+44 (0) 1256 335 622

Fight Back Marketing – leading the rebellion against gloom and doom

What could incentives do for you and your business?

 

In this the second part of our campaign to banish your business blues, we’re looking at INCENTIVES… and just a few of the ways you can use them to beat the pandemic.

 

Last time I talked about offers; but incentives are different – honestly!  Think of incentives as like dangling a carrot in front of a rabbit… if he jumps higher he can grab the reward… so if your customers, sales personnel or distributors jump higher = buy or sell more = they get a reward too.
 
But there’s more to it than just carrots!

 

Like the humble carrot, there are many varieties of incentive… the major ones being remunerative, financial, moral, coercive, natural and personal… so there’s more to incentives than I can possibly fit into just one email, but here’s 5 proven ways you could use them to help boost your business.

What do you need incentives to do for you?

 

 

Increase your order values?

A well-constructed ‘sliding scale’ encourages customers to add items to their order so they can reach the next level of reward.

 

Encourage regular repeat buying?

Not just one more time, but how about 3 more times, 6 more times, or even every month for a year?  The longer the scheme, the more of a habit the buying pattern will become, making you the ‘preferred’ supplier.

 

Bring you more customers?

Referral is one of the best ways to generate new customers, so how do you encourage customers to recommend you; and how do you thank them when they do?  Well structured, your referral scheme could even deliver more sales as well as extra customers too.

 

Improve sales force productivity?

There are plenty of options alongside the usual prizes and cash bonuses; perhaps extra holiday (paid or unpaid), flexible benefits, even childcare arrangements – what will your team truly value?  Remember to set clear, specific goals for them to achieve.

 

Galvanise your distributors into action?

What could they do for you?  Sell more of the same, sell additional products from your range, sell your products in more of their outlets (if they have multiples)?  Think cross-selling, up-selling and out selling the competition!

Whichever incentives you choose, the golden rules for good uptake and profitable results are to have appropriate rewards for your target audience; a structure which delivers the benefits you want; and rewards expenditure which only becomes due after you have made your extra sales.

 

 
 
Until next time, remember… it’s wise to get help with your incentives, because there are often unexpected pitfalls or consequences, and even the big boys get it wrong. You may not remember the Hoover ‘Flights to America’ debacle (early 1990s), but it cost the company millions, and resulted in lawsuits, huge reputational damage and the loss of its Royal Warrant. The European branch of the company never really recovered, and had to be sold off to a competitor. It’s pretty mind-boggling! You can read about it here  

 

Juicy Just for Fun

 

Just the thing for a rebellion against gloom and doom:
If you’re anywhere near Marlow, check out the Rebellion Beer Company – www.rebellionbeer.co.uk – if the name’s anything to go by, the beer should be good!
 
 

CHECK OUT OUR RELATED POSTS

More successful tactics for your post-pandemic marketing!

More successful tactics for your post-pandemic marketing!

Post-pandemic marketing… it’s about connecting and re-connectingIn a world which has experienced unprecedented upheaval, simply being responsive, understanding and considerate - giving excellent service and going that ‘extra mile’ - is helping businesses enhance their...

read more
Another 5 successful tactics for your post-pandemic marketing

Another 5 successful tactics for your post-pandemic marketing

Post-pandemic marketing… it’s not ALL online!Following last week’s blog about post-pandemic online marketing, this time we’re looking at the ‘offline’ tactics which are right for today’s business environment, but will also deliver longer term benefits too.With the...

read more
5 successful tactics for your post-pandemic marketing

5 successful tactics for your post-pandemic marketing

Post-pandemic marketing… with longer-term benefits too As we work our way out of lockdown and restrictions towards the ‘new norm’ (whatever that may be), we’re getting a lot of questions at Juicy about what’s best in terms of marketing. It’s important to make the most...

read more

Pin It on Pinterest

Share This