There are many ways to reach consumers today on social media, from celebrity endorsements to social media influencers highlighting products in sponsored posts. A newer tactic that’s providing high-impact social influence over consumer purchasing decisions is rewards-based marketing. Consumers can often be motivated to share their favorite products with their friends and followers on social media, especially if their post offers a reward in return. By leveraging consumer incentives, brands can expand their audiences and boost sales.
Why Incentives Work in Marketing
Many consumers are willing to share information across social media platforms for the chance to receive an incentive, and marketing efforts can be adjusted to better accommodate this — e.g., offering more rewards for more shares on multiple platforms. Unlike influencers and celebrities who generally post to a few platforms for a pre-determined cost, consumers might share content on multiple platforms, not just Facebook, Instagram and Twitter, if it means they can earn a bigger reward.