It still astounds me how so few people realise how effective using targeted incentives can be :
- They pay, if used wisely
- They tip the balance for customers who wouldn’t normally buy, so can be a cost effective way of getting new business.
Why do they work ?
1) They overcome laziness
2) They give an excuse for trying you
3) They over come fear – of being sold something the prospect doesn’t need or can’t afford.
Why to they pay ?
Because generally you get all your existing customers plus additonal new customers (between 15 – 25%) who you can convert into long term customers. If you’re not trying incentives – do!
For all these reasons they should be prominent, they should give a tangible value which is desirable. The more it’s worth the more replies you’ll get!
Look to try different incentives over time Try to link your incentive to a new product or service introduction to encourage take up, or reward your loyal customers.
The Golden Rule must be that your incentive adds value. It should be used appropriately and sparingly and with clear objectives in mind.
Thebestofbishopsstortford helps its business members define and promote incentive offers to help drive business and awareness of their goods and services. Look to try different incentives over time, they are hugely cost effective. They help to attract new customers, launch new products or services and reward loyal customers.
Member since: 10th July 2012
I've been running The Best of Bishop's Stortford since 2010 and I'm passionate about supporting all things local. In particular, we work hard to showcase the best local businesses who give the area it's...