How To Make The Most Of A Customer Incentive Program
If you're looking at customer incentive program solutions, you also would likely prefer to find a way to maximize the return on your investment. Making the most of a program takes some effort, but you can follow these four tips to give your customer incentive efforts a boost.
People from all ages now have mobile phones, and they expect customer incentive programs to provide them easy access on the go. If you haven't already built an app, it's time to get to work. The use of opt-in marketing and push notifications makes it easy to send offers to customers when their phones detect they're near store locations. A properly designed app can fire off a targeted offer that can drive immediate sales.
Apps should also be built to make inventive programs super easy to work with. For example, an app could allow users to photography their receipts and UPCs to complete the rebate application process.
Make Rebates Count
Research from the Promotion Marketing Association indicates that consumers are 75.4% more likely to make a purchase if they expect to get cash back. Make sure all rebate offers are prominently displayed on signs, packages, and other promotional materials. Provide a mechanism that allows consumers to quickly fill out rebate forms, too. Even the most streamlined and simple rebate process yields nothing close to a 100% redemption rate, and that means there's still a lot of profit left over when all is said and done.
Incentives Should Revolve Around Business Models
It's also wise to build your rebate offers around a specific business model. Suppose a company sells printers for computers. Sure, they could offer a rebate for the printer. Working from the idea that printer companies are all about selling consumables, though, the rebate could instead be targeted at the first batch of ink cartridges the consumer buys. This should reinforce the purchasing behavior, and it pushes the redemption date further out.
With all this information coming in from consumers, it's a solid opportunity to turn data into gold. Include optional surveys with your customer incentive program solutions to nudge users toward filling out papers and web forms. You can then break consumers into many different demographic groups.
Use the inbound data to improve processes. If a group seems to be low on redemption, for example, marketing analysis can be used to narrow down what the problem might be.