Incentives can be critical to getting people to respond to your marketing offer, and not every incentive will motivate every buyer. The two have to be properly matched.
Do you put as much thought into the incentive as you do into your list, your creative, and your message? Does the value of the incentive match how much the response is worth to you?
For many marketers, for example, an incentive is a discount or entry into a sweepstakes. But especially for higher value products, the incentives can become much more creative. When one company wanted to add more value-added resellers, for example (something in which even bringing on one more reseller could bring in millions in additional revenue), it offered a sweepstakes featuring a trip to the Caribbean. When another wanted to access high-level executives, it offered remote control cars personalized with the recipient’s name.
Just because your incentive has a high dollar value, however, doesn’t mean that it’s the right incentive for you. For example, you might not want to give away free iPods to a tech-savvy audience that most likely already has one — or three. Instead, you might want to offer something more unusual, such as a digital picture frame that attaches to a key ring.
Also keep in mind that an incentive doesn’t need to cost a lot to be highly motivating. One marketer used the “hook” during its Christmastime promotion of allowing respondents to help select the charity to receive its end-of-year donation. Others have given away free saplings to environmentally conscious prospects around Earth Day. The point is to match the incentive to your specific audience. One size doesn’t fit all.
Need some help with incentive ideas? Talk to us about getting the right match for your next campaign.