Drive ROI through Loyalty Program Incentives
Are you looking for a way to spice up your customer acquisition marketing campaign? Do you need to freshen up your current campaign to increase your loyal advocates? Are you looking to add excitement to your recruitment promotion? If any of these fit you, a short-term incentive marketing promotion will benefit you and drive up your ROI.
If you’re wondering how a short-term loyalty program works and why you need one, it’s quite simple. If you’re in market research and have noticed that, despite having an excellent base of research participants, you’ve started to see a drop off in participation it may be a sign that your rewards are no longer appealing to your panelists. If your reward offerings haven’t been updated in months, your participation may continue to decline and if nothing changes, you’ll lose your base. You will need to make an aggressive move to reengage your panelists, acquire new customers, and keep your current customers happy and loyal.
The next step to reach your goals is to implement a short-term reward program to introduce some new and exciting rewards to your participants via email, text messages, and direct mail. Bring your panelists back to your site and engaging with new content. You can also use your short-term promotion to reward current users, increasing their loyalty to you.
Additionally, businesses will regularly use promotions for sales when launching new products. Do your sales team members need to learn more about the products and the services they are representing? Short term promotions can help to highlight specific products and services and you can easily inject a fresh promotion in an existing one. The program you want will need to be seamless from start to finish. You cannot overstress the importance of the transition from inception to reward compensation. The results of one bad review or comment can be devastating. It is imperative that you keep new clients coming in but also keep your current clients loyal and happy.
Current customers should be your short-term promotions’ primary target, however, the same techniques can be used to engage, recruit and acquire new customers. Here are some of the key promotions typically used in consumer-oriented short-term marketing promotions:
When planning out your incentive program and reviewing its requirements you should ask what are my goals, which program will work best, how often will the awarding take place, who do I want to attract, and what are the legal and budgetary restrictions? You can answer these questions for yourself but do you know what you will do with the answers? Are you looking for an incentive program management system that can enable you to accurately analyze and run reports to successfully run your promotions? At All Digital Rewards, we will not only help you to ensure you have asked all of the right questions, but ADR will also make sure that you can address all the right answers. For years, ADR has been expertly helping our clients design, build, launch, and manage consumer, employee, and channel incentive reward programs, and we have the solutions that will work for you.
If you would like more information on driving RIO in a loyalty program with incentives promotions, call us now at 866-415-7703 or click the button below to schedule a demo.