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Introduction to Incentive Marketing

An incentive marketing platform should be highly focused to be effective. Many large companies have been operating for years with simple techniques and this could change the very foundation of your business.

Incentive marketing is very much like any other business opportunity. It does not matter how good your program is it is only as effective as the individual or team that is involved in running it.

Do your homework to see what companies are using various programs. Have a written definition of what the company is looking for. Look at different incentive marketing companies to see what they are offering and ask what the companies would like to see offered.

Talk to the companies you are interested in. Ask for sample data. They may give you what you are looking for in writing.

There are many sites online that can help you with incentive marketing platform. Many of them are free. Other sites offer high-priced services to those who use their services. You can do a lot to make your programs more effective, by either using free websites or paying for it.

Once you have defined your target market, it is time to turn to finding out more about the specific customers. It is good to get some background information on potential customers.

Use the same method to find out what their needs are. The first thing you need to know is how the marketer works. Your next step is to see how the products or services will fit into the customers' lives. Are there family members or friends who will benefit from the products or services?

Once you have determined which market you are targeting and which markets you are interested in working in, you are ready to take action. Remember that you need to find out if your prospect has a good price range. The solution is to market the product in the discounted pricing model.

If they have an average price for the product and you could offer them a discount price, then offer them this. Find out who the customer is and contact them to find out more. Try to follow up with a phone call to see how the conversation went.

Always make sure that the incentives or bonuses are well worth the price that is offered. It is not easy to do but you want to be able to reach people who will be motivated to spend their money. For example, offer a free training session if they purchase the product. This will help you reach more people who would not otherwise pay for your product.

Finally, do not forget that you have to get people who are willing to pay for what you are offering. Some people are always more difficult to get. If you are running a classroom activity or some other type of product, make sure that you are buying from people who have a demand for what you are selling.

You may have excellent salespeople who are so motivated to work for you that they will charge what you set. Others may be more reluctant to work hard for you and may go out of their way to try to get something for nothing. You need to determine who is trying to get your product and try to accommodate them by giving them a discount or bonus for signing up to become a part of your incentive marketing program.