The many benefits of using an incentivized marketing to create company incentive programs are many and varied. Companies that have not yet taken advantage of what an incentive marketing platform can do for them will find themselves falling behind the competition, while those that have already begun using these systems may find that they are even more productive. It takes a little bit of effort to get started with one of these programs. If you are looking into incentive marketing platforms, here are some of the basics to keep in mind.
First, incentive marketing incentives must be tied to a specific goal. When determining what incentive marketing incentives to offer your employees, you should first take a look at how your business is performing relative to its competitors. An ideal incentive marketing program will be one that allows your business to maintain or improve its competitive advantage. For instance, if you currently sell products at a very high price, then you should probably offer your most loyal customers special prices. On the other hand, if your products are reasonably priced, then you may want to increase your sales per employee by changing how you price your products.
Secondly, your incentive marketing platform should be easy to use. There are some great incentive programs that simply require your employees to log in to a website, enter their email address, and the rewards will be delivered to them automatically. Other incentive programs, however, are much more complicated and may require your employees to download software or purchase specific software to use the system. Regardless of what incentive programs you choose, make sure that they are easy to use. If your employees cannot log in, or if you cannot install software on their computer, then you may find yourself losing out on valuable revenue. You also need incentive software that is simple to use, if your employees have to search through the manuals or spend time finding what they are looking for, your incentive program will not be as effective.
Thirdly, you must select an incentive marketing platform that will work for your particular business. Many companies make the mistake of using a one size fits all approach to incentive programs. While a one size fits all system will work in many cases, it may not be the right one for your business. For example, if you sell spa services, then using a cloud-based platform that offers loyalty rewards may be a better choice than using a traditional CRM program. A cloud-based platform will allow you to easily manage and track the relationships between your employees and their clients. It will also make it easier for you to monitor the loyalty programs that you are offering.
Fourth, you must determine whether your company needs an in-house incentive marketing platform or an independent one. In-house incentive marketing platforms are typically used by larger businesses that have a large staff. The cost of maintaining a team of in-house sales agents is extremely high. On the other hand, an independent incentive marketing platform can be customized to meet the unique needs of your organization. It will allow you to keep your employees happy and motivated while still making a profit.
Fifth, you should ensure that your new members are properly trained. Training is an essential part of any incentivized marketing campaign. You cannot expect new members to understand how to reach their goals if you do not teach them. A good incentive marketing platform will give you access to training videos, email templates, online support tickets, messaging systems, and a community forum.
Sixth, you need to choose a company that understands your industry and that has experience designing incentive programs. There is no way that you can effectively market your products or services if you are not an expert in the field. Many of the best incentive marketing platforms come with industry-specific training so that you can get expert advice on how to design the best incentive programs. This kind of expertise goes a long way because only the most successful companies have the ability to provide you with customized incentive programs.
Lastly, you want to make sure that your new incentive marketing platform will track all of the data that you collect. Without a solid system in place, you will discover that your efforts are largely futile. You must have an incentive program that can collect the data that you need in order to make your campaigns more effective. Whether you are looking to increase the rate at which your customers purchase, reduce the cost of your goods or services, or improve the level of loyalty that they have, you should be able to do so when you use the right incentive marketing platform. With these six tips, you will find that it is easier than ever to increase your customer loyalty, increase your customer satisfaction and improve the ROI of your incentive marketing programs.