dig too deep in this article but there’s a lot of different ways you can reward early adopters and not punish them by lowering prices later on. After all isn’t that the very thing that a lot of people hate about buying games? Why buy at the start when you can get it cheaper down the line? And the reason so many buy at the start is often the scarcity and that you’re going to miss out on the excitement. By taking the scarcity, excitement and elimination the punishment you’re going to have a better return.
But Daniel I’ll lose money! Maybe. But the truth is that I’m not looking towards the future and building towards that future. The sooner you set that precedence the sooner people are going to adapt to it and understand that you’re going to be consistent.
Creating a promotion campaign for you Twitch merchandise
Lastly i want to shortly touch on is to create that excitement for your Twitch merchandise before you start anything. Having an event around it or having a campaign that allows your audience to share the message with as many as possible.
Looking back something like this wouldn’t have been possible only a year or so back. However with the standard of Twitch merchandise going up and not just being the streamer trying to sell you an internal joke but instead focus on actually producing Twitch merchandise that looks good, we’re going to see the possibility to use it to create interest in your Twitch channel.
This isn’t as simple as to tell people to Tweet it our share it with friends and it’s not just taking any random design. This takes time, effort and talking with a art director and project manager to really get something good going with your next Twitch merchandise campaign.
You can see this is a prediction for the future as well and trust me that it’s going to start happening more and more this year.
Do you need Twitch branding or Twitch merchandise done the right way? I’ve work with both partnered and non-partnered Twitch streamers and done so for over 3 years. For me this is full time and I’m dedicated to my clients and my craft. I do both branding, visual branding and brainstorming based on understanding you, your community and your channel. If that sounds interesting to you then you should check out my Twitch services/portfolio/client list and contact me right away.[mks_button size=”medium” title=”Twitch branding and consulting” style=”rounded” url=”http://twitch.livespace.se/” target=”_blank” bg_color=”#eeee22″ txt_color=”#0a0a0a” icon=”fa-arrow-right” icon_type=”fa”] [/mks_two_thirds] [mks_one_third][mks_icon icon=”fa-twitter” color=”#000000″ type=”fa”] @visiblespeech
I know this is sort of out of what I usually do an more towards selling. Did you enjoy the content? Let me know on Twitter! @visiblespeech
For today’s Swedish word let’s go with vår. Swedish, the same way English can have the same word for different things, so vår can mean; ours, or it can mean; spring. In this case, since we have some beautiful vår väder ( spring weather) I think it’s very much appropriate.