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.
Because incentive marketing is becoming very popular nowadays, numerous institutions all over the world are working to make this strategy more effective. They work to advance the interests of this strategy. One example of a group that works for this marketing is the IMA or the Incentive Marketing Association. They focus on spreading knowledge to the people regarding the various positive aspects of incentive marketing, and what important role it plays for a business’ success in the trade landscape. Groups like IMA are also a great source of information that’s useful 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.