An incentive marketing company often includes the following tools. A questionnaire form for staff to fill out. This form may contain either a simple numerical rating, but more often it's common for it to also include recommendations on possible future improvements. You might also find this on incentive marketing sheets in some sales force automation software. The form also allows you to store and manage a wealth of customer and prospect information which can be used for follow-up and action points.
A rewards system for both you and your sales team to use. These could be vouchers or discounts for products or services that have been bought. Most incentive marketing company include a rewards system for the top-performing staff. These rewards can be given as bonuses for sales, or they can be a percentage of a bigger incentive payout, such as for achieving a specific target. Both methods provide you with an easy way to identify those who are doing well and reward them accordingly.
Motivation factors for various levels of the sales process. Some sales letters use an incentive marketing platform built right into the letter itself. Other systems allow you to create incentive incentives that motivate the person you are looking at the incentives for. These include things like personal use of a product, loyalty, participation, or completion of a certain task.
Customer relationship management (CRM) tools for all of the activity that takes place throughout the sales and marketing process. If you are able to integrate your incentive marketing platform with your CRM, you will be able to identify new leads, retrain the ones you have, and close old ones. These are all vital components for a successful and profitable business.
The third section of this article deals with customer loyalty. This is closely related to the second section mentioned above. Why is loyalty so important? Well, loyalty means much more than just purchasing a product and hoping that you are satisfied with it. Loyal customers will go out of their way to tell friends and family about your great service or product, and they will generally not go out of their way to tell other competitors that you are a great place to purchase your products.
On incentive marketing platforms, a customer's level of loyalty can be monitored through the metrics of several key components. These include total customer ROI, retention rate, returning customers, average order value, and return on investment. These components are usually measured over time, including overall revenue and profits for your business, versus the total number of incentive program transactions. If you want to get a feel for what your business is missing in order to retain loyal customers, a cloud-based platform can provide you with detailed information that you can actually track and analyze.
Another feature that many incentive marketing platforms have is the ability to use your own content as incentive programs. Many platforms allow you to customize the offers and the incentives that are available for customers, as well as the types of offers that can be transferred from one customer to another. By being able to manage your own incentive programs, you can ensure that they are as effective as possible. You can even choose how much if any, the money you would like to put up as incentives for customers.
The final feature that an incentive marketing platform can offer is the ability to let the customers decide whether or not they want to participate. If you have an incentive marketing offer, but you don't know if the customer will participate, you won't be able to make your offer. If the customer has no desire to take part in your incentive marketing program, then they won't. Therefore, you need to have an incentive marketing platform that allows you to determine how likely your customers are to take part in your incentive marketing offer. This is one of the most important factors to getting the most out of your incentive marketing platform and is one of the things that many companies fail to take advantage of when they use these platforms to run their incentive marketing programs.