Identifying and understanding the motivation behind incentivized marketing is an important step in harnessing its potential. Sometimes, the motivation of a business to do something that would otherwise be unlikely is as simple as a better profit margin. However, other times, the motivation is more complex. Identifying what motivates your company or brand can go a long way towards defining an incentive marketing company system that is well-liked and will make sense to all involved.
The motivation that motivates companies to do something they might otherwise deem uneconomical is often simply profitability. Incentive marketing can help those who are operating in businesses in which profitability is an absolute necessity and will therefore embrace such programs with gusto. A incentive marketing company whose products or services are not going to sell in the marketplace will try anything to gain a competitive advantage, and incentive marketing programs are no exception.
Some companies seek to drive up the company's reputation. The "buyer" in an incentive program that drives up the buyer's or client's perception of quality, reliability, or performance can be just what the doctor ordered to revive a sinking ship. By meeting the standards that the buyer would expect from a business, the business's reputation will rise in the eyes of consumers.
Not every incentive program works for every company. For those that do work, they offer many benefits, and all it takes is a few days of study to find out if it will work for your business. Once the motivation is identified, the fun begins!
As an incentive, there are plenty of offerings. Some will require you to perform some kind of action (typically, your part will be in writing) that is not only the right thing to do, but has been requested by someone else who has volunteered to perform this action. Others will offer a cash prize. Many will require no cash at all. The rest of the process of doing something will be in the hands of the chosen volunteer, who will then be paid for his or her efforts.
For the most part, the reason for offering money and prizes has to do with persuasion. Make the most of this fact by presenting a motivating message that is meant to inspire. Of course, the message should be one that can be easily understood and responded to. If it is, the recipient will think he or she is doing something good.
The "right information" is important to making the whole incentive marketing process a success. It needs to be something that the recipient understands, has heard of, or has been exposed to.
The "right information" can come in many forms. One idea is to put together a video presentation that gives a brief overview of what the company offers. More traditional approaches include putting together written materials that are easy to understand. Some companies have chosen to offer two different presentations, one through video and one through written materials.
The variety of incentives varies depending on the nature of the organization and how they want to use incentives. To determine what will work best for your company, consider the factors that will make it successful, like product or service quality, the level of commitment, customer service, the behavior of the user, and the nature of the company. Then, consider what would make it possible for the people who will be getting involved to believe that they are making a difference.
No matter what form of motivation is used, the message of business improvement must be consistent. Motivation that is inconsistent will fall flat. The business needs to know what it is trying to accomplish, what it wants from the people doing the motivating, and what kind of outcome it expects.
Business owners need to become familiar with their own motivation when they are thinking about doing any form of incentivized marketing. They need to recognize when their motivation is strong and when it is weak. They also need to recognize the areas in which they need improvement, even if they have not yet identified the problem area. and try to change those areas in order to boost their motivation levels.
Think about this: if you go into a McDonald's restaurant and ask for a dollar amount, you will get a dollar amount. when you decide to do a project for this company. You will get a value proposition when you agree to do a project for the city government and help them accomplish their goals.