Marketing incentives come in many choices, ironically making it tougher for marketers to pick one. With so many options, how do you know which incentive will have the biggest impact and help you achieve your marketing goal, whether it is to increase brand awareness, encourage brand loyalty and repeat business, or boost customer referrals? While the choice may seem difficult, the answer is actually quite simple: you first need to know what your customers or your prospects really want. While incentives vary in form, the most successful ones always enhance the customer’s experience and add value to any purchase.
Many companies understand that prizes and rewards are some of the most popular marketing incentives. Who doesn’t like a free lunch, free shipping, a gift card, a free product, or even free money? For example, McDonald’s Monopoly Sweepstakes incentive campaign has been running on and off since 1987, proving its success year after year. In return, the company has increased customer loyalty and raised brand awareness. Another successful marketing incentive, although in this case, a purchase first needs to be made in order to receive the reward, is Amazon Prime. Originally started to promote free two-day shipping, the program now offers free e-book downloads, free online video and movie streaming, and unlimited digital photo storage to name a few.
When it comes to the travel industry, and in particular the timeshare industry, timeshare buyers and prospects tend to enjoy travel incentives the most, especially if they complement their purchase. Popular incentives include free airline points and miles, and of course any opportunity for a free or cost-reduced vacation, including air travel, a stay at a luxurious resort, or a Caribbean cruise.
Once you decide on the best marketing incentive to use with your customers or prospects, promotion is key to your marketing campaign’s success. If your incentive cannot be used right now, make the effort to remind your customers that the reward is available. A series of emails at regular intervals can serve as a gentle reminder, as well as an opportunity to provide details about the incentive the customer may not know about. Remember that the simpler it is to claim the reward, the higher response rate you will achieve.
No matter what type of incentive you choose, your marketing campaign should aim at improving your customers’ overall experience and adding value to their purchases. Making your customers feeling valued and rewarded for doing business with you is a proven way to develop brand awareness, loyalty, and referrals. If your company is ready to start a new incentive marketing campaign, please give us a call so we can closely analyze your prospect base and suggest the travel incentives that will generate the highest conversion rate.