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Increase Your Bottom Line With Incentive Marketing
Incentive marketing isn't just one of those sweet little strings to someone's bow. Its basic concept is easy; take the necessary action demand and then give back something in exchange. What action you reward will obviously depend on your industry. For instance, it might be earning a product, signing up for a free email list, or simply staying loyal to an online brand.

One of the most popular forms of incentive marketing is sweepstakes. Now, I don't mean just any sweepstakes. Just any sweepstakes won't do because most people are too lazy to go out of their way to find something worth entering. If your business has a solid reputation built on providing a good product or service, then this type of marketing should work for you.

Sweepstakes are nice because they're quick and easy. What incentive marketing incentives does this method provide? Well, for starters you can gain leads (a.k.a. traffic) to your website. Social media has been around for a while now and it's still growing in popularity, so using social media sites like Facebook, Twitter and Foursquare to gain leads to your website should definitely be part of your sweepstakes incentives.

What about the other types of incentives that incentive marketing provides? There's prizes and discounts to be given away. One of the easiest ways to gain leads with this method is by giving prizes away. You could set yourself a monthly goal of raking in $10 from every person that you send a newsletter to or give away a discount coupon book.

Motivational devices are another type of incentive marketing incentives. We all know that a company with a good rewards program gets more sales. If your company doesn't have one then you need to implement one. A good motivator for your customers could be a vacation discount or a coupon for a future purchase.

Other types of incentive marketing programs include coupons and rebates. Coupons are great because people love saving money. It's just like getting free food at the grocery store or some other type of freebie from a business. A rebate is something that is paid automatically. The benefit of rebate rewards programs is two-fold: first, you get free rewards; second, people tend to keep these rewards because they are so useful. Amazon Prime and eBay are examples of companies that offer instant rebate credit programs.

Another type of marketing incentive program is loyalty programs. This type of program uses a point system and rewards various aspects of the customer's life including discounts on products. Examples include membership cards that give discounts on books, movies, airline tickets, dinner reservations and so much more. These kinds of programs provide many different ways to increase your company's sales while building loyalty amongst your customer base.

When it comes to incentive marketing the sky is really the limit. What works for one company may not work for yours. You need to develop your own unique incentive marketing program. There are many great books that can help you along the way.

The most important thing to keep in mind about incentive marketing is the main goal. You want your incentive programs to accomplish one thing: increase sales. If you're just looking to increase your company's revenue then focus mainly on non-monetary rewards like discounts. If you have a firm marketing plan then you may wish to focus on monetary rewards as well.

For example, if you run a hotel, you can offer discounts for staying longer, or even provide discounts for staying with the same hotel for an entire year. Non-monetary rewards marketing is just as powerful as monetary rewards marketing when it comes to driving up the amount of business that your business receives. Just ask people to fill out a survey about their experiences at your hotel and you can receive credit towards future stays. This is a classic incentive marketing strategy that is known all over the world.

If you don't believe in incentives, or think that you'll only have success with monetary incentives, think again. Incentive marketing is very effective and has been proven to increase sales and profits tremendously. You don't even have to have a clear understanding of how to implement incentive marketing; all you need to do is understand what works for other businesses. There are hundreds of examples of other businesses successfully implementing these strategies. Start looking at what your competitors are doing, copy what they are doing, and adapt it to your own business model.

Motivating customers is a key part of having successful incentive marketing programs. If you want to increase sales and boost profits then you have to be sure that your customers are motivated enough to purchase from you. One way to do this is to offer discounts on purchases, special offers, and other things that would typically increase loyalty among customers. When you're dealing with loyal customers, they tend to stay loyal because they know that they're getting something out of it, and that they wouldn't get it from anyone else. These are some of the best incentive marketing ideas out there, and if you implement them successfully, you will be able to increase your bottom line.
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