A good part of every organization's marketing mix, incentivized marketing is a wonderful way to target customers and increase your profits. Businesses that use incentive marketing as part of their marketing mix have seen the return on investment to triple their sales.
Basically, when you introduce incentives into your marketing mix, you're telling your customers to buy. The key is to make them want to buy. If you can do that, then you can use incentive marketing to sell your products and services.
What's an incentive? It's any extra service or benefit that you can offer your customers in exchange for a purchase. For example, a pizza delivery guy could give a customer a free pie if they purchase a bottle of wine from him. These kinds of "wins" are known as "incentives".
Many companies have turned to the Internet to help them with their incentive marketing efforts. The reason is that you don't need employees to come into the store to perform these promotions.
Another big advantage is that you can reach potential customers much faster. A simple, short email can keep customers interested in your business. You can build a relationship with them and watch their business grow as well.
With incentivized marketing, you can make money from more people than you ever thought possible. Incentive marketing is the best way to get customers to buy from you again.
But before you can even think about making any money from incentive marketing, you need to establish where your customers are coming from and where they're going to be spending their money. You must focus on the bottom line and not lose sight of your customers.
One great way to do this is to provide incentives for long-term referrals. This works by giving your customers something they'll be able to keep for a long time that they can call their own and use anytime they want.
Reward them with a free gift every time someone refers another person to your business. You can provide pens, key chains, boxes of cheese, or anything else that you think they'll be interested in. The more referrals you receive, the better you'll look to the customer.
Make sure you always have some type of incentive in place that will help you keep a constant customer. To do this, you need to keep track of each individual customer's spending habits so you can adjust the incentives accordingly.
For example, if the customer likes the pen you gave them one time, make sure they receive a second pen every month for free. Or, perhaps you can reward them for calling you when they receive the first pen.
Overall, incentive marketing is one of the best ways to ensure you have repeat customers. Always take the time to plan your strategies carefully and have them established in advance so that you can start getting your rewards immediately.