I trust that everyone partakes in some sort of ‘rewards’ marketing program. Marketing rewards programs have boomed as the economy has slowed to encourage growth and loyalty through repeat purchases.
Just this last weekend I took advantage of multiple marketing rewards programs at my local Rite-Aid, CVS and other retail establishments. I am also enrolled in a few credit card reward programs, and I usually return to the same restaurants and stores if they have a ‘stamp’ card for multiple purchases with a discount upon completion. Nowadays, reward based marketing programs are certainly tempting and appetizing to even the loftiest of spenders. They are even more rewarding to the businesses that offer them.
Marketing rewards programs enable your customers to feel included and appreciated. We all have felt warm fuzzy feeling of staring at a price and realizing that we are the ‘special’ consumers that get that discount, or that extra bonus gift just for continually buying a certain product or service repeatedly.
Personally, I encourage your own business to research different marketing options for rewards based loyalty programs. Marketing programs that are likely to encourage customer loyalty and they will create a buzz around your brand.
Here are the basics of marketing rewards programs:
1. Frequent Flyer – These programs offer discounts or freebies based on some system that counts how many times your customer has purchased from you. These marketing programs are great over time or in spurts to create frequency.
2. Bundle Buyer – Creating a buzz around rewarding ‘tier level’ and/or bundled purchases will encourage customers to buy larger amounts, or more services at once. These marketing programs really allow customers to improve their own marketing strategies by planning better and promoting your products more aggressively.
3. Just For You – These are clever marketing tactics that are fun and exciting for the consumer. Usually, these marketing programs create a stir around an exciting prize that only loyal customers get the opportunity to enter. They can include valuable marketing research in exchange for the opportunity to win a prize or incentive of some sort.
Create a marketing craze, offer thanks to your fans. Bringing creative marketing rewards programs to the forefront can deliver a profitable return on your investment through many different avenues.
Keeping track of these programs can be challenging, so we recommend asking a professional marketing company for assistance in creating and managing these marketing programs. However, after trying a couple different approaches, you will find the program that works for you!
Happy Marketing Wishes Always! Add+In Marketing