Selling What Sells: Incentive Marketing Insight
Have you ever gone across a “promo” in the supermarket, where a product being sold includes another free product when you buy it? Many consumer goods and services often use this kind of sales and marketing tactic. If you’re not familiar with this, this is called incentive marketing. With this strategy, the consumers are offered particular “rewards” when they buy particular goods or services. The main objective of this is to urge the customers to buy an item that’s useful to them, while getting an incentive at the same time.
Many costumers find themselves attracted to this marketing tactic, especially if they always keep an eye out for a bargain. For them, it’s wonderful to buy the product at that given time because it comes with a free item. They don’t mind that it goes against their shopping schedule or their budget. They also think that they will buy it later anyway.
In the process, the sales person is actually the incentive program’s secondary target, since the incentive waiting for the sales person if and when the sales person breaches the quota is what motivates him or her to motivate other people in exchange for incentives or gifts.
Incentive marketing is becoming widespread. There are even reputable institutions that aim to advance the interests of this marketing strategy. One example is the Incentive Marketing Association or IMA. This group is focused on helping people understand the good points of incentive marketing, and how they play an important role in the upward movement of a business, especially in the trade landscape. Groups like the IMA are also very credible and helpful sources of information especially in business development and education.
These groups also help partner companies as well as individuals in getting in touch with other companies affiliated with incentive marketing groups, like marketing, performance improvement and travel specialist companies, through an ever-growing contact network.
Filed under: Marketing