We know that getting customers can be one of the most critical parts of doing business. Once you attract them, incentive programs for customers can help you keep them. After working so hard to lure customers to your place of business, incentive programs will ensure they come back. They will be repeat customers and will share their satisfaction with friends and family. That’s where sales incentive programs can make all the difference.
Customers like to feel appreciated and even more than that, they like getting free stuff. So whether it’s a free item they can win, points they build up to buy things or a chance to win an all-expenses-paid trip to an exotic island, it will not only keep them coming back, but will encourage them to spend more each time they return. Loyalty programs are about building your bottom line with higher sales.
Using Points Programs as Incentives
A points incentive program is an easy way to reward your customers. This incentive gives points every time they spend a certain amount of money at your establishment. Gathering more points encourages higher sales. And of course, when they want to spend those points, they’re using them for your merchandise or services. It’s a win-win situation all around, and it’s easy to keep track: you can add up the points online or stamp or punch a physical card. Either way, it’s simple for employees to process the points and fun for customers to collect them.
Another way to make this happen is by charging a one-time fee. With this option, customers don’t have to reach a certain level of purchases to begin enjoying the benefits of the incentive plan. A fee-based loyalty plan also ties the customers into your business. They know they have paid a certain amount of money and to reap the rewards, they need to frequent your business. For your employees, this is similar to the point system. Your “premier” customers can wave a membership card in front of the cashier and automatically get a discount or a bonus.
Tiered Incentive Programs
The trick here is to balance out what you give to customers as an incentive with what they might expect or appreciate. For instance, to induce them to join your program, they might expect to receive a perk on the spot. This could be something like a discount coupon or a gift card toward their next purchase. That’s fine for a first offering, but as the customer shows loyalty by spending more time and money in your establishment, it might be good to up the ante a little and throw in a new incentive. This could be anything from a more valuable gift card to a gift from your business. The point here is that the customers come away with the feeling that the more they spend, the better the incentives will be.
Customer Referral Programs as Incentives
Customers who refer someone to your business often expect a reward for their loyalty — as well they should! They have just given your business a critical boost. They may have made the referral because they truly love your business. Others may have done it because they expect a reward. Either way, reward them! Build incentives into your program that encourage customers to help out with your marketing scheme. Whether it’s a discount card on their next purchase or an outright freebie, they will appreciate your thoughtfulness.
Making Incentive Programs Work
Once you have successful incentive programs in place, make sure everyone in your company knows the value of the plans and how to implement them. Give them the proper training to approach new customers with the reward system and reel them in. You might consider creating an additional incentive program that rewards employees for signing up new customers. This is where plans like group travel might come in as an incentive.
When you are ready to launch your incentive program, make it a huge deal. Drum up interest either online or through local news outlets to let everyone know what you’re about to launch. Coordinate your program to offer special incentives around holidays or seasonal specials. Create special promotional offers with your marketing team built around your incentive program. Take into account branding, timing, value-proposition and selective marketing channels.
Set up your incentive programs now for a better bottom line! Our team at Incentive Solutions is here to help you launch the perfect incentive program for customers. Visit us online to learn more and get started today.