Sometimes a popular chicken franchise spends more on retaining customers than an automobile dealer does. This was suggested by Mike Gorun, president of MediaTrac, the largest provider of customer retention and loyalty programs for the automotive and home builder markets. What is suggested by Mike simply implies that regardless of whether you are a small or large company, it is equally important to focus on retaining customers. One of the most effective methods to retain customers is organizing incentive programs for customers. There are several marketing companies that can help in your endeavors to retain customers by suggesting innovative reward programs and even catering customized promotional products.
However, apart from choosing the right marketing solution and promotional items provider, a company should take note of a few ideas to implement in their incentive program for customers to ensure they are a guaranteed hit.
Top 6 Ideas to Consider While Implementing Incentive Programs for Customers
Below are popular incentive ideas that work well in retaining customers. You can consider implementing these ideas when designing incentive programs for customers.
- Free delivery
Most people like to surprise their friends, family and other loved ones to see the happy smile on their faces and thereby strengthen relationships. Similarly, you can send rewards depending on the incentive program for customers to their postal addresses and create loyal relationships.Free delivery in itself is a great promotional giveaway today. A lot of people resist shopping online because they detest paying an extra amount for product delivery. They would rather drive down to the store to buy the product on their own terms. However, you can be viewed positively by your prospects as well as current customer base by offering delivery services free of charge to them.
- Discount on the 5th or 10th purchase
New school shoes are something that a child requires every year or even more often. A lot of school shoe sellers therefore have a chance to gain maximum leverage out of this recurring need by planning the reward programs for customer wisely. Several shoe companies either offer huge discounts on the 5th pair of shoes that parents buy for their child or give away the 10th pair for free. Happy parents naturally recommend such shoe companies to their friends, family and other people, and this is how the company keeps on earning huge profits for years.
- Special rewards for repeat or loyal customers
Companies can increase their loyal customer base by offering special or even customized promotional products especially to repeat customers. If you have a website, you can promote this incentive idea on the homepage, at a place where it is visible. However, consult a marketing company that offers promotional rewards and incentives to find out what the most popular gifts are among customers of a particular company.
You can also send seasonal and holiday gifts to your repeat customers to strengthen their loyalty. Do not forget to utilize occasions such as Christmas, New Year, Hanukkah and Thanksgiving for promotional giveaways.
- Keep an eye on the competition
A good incentive program for customers is one that outruns its competition in terms of popularity. Make sure you study the market well and find out the common incentive ideas that your competition is using. After finding out the strategies others are using, you can come up with a better plan that is more relevant for the customer.
- Understand what customers like
Large organizations that have access to and budget for sophisticated technology can make efforts to track their customers’ buying habits. Based on their shopping tendencies, you can place orders for either customized promotional products or the customers’ most preferred products.
Make sure that you do not rely upon your own intuitions while choosing the promotional products for customers. Hire a professional marketing company that is able to guide you well while designing an incentive program for customers.