An incentive marketing company provides businesses with a powerful, streamlined tool for collecting valuable information from their customers and employees. A central database makes it simple for employees to view how they're performing relative to business goals. The platform collects this information through a Web-based application and reports it to the business owner via a telephone or other secure channel. Here's how incentive marketing can benefit your business.
One of the most powerful ways that a quality incentive marketing platform enables you to reach your sales goals is through the use of incentives tied to specific sales activities. For example, you may use customer loyalty programs to reward repeat clients. Or you may reward salespeople for increasing the number of sales they make. This is often done through specially designed promos and seasonal offers, or by providing cash bonuses for the achievement of specific sales targets.
Another way incentive marketing platforms make it easier for you to achieve specific goals is by using targeted sales letters. These letters often contain one or more of the following elements such as an offer, a call to action, or a reminder. Once the recipient opens the letter, the product details are revealed. Often, the recipient is then given a chance to opt-in to receive further information. If they do so, they'll receive a notice informing them of their increased level of participation in the company's incentive programs. At the end of the letter, they may be asked to confirm their email address, so that they can begin to receive future emails regarding new incentive programs.
If you want to know how your incentive marketing company can benefit from implementing an incentive marketing platform, look first at the technology that drives it. For many businesses, it's a simple matter to access all of this information through the Internet. However, if your business needs a more in-depth approach, it may be best to visit with someone who can explain the ins and outs of incentive programs in greater detail. Fortunately, there are plenty of qualified experts available these days, so you shouldn't have any trouble finding someone who can help.
In some cases, it's possible to integrate your incentive marketing platform with a cloud-based platform as well. This way, you can take your customers offsite and give them access to all of the same tools that your online tools offer. When they perform a certain action, such as signing up for a newsletter or purchasing a particular service or product, they'll be provided with notifications about the programs that you've put together for them. They can also receive cash bonuses for making purchases online, and the platform will automatically deduct these payments from their account each month.
The other type of incentive marketing offer is called the funnel. If you've ever taken a look at the various online survey panels that allow people to build up points and accumulate gifts, you probably already understand the basic idea behind the concept. Basically, a customer completes an offer based on various demographics and characteristics, whether they're male-female, young, old, rich, poor, or somewhere in between. The system then assigns points to these people, and the more points that they have collected, the more likely they'll qualify for a larger and greater incentive.
Of course, the real power of incentive marketing platforms and the types of offers that they can bring to bear lies within the way in which they work. When you're planning to create your incentive marketing platform, it's important that you find a way to make sure that everyone involved knows what you plan to do. That means coming up with some sort of reward system that ties into the individual incentive program. You may want to award every member a set monetary value whenever they reach a certain number of points, or you may choose to instead award them with a gift card, discount ticket, or other form of prize. You need to figure out how you're going to tie it in with the overall incentive marketing offer as well, in other words, if the price alone isn't good enough, you need to increase the value of the goods or services that you're trying to sell.
It's at this point that you really open up the doors with regards to creating incentive marketing platforms that work for your own company. In this case, it's crucial that you find a company in the London-based startup space that you can work with on a regular basis, and that has the resources in terms of people and technology to create the right digital rewards programs. If you have the best of both worlds, you'll have the ability to give your clients high-quality services and to continuously raise your brand's awareness at the same time. By using a digital rewards program to launch your business, you can begin to realize the rewards of doing business in London-based startup accelerator London.