Successful marketing comes in all shapes and sizes.
From SEO to social media marketing, email outreach to affiliate programs, marketers have lots on their plates. Sometimes, however, successful marketing can be very simple, indeed.
The central premise of incentive marketing could hardly be more straightforward. It’s all about appealing to our innate desire to earn rewards or win prizes. For global brands and small firms alike, marketing incentives can boost sales significantly.
What is incentive marketing?
Businesses exist to make money. Most of them do so by selling a product or service. Marketing boosts online sales, as well as turnover in brick-and-mortar locations. Incentive marketing is one of many strings to a marketer’s bow. Its principle is simple; take the action we want and we’ll give you something in return. What action it is that you reward will depend on your business. It may be buying a product, signing up to an email list, staying loyal to a brand, or downloading an eBook.
A SaaS business, for instance, might offer a free trial of an HD video conferencing tool. They could provide it to anyone who downloads a PDF guide to virtual meetings. Marketing incentives work as they give consumers a final nudge to interact with your brand.