When you have good incentivized marketing tactics and implementation, it's important that you start your company with good ethics. This is why you should carefully review any incentive marketing plan that you're considering implementing. There are many considerations that will greatly affect the amount of time and resources that your company invests in incentive marketing plans. Some of these considerations include your overall business objectives, how your products or services match up against competitors, and whether you want to focus on new markets or traditional markets. These are just a few of the issues that you'll face when making the decision to use incentive marketing in your own business.
One of the key questions you should ask before you jump into incentivized marketing is what is your overall return on investment? If your marketing mix isn't helping you achieve your goals, then you may not be getting enough of a return on investment. Incentive offers need to be able to stand on their own. If they are only helping you get customers to your door, then you've lost the game.
One of the most common mistakes made by those who try out incentive marketing promotion is to use different pricing schemes in different markets. For example, if you're in the travel industry then you'll probably want to price your product lower than if you're in the mortgage industry. This is because in the travel industry people will usually spend more money on plane tickets and hotel accommodations than they would on a loan.
The reason this mistake occurs is that you aren't always clear on exactly which market you want to serve. For example, if you're in the mortgage industry, then your goal might be to increase your customer base rather than build incentive walls. You can accomplish both goals at the same time, however, by having two separate incentive paths and a landing page. Let's talk about how you'd do this in a bit more detail.
When you price your product's low enough, you aren't limiting yourself to just new customers, but you're also taking the "little people" away from the equation as well. Pricing your products so low forces your existing customers to go out of their way to find you rather than turning to the nearest store. However, if you price your products a little higher you're encouraging your existing customers to take additional actions to solve some of the issues that may be affecting their bank account. For example, what if your customers bought a couple of things, and two or three of them need immediate shipping benefits? Rather than charging extra for shipping benefits, they could buy the things they need now, pay for shipping, and then apply the savings to their incentive plan.
Landing pages give marketers a chance to provide some real value to the visitors, while also generating some targeted traffic. The problem is that not all landing pages are created equal. Many websites fail to generate any traffic because they simply don't deliver value. The problem with giving incentives for a sale is that it's hard for marketers to know exactly whether or not the visitor will make a purchase. As a result, many marketers simply abandon attempts at landing page incentives altogether and focus on other forms of marketing.
However, the reality is that the right incentives can be quite effective at increasing sales, especially if they are focused and targeted. Incentive marketing isn't as simple as slapping a big "X" up on the front of a website and hoping the customers come through the crack. An effective incentive marketing platform requires a good deal of planning and ongoing attention. Marketers must identify their target customers, work to ensure that their website offers real value, and provide their visitors with a number of incentives to encourage them to purchase from them.
This is where good old-fashioned word-of-mouth can really pay off. When someone tells a friend about a great incentive website, the friend is more likely to come across it, as well as recommending it to their family and friends. Additionally, most businesses should be open to suggestions as to what types of incentives would be most appropriate for their business. This way, the marketing campaigns that produce the most results are those that are tailored to suit the needs of the business owner in question.
