No matter their age, financial status, or shopping habits, customers love promotional incentives.
When it comes down to choosing between a company that offers a gift card incentive and a company that offers the same exact product and service, which company do you think the client is going to choose? Undoubtedly, they will choose the company who offers them incentives and rewards!
But to build an incentive program that proves itself to be successful, profitable, and worthwhile, there are five easy strategies that companies must implement. After all, there is a difference between an incentive program and an irresistible incentive program.
Studies show that engaged customers are perhaps the most valuable customers for your business. In fact, customers who are actively engaged with companies are four times more likely to appreciate when a company reaches out to them for feedback and promotional offers. Also, engaged customers are seven times more likely to respond to a promotional offer.
So, what can your company do to build successful relationships with your customers that will not only benefit them, but also provide useful information to you? Offer consumer gift card incentives and customer loyalty programs that will keep your customers happy, engaged, and feeling valued.
5 Effective Promotional Strategies
There are five effective strategies that increase your chances of building a successful loyalty program. These include:
- Letting your customers make decisions
- Properly structuring the plan
- Relying on a trusted Promotion and Incentives company
- Knowing your users
- Concentrating on your most valued customers
Now, let’s dive in and discuss these strategies in more detail!
Let Your Customers Make Decisions
Customers love to know they are valued, so by letting your customers choose their promotional incentives is a great way to give them exactly what they want. Instead of offering a one-size-fits-all reward to each of your clients, let your customers choose for themselves.
Additionally, ask them to complete a survey or offer feedback in return for rewards points. For example, our new Customer Loyal Rewards Application lets your customers earn points and rewards just for referring their friends and family or giving feedback in a short surveys! It’s a solution where everyone benefits!
Properly Structure the Plan
You have an outstanding idea for a reward, that’s great, but now you need to figure out the best way to reward your clients. Make sure your process is overly complex, otherwise customers may not bother.
Rely on a Trusted Promotions Company
Many companies make the mistake of focusing on the cost per incentive rather than ROI. One of the many benefits to working with Mpell Promotions is our many programs and flexibility in price.
When you work with a promotional marketing agency like Mpell Promotions, not only will you save money, you’ll have full access to our team of the very experienced professionals.
Know Your Users: Promotional or Corporate?
To develop an effective incentive program that your clients will use and love, you first need to know and understand your target audience. For example, your promotional incentives typically fall under the categories of corporate incentives and promotional incentives.
Let’s highlight the differences between the two:
- Promotional Incentives: These are generally focused toward consumers and are offered as a reward for doing business with your company or purchasing your products or services.
- Corporate rewards are meant to reward your audience, perhaps your employees for a job well done, achieving their sales goals, or a holiday thank you.
Focus on Your Best Customers
Offering consumer incentives year-round is a great investment, especially when you hope to increase customer acquisition rates. However, it’s especially important that you reward your most valued or most engaged customers to keep them happy and make them want to stay with your company for years to come. Customer loyalty programs or simple rewards throughout the year can do the trick.
Don’t let your best customers get away—show your clients that you appreciate them by offering them promotional incentives that bring you lasting success and show your valued clients that you appreciate them and their longtime business.