Customer acquisition incentives
Establishing an effective sales incentive can be a great way to drive sales and develop lasting relationships with your key trade partners or consumers. A successful incentive campaign can dramatically improve brand awareness, grab market share from your competitors and reduce attrition rates, but there are several potential pitfalls to avoid when considering an incentive program:
- Can the business afford it? What if the promotion operates beyond all expectations; what would be the company's exposure and what steps do we need to take to limit/insure against this eventuality?
- Who will administer the scheme? Operating a patchy, unreliable dealer incentive is worse than not operating one at all. Conversely, providing a slick, easy to understand scheme will make the all the difference to how many customers sign-up. If you haven't the resources to provide the latter, then it might be time to outsource the administration.
- Which rewards work the best? Cash incentives, travel incentives, merchandise, gift vouchers; the options for an effective incentive program are endless. The key is really getting to know what might motivate the recipient rather than making presumptions.
- Love2reward is acknowledged as the UK's leading provider of multi option gift vouchers, but can also provide the platform to deliver your sales incentive.
The solutions we recommend you consider for this initiative are as follows: