If there is one term that almost everyone seems to have heard of and probably know about, it would be incentivized marketing. But what exactly is it? How does it affect your business? And most importantly, why is it so effective? Here are some answers to your all questions regarding incentive marketing.
First off, incentive marketing is a certain approach to persuade folks to perform something for you, your company, or your products by offering them something in return for doing so. Often times, these individuals are your customers and regular costumers. In incentive marketing, you are your costumer and customer's best friend. In this way, incentive marketing can prove to be very beneficial to you and your business.
One type of incentive marketing is through rewards. Rewards can come in the form of discounts, freebies, merchandise, services, and even money itself. Motivational devices are also used to motivate costumers to use your products and services. For instance, if you sell fitness equipment, you could come up with an incentive marketing campaign wherein you give away free workouts DVDs along with a receipt for your purchases.
It is important that you choose your rewards wisely. You wouldn't want to give a discount to your audience if half of them are not interested in getting fit. Likewise, you wouldn't want your customers to use your product if no one in your audience wants to. In fact, you shouldn't even offer them a reward. Instead, focus on targeting your audience with a special incentive marketing campaign that is specifically designed for your target audience.
One example of good incentive marketing campaigns is giving out prizes for every time a visitor clicks on your website. This would encourage visitors to visit your site again since they would get something out of it, such as a discount or freebies. Aside from that, you could also use an incentive campaign that requires customers to refer their friends and colleagues. In this case, it is still important that you choose your reward carefully. A prize should not only be something that could easily be discarded, but should also be something that is worth your time and effort.
Another good incentive marketing strategy is the use of motivational devices. Incentive programs, like freebies and discount offers, go well with the concept of motivational devices. You could create a website where you post promotional videos or audios about your products or services, along with links to sign up and download your freebie or discount offer. You could also include images and quotes about your company and your website and encourage people to click on these materials so that you could earn more sign-ups and sales. This is the best option if you are trying to encourage customers to visit your website repeatedly.
Motivational devices are also good incentives for certain sales campaigns. You could have sales volunteers go around the neighborhood and hand out a small reward, such as a candy bar, after they have brought in a customer. Make sure though that your volunteers are not allowed to ask people for their money before they have received it. This way, you can keep track of how much incentivized marketing strategy you are using, and whether or not it is working out. Some people have gotten the idea that all they need to get more sales is to have more people come to them. Although this may be true to a degree, it is not always the best idea because the more people you can get to come to your store, the more likely it is that some of them will not actually buy anything.
You could also use an incentive marketing strategy that simply involves getting more customers to visit your website by offering them freebies, such as an eBook. Many websites now offer free ebooks with download options that provide useful information about your company. Free books are just one way you can get potential customers to come to your website. You should consider all of your options before you make any final decisions on what kind of incentive marketing program to use.