How The Ultimate Insiders Use Incentive Programs To Drive Your Competitors Crazy!

 

 

Does your business (and or) service currently use any type of incentive programs to reward and or entice new or repeat customers?

And or clients or reward your extremely valuable employees/associates?

If not you really should, because maybe you haven’t noticed, but incentive based marketing can be extremely  lucrative.

For example, you can allocate a certain amount of money for traditional advertising methods and or  mediums, like local cable TV, radio and or newspaper ads etc.

Or you can consistently get far more marketing bang for your buck, simply by offering your best customers and or clients or employees/associates reasons (ethical bribes) for responding a certain way.

Entrepreneur any cash starved small business owner and or service provider can throw, (read that as) waste tons of money on outrageously expensive and mildly successful ads.

Or you can consistently take your customer/client retention strategies to whole new levels, by creatively greasing the wheels as it were.

The Right Incentive Based Programs Can And Will Make All The Difference!

For ex: let’s take a local (fairly upscale) type of restaurant. Think about what happens after the customers have had a satisfactory meal. That’s right, they get their check, pay it and leave.Right?

And every time they patronize the restaurant, the same scenario is pretty much played out over and over again. Now, think about the restaurants that have valet parking.

And let’s say you just ate at one of these really nice upscale local restaurants. The valet retrieves your car and much to your pleasant surprise,  (you find) on either the mirror of your car or left in one of the front seats, a special extremely time sensitive new customer only VIP discount coupon from either a local florist, jeweler and or appliance retailer.

For this particular example, let’s go with the local jeweler. They approach the owner(s) of the restaurant with a cash (and or) joint venture offer to be the exclusive advertiser/sponsor of the restaurants exit strategy promotional rights.

Often Times Some Of Your Very Best Rewards Program Absolutely Wow Your Existing Customers And Or Clients!

First off, take a look at the math: the jeweler (or company and or service X) is more than willing, and financially able to offer the restaurant owner $2,500 dollars cash per month, or X amount of upfront dollars.

So they can have exclusive rights to market to the restaurants customers, by strategically placing their extremely time sensitive new customer only VIP discount coupons on either their car seats and or taping them to their mirror.

Here’s the other thing though, what if another local entrepreneur – such as a local appliance retailer- wants that same exclusive access to the restaurant owners exit traffic?

And they’re willing to pay more than $2,500 dollars a month, ( or X) in order to do so? (Is that not a totally interesting and real possibility? 😀 )

Which probably means, the restaurant or company X’s exclusive monthly exit strategy sponsor fee just went up! Right?

Opportunity Breeds Opportunity!

Just think of this marketing possibility the same way you would as an online ezine newsletter publisher considering two separate cash bids for solo ads to their readership.

One potential advertiser is willing to pay more than the current bid of $2,500 dollars per month or X. In this case, the savvy jeweler is initially willing to pay $2,500 dollars for exclusive monthly access.

But now the local appliance retailer says that same privilege is worth $3,000 dollars per month or something higher than the current bid. 😀

For now, let’s stick with the jewelers $2,500 dollar a month figure. In part two we’ll get a little more creative and involved. Okay?

Consistently Building Customer Loyalty Is Definitely Worth Your Time And Effort!

Anyway, the restaurant owner can now take part of their $2,500 dollars in cash, and let’s say a couple buys a $175 steak (or lobster) dinner and a $150 dollar bottle of champagne! Hey they’re celebrating.  😀

The savvy restaurateur takes $100 dollars off their stake dinner! Say what?  😀

And $50 (or X number of dollars) off their champagne bill as well! Do you think this couple or individual will any have trouble doing one or three of the following things!

A.) Returning to restaurant more often! 😎 (You got that right!)

B.) Constantly referring the restaurant to friends, family and colleagues etc! (What’s that one activity potentially worth alone?)

Especially if they come from the top level management corporate world! And the restaurant owner(s) are savvy enough to implement this particular marketing tactic at least once per week!

C.) Get even more active on social media.Right?

Can you see how and why some creative incentive programs just might be the thing to improve your bottom line asap? For literally pennies on the dollar.

Please list at least two simple spin off concepts (in the comments section below) that you can apply to your business, product or service in the next 30 days or less!

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