Incentivized promotion is a form of direct marketing which makes use of incentives to assist a business to succeed in its advertising and marketing efforts. The most well-known incentives used in incentive marketing are profit sharing, loyalty rewards, or even cash rewards to demonstrate appreciation for the company's efforts. These types of business incentives all tend to offer a way to motivate employees to work harder or come up with new ways to meet customer demands. As a bonus, incentives can also often be given to customers who buy particular products or services at a certain time. This form of indirect promotion has been around for decades and is becoming more common as businesses look for new ways to increase productivity and increase profitability. Many businesses use incentive marketing techniques every day.
Incentivized promotion is often used in the marketing of services, rather than products. For example, the marketing of certain physical products like shoes, clothes, and bags uses incentives in order to increase sales and draw in customers. A local clothing boutique may reward customers who bring their children to try out a new line of children's clothes by giving them a discount on the entire purchase of the children's clothes when they bring their kids along with them to shop. This same boutique might give customers a discount on their entire purchase of shoes if they bring along a family member to shop.
Incentivized promotions of any kind can appeal to our natural tendencies to act in a self-interest manner. When we receive a gift or win a prize, we naturally feel a sense of pride and accomplishment. By using incentives in our marketing efforts, we allow ourselves to feel this pride and accomplishment without coming right out and saying "incentivize me!". Many people feel that by using incentives in their marketing techniques they are not being completely honest with their customers about the value of what they are offering. The integrity of a business can easily be compromised if it is not absolutely 100% honest with its customers about the motivations for its marketing activities. When a business resorts to unethical behavior, it gives the customer a reason not to purchase the product or service that the business offers.
Giving gifts as incentives to customers is actually a very old practice. When soldiers were stationed in different areas throughout the world, their field manuals would often include tips on how to get customers to refer their friends and family back to your military base. This strategy worked because it was possible for everyone on the field to gain access to the same information. Since everyone had the same resource, they had the knowledge on how to get customers to refer their friends and families to you. This is basically what is happening when a business uses an incentive marketing offer.
Most companies are still using incentivized marketing strategies today in order to draw in new customers, increase sales, and entice repeat sales. Motivational speakers, event planners, and advertising agencies all use incentives to draw in new customers and entice them to become regular clients. An event planner who uses an incentive marketing offer to invite a potential client to a meeting or a job fair can expect that client to make a referral to the event planner if they were impressed enough by the offer.
If you are interested in implementing incentive marketing offers in order to get customers to make referrals to your business, it is important to first consider what exactly motivates the customer. Is it because they need more guidance in a certain area? Is it because they need help deciding between two businesses? Is it because they are unhappy with one business and really want to switch to a new one? These are all valid reasons why a customer would be willing to give you an incentive for referring customers to your business.
Once you have determined what motivates the customer, the next step is to create an incentive marketing platform that can be used to pull in new customers and increase customer satisfaction. There are many online platforms that can be used as an incentive marketing platform. Some of these include blogs, articles, podcasts, videos, surveys, and even puzzles. By implementing each of these different incentive marketing platforms, you will be able to attract new customers and drive up customer satisfaction while increasing the number of referral sales that result from those customers being referred.
In the final analysis, using an incentive marketing platform in order to increase customer satisfaction and drive referral sales can be extremely beneficial to your business. If you are interested in implementing an incentive marketing campaign in order to drive new customers to your business, it is important to ensure that the methods that you use to motivate customers are ones that have a high degree of success. In doing so, you will be able to ensure that you are attracting more customers and creating a happier customer base. With this information, you should have a good idea as to why implementing an incentive marketing platform is beneficial for your business.