Before you start your marketing campaign or your paid sales pitches, you should first have an initial target. At times this initial target can be as easy as promoting your company's brand, product, or service, but other times it might be a little more involved. How do you set your initial incentive marketing target? Some marketers use a spreadsheet, where each incentive is listed in the box, with the size of the box ranging from one to four. Other marketers use objective standards for their incentive marketing targets, such as "this incentive will get me X amount of new referrals", or "this incentive will result in Y number of new sign-ups".
There are many different ways that you might want to track your efforts. Some marketers track my results, looking at how much of an increase in sales they get each time they run this incentive program. Other marketers prefer to look at the performance of the program in terms of ROI (return on investment). How does the incentive marketing program affect or improve the overall performance of the company? Are there any areas where the program hurts or helps the company? This type of measurement can also help you decide whether you should continue with the incentive marketing program or not.
One of the most popular incentivized marketing today is rewards programs, which can also be called incentive programs. For example, you might create a customer loyalty reward program, where you provide customers with a discount or other form of incentive for referring others to your business. You might offer credit or debit card rewards. Or you might offer tickets or points. One of the most popular uses of rewards platforms today is through rewards programs like gas, airline tickets, and shopping discounts.
The beauty of having an incentive marketing platform is that you can use as many different rewards programs as you like. Incentive reward programs can be designed to give you cashback for every sale, a point for every mile that you drive, or even a percentage point for every dollar that you spend at a restaurant. In fact, many airlines offer frequent flier miles for those who take advantage of their frequent flyer program. And some hotels offer hotel points or room discounts for every night that you stay at their property. The opportunities to earn money and receive gifts from these programs are virtually endless.
Another popular incentive marketing platform today is the sales funnel. The sales funnel is simply the path that leads to your sales funnel. For example, if you have a website that sells shoes, your visitors are probably interested in trying a pair. However, they may not have enough money to purchase a pair. You can direct these visitors to a sales letter or incentive program that pays a commission if they purchase a shoe from your site.
When you design an incentive marketing platform, be sure that it includes the sales funnel so that your visitors can easily follow it to the products that they want. The sales letter will not provide the incentive that is necessary for a sale to occur. The price alone will be sufficient to compel many visitors to take one action or the other. However, without an incentive to continue on this path, there is no sale. It is important that you work to create a path that leads visitors to buy so that they can become new customers.
Finally, it is important that your incentive marketing platform includes strong customer incentives. This means that the visitors do not just have to purchase through your incentive marketing offer they must actually purchase a product. If they are not interested, they will not take the time to explore other options. Therefore, if you include a free product as part of an incentive marketing platform, the visitors will have nothing to lose and everything to gain. As they learn more about your company and what you offer, they will be inspired to visit and explore. More importantly, they will have something to keep once they are at your website.
All in all, using an incentive marketing platform for new funding opportunities is a smart choice for entrepreneurs looking to improve their business models. The London-based startup allows new businesses to easily issue e-gift cards in a variety of ways. It includes the ability to issue them to visitors and clients while automatically converting those cards into hard cash. This new funding innovation allows businesses to increase their bottom line while at the same time building loyalty among their customer base.