If you’re searching for a Purchase Incentive Company to help you incentivize customers to make more purchases, complete a survey, sign up for a mailing list etc., PromoGroup can help!
PromoGroup handles a variety of Consumer Promotion and Sales Incentive programs designed to increase consumer retail purchase for those manufacturers who offer supplemental promotional funds to their trade partners. Comprehensive services include: program development, administration, verification, rebate processing and payment, analysis and reporting of every customized Incentive Program.
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Purchase Incentive Programs
Browse through these examples of purchase incentive programs to get ideas about what might work best for your company. Many of them are good all year long and others are good for seasonal or holiday promotions.
- Free Promotional Items – Stop by the store or trade show booth and receive a free item. This could be something like USB storage devices, sunglasses, or anything that relates to your business.
- Price Reduction – Coupons or rebates for percentage off or dollar amounts as well as “boy one get one” type offers
- Free Access To Information – Offer valuable research and information for those who will give their contact information.
- Loyalty Programs – Frequent customer cards that have points or punch cards like buy 10 burritos and get the 11th free, insurance discounts, and frequent flier miles offered for years of consecutive customer loyalty
- Prizes & Sweepstakes – Have drawings for completing surveys with exciting industry related prizes.
- Free Sample – Offering free samples of products, services, or food items to raise brand awareness
- Time Of Purchase Options – A great closer for a lot of retail sales is a free item at the time of purchase. This can be something like free arrows with the purchase of a bow
- Bonus For Product Trial – An example of this would be a free oil change with after a test drive
- Options at time of purchase – buy an RV and get a choice of either a free generator or a free extended warranty
- Bonus With Purchase – Purchase a certain amount of product and get a freebie. This could be buy a larger bottle of perfume or cologne and get a free duffle bag
- Trade Up Programs – Bring in your old phone, car seat, tablet, and get a discount on a new one
- Free Upgrades With Purchase – Buy a vehicle and get free window tint or floor mats
Benefits Of Purchase Incentive Programs
Implementing a purchase incentive program has offers significant benefits to loyal buyers and retailers. Many businesses are using the “frequent-shopper” model to offer points to rewards or discounts which can accumulate with each and every purchase. Some companies choose to offer incentives to get customer cooperation. An example of this would be for paying for referrals to new clients or offering discounts for the same. These purchase incentive programs offer many benefits.
Advertising and marketing to get new customers is expensive. Once you have customers, keeping them loyal is critical. Businesses must design and implement marketing programs which introduce your service or product and offer instruction as they learn how to enjoy your product. While new customer acquisition costs do vary between industries replacing customers cost about 5 times as much as retaining established customers. It is just good business to keep the customers you’ve already got and having incentive programs that reward your customers goes a long way to help customer retention. An example of this is when your customers know that after the first purchase that the next will be at a discount it discourages them from looking elsewhere. They feel as if they have earned that discount and will remember it.
Many businesses are ramping up their customer incentive programs to encourage customers to share their contact information, personal data, and even purchase habits. Many grocery stores have implemented loyalty cards which track purchases made by individual people. Simply asking for this information would potentially upset a lot of customers. By using loyalty cards which give them the benefit of the discount retailers enjoy greater access to data in their region. This data helps offer customers the products they want by having a better understanding of consumer behavior.
Customers want to feel like they are valued, respected, and never feel like they are being exploited. By offering reward incentives for buying your services or products increases their satisfaction. Knowing what demographic to target is the key to developing the right purchase incentive program. Successful programs keep in mind the customer base to identify the most profitable makeup of customers. That information is then used to design the best incentive program approach that offers meaningful benefits to that group of consumers.
Many businesses include offers to help support charitable causes as incentives. One example would be that a dollar amount per item or percentage of earnings for a month will be donated to a particular charity. Consumers are passionate about charity causes and will do more business with the companies which support causes that matter to them. This translates into better loyalty and more sales. With enough volume of purchase from the promotion both the consumer and the charity win.
Need Help Launching Your Purchase Incentive Program
PromoGroup is here to help launch your Purchase Incentive Program. Give us a call today if you have questions about our services or are interested in starting your own purchase incentive program. Give the marketing and purchase incentive experts a call at 312-467-1300.