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How Can I Make More Money With Incentive Marketing?
When it comes to advertising, one of the most effective means to advertise your products and services is through incentive marketing. If you are looking for more information regarding incentive marketing, this article will help you understand it better. In incentive marketing, you have to offer a free incentive to your customers or costumers. This incentive can be anything - a discount on your product/service, a free gift, a cash incentive or even an entry into a sweepstakes. These incentives can be real and tangible or virtual and hypothetical.

Free gifts are a very popular incentive marketing strategy. One good example is the "Free Gift" Amazon promo code. Every time an Amazon customer makes a purchase at Amazon during the promotion period, he gets the gift. So, if a customer buys a laptop from you on the special price of only $100, he will get a free Amazon laptop. Another example is "One Free Gift Per Purchase" (FGP) policy at many major departmental stores. The benefit to the store owners is that the customers are required to make purchases (even if it's not required to make a purchase anyway) in order to qualify for the promotion.

Free money is another favorite incentive marketing program. Many companies give free promotional gifts to their costumers as a means of building long term relationship with them. It creates customer loyalty and ensures that the customer will continue to buy from that particular company even if he receives other promotional offers from other companies. The various free gifts that come with strategic marketing offers from banks and other financial institutions are:

Motivational Devices are one of the most important components of incentive marketing strategy. A variety of different products are offered under this category. These include: books, music, software, exercise materials, etc. The various benefits that these motivational devices impart to their recipients cannot be quantified in terms of monetary value.

Social Media Marketing A major strength of incentive marketing program is the use of social media marketing. A variety of social media sites like Facebook and Twitter have become an essential part of online marketing culture. Most of these sites are used by businesses and organizations for marketing their products and services. Under incentive marketing strategy, businesses often offer rewards to users of these social media sites who refer their friends to their website.

Customer Service Rewards Under incentive marketing offers, customer service is another significant aspect of the whole package. If the client is satisfied with the services, he will be more than happy to recommend it to others. Hence, the company can gain additional customer service revenue from these referrals. The various incentives that come with these customer service programs help the company to retain a customer for longer periods with them. This helps the company to grow its customer base. Incentive programs under strategic marketing offers may even help to convert some of these existing customers into loyalists.

Referral Bonus Under a common concept, a reward is given to a person who refers another person to the company. This is one of the most common forms of incentive marketing and is used in various industries. Under such a reward program, people get cash or other types of merchandise for referring new clients or customers. The companies that run these incentive programs provide customers with free advice and information about the products and services on offer. This helps the client to make a better decision when it comes to selecting the same.

Other forms of Non-monetary Rewards Another important aspect of incentive marketing involves the use of non-monetary incentives to encourage customers to refer others. For instance, you can ask people to sign up for your email newsletter or sign up for a service or product. This helps to increase the number of people who read the emails you send regarding your company. The company then compensates these individuals with services or goods at a later stage. You can also ask people to share your company's content with their friends or contacts on social media sites.
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