Incentive marketing is the backbone of most businesses. Through incentives, companies can create excitement about a product or service and turn an event into a sale. Here are some tips to help you get started on your own incentivized marketing.
Incentive marketing platforms are systems that help you measure and share performance metrics and performance goals with everyone involved in the marketing initiative. You'll need to be specific about how you want your incentive marketing platform to work. A simple model might be one or two programs where rewards are given out for sales made by customers. Of course, this does not require you to set aside space for a separate space in your office.
Of course, successful incentivized marketing programs involve a detailed process that begins with developing a strong incentive marketing strategy. It will also involve putting these strategies into action. This may involve partnering with other departments within your company, such as human resources, finance, advertising, and the like. With several departments, the incentives can flow from department to department, creating a network of support that extends across the entire organization.
Incentive marketing platforms are also useful for the distribution of programs and strategies that support your business. For example, your efforts to get customers to sign up for free newsletters or email alerts could be distributed to various parts of your organization. In addition, marketing strategies that support customer retention could be circulated among your departmental levels. Of course, that also means that these strategies can be spread out over several departments, increasing the total number of people who are trained on the strategies.
The marketing platform helps your organization create incentives for new customers. It can also support you in finding and retaining current customers. On the other hand, it can provide a tool for reaching people outside of your organization.
An incentive marketing platform could bean interactive computer based system. It could be a web portal that connects to other organizational applications. It could be a library that features email alerts and tracking tools.
A marketing platform could be a digital version of the newspaper ads. It could offer links to products, news stories, videos, photos, and even e-books. It could also feature a social networking feature, or allow participants to post to a community bulletin board.
The core of an incentive marketing platform is its rewards. Often, these rewards will encourage customers to share their experiences with the products or services. For example, a reward might include a discount on a sale item or a gift certificate.
Feedback is another key component to any incentive program. Tracking and reporting on the feedback received from customers can tell you a lot about your product or service. Of course, it can also help you adjust your marketing activities and make changes as needed. For example, if a specific area of your business is generating fewer sales than it should, you could adjust the incentives for your existing customers.
Part of being effective and efficient is being able to quickly and easily identify a problem and fix it. Often, change management and customer support professionals are already working in one part of your organization. By integrating the training and support for your employees into your incentive marketing platform, you'll increase their productivity and make your existing customers happier as well. You'll also be able to keep track of what your employees are doing, so you can identify areas where they may need training.
Your incentive marketing platform could contain a number of separate programs. For example, you could have programs that help you gain new customers and then motivate them to refer others. You could also combine these programs into a single incentive marketing platform to drive more sales.
Incentive marketing platforms can help you achieve results faster. Your organization's success depends on you making it happen. With the right incentive marketing platform, you can transform the incentives in your business and build a solid foundation for a good relationship with your customers.