If you're unfamiliar with the term incentive marketing company, chances are you're still using it. If you think you might be, keep reading. We're going to talk about what incentive marketing is, and why it's a bad idea. Sound good? Great…read on below.
Business Dictionary defines incentive marketing as "the use of persuasive devices to encourage the sale of goods or services". For me, the word incentive marketing sounds almost like something a robot masquerading as a human resource director would say while waving a stack of charts and graphs labeled with numbers that indicate a company's profitability. If you were to actually meet a real-life incentive marketing manager, odds are they wouldn't look very human at all. They might just bark at you, like a dog.
If you think that incentive marketing could help boost sales, think again. Incentive marketing isn't a tool to gain loyal customers, and in fact, it can cause more customer churn than a bad haircut. The only reason someone would use incentive marketing is if they needed quick results, but they don't care whether their incentive marketing company is profitable or not. In this case, giving out rewards would be counterproductive.
What most companies do, incentive marketing programs in general, work by enticing a customer base. The consumer is tricked into believing that if they sign up for the loyalty program, they will be able to save money or obtain special offers. When the consumer realizes that these "gifts" are just empty promises, they often turn around and unsubscribe from the program. What am I talking about? Let's take Amazon for example;
If you want to learn how to make money with social media marketing incentives, all you have to do is look at their prime money-making programs. Amazon is one of the most successful marketing programs ever, and it started as an online bookstore. They offered books for low prices and added the option of free two-day shipping for an extra fee. Over time, the books sell like hotcakes, and Amazon doesn't just earn profits on the back end, they earn profits on the front end as well. This means that their customers, who signed up for the loyalty program, are now enjoying free two-day shipping, and a $10 discount on every order.
The real motivation behind incentive marketing on Amazon is not to convince people to buy but to keep customers from leaving the store without buying. If you walk into an Amazon store, you might feel overwhelmed with all of the products. At first glance, it might not seem like anyone is making any money. But that is because you haven't been walking through the doors or listening to the sales pitches, and haven't placed any orders.
Incentive marketing on Amazon, on the other hand, is more subtle. If you use the same tactics as you would in a brick-and-mortar store, you will end up getting more customer feedback and have a better idea of what your actual profit margin might be. When you add in a rewards program, you can see exactly what you need to do to maximize your return on investment. incentive marketing on Amazon, using free two-day shipping and a discounted membership to get free products, is a great way to leverage the power of customer service incentives. You can reward loyal customers by giving them even more free stuff, and they will keep coming back to purchase other products from you when they know that they are getting some added value from their Amazon Prime membership.
As you can see, incentive marketing on Amazon can really pay off for you, and for your customers. If you want to learn how incentive marketing on Amazon works, you can visit Amazon's website, click on "incentive streams" in the left-hand navigation bar, or go to "incentive storage". There you will find all the information you need to know about incentive programs on Amazon, including an explanation of how they work. Take advantage of this powerful strategy to increase your business's profitability, attract new customers, and make more money on Amazon.