You may never have heard about an incentive marketing strategy, but certainly, you have participated in someway. Also known as Freebie Marketing, this marketing strategy motivates consumers with some type of reward. The reward varies greatly depending on thousands of variables but almost all product sales will be boosted with an incentive marketing strategy.
Coupons and rebates are a couple of the most recognized incentive marketing strategies but new and very imaginative strategies can be much more effective. The Internet has become a virtual playground for the incentive marketing strategy.
WWW Marketing Strategy
The Internet is constantly coming up with another new and innovative incentive marketing strategy. A Win-Win-Win strategy involves a big name corporation seeking continuous brand exposure through the Internet. They create an incentive marketing webpage to run a big-ticket merchandise sweepstakes give away. Consumers who buy their product gain ability to sign up for the chance to win free merchandise they might not otherwise consider purchasing. The major corporation wins at this strategy by continued brand exposure at little cost. They also gain untold numbers of new members visiting its site, translating into new future clients. And a few consumers walk away with a big-ticket prize. Everyone loves a good WWW incentive marketing strategy.
Advergame Marketing Strategy
A genuinely imaginative form of incentive marketing is the advergames strategy. An interactive advertisement is combined with an entertaining game of trivia or another of the many popular computer games. Players are entertained by the game while being exposed to an advertisement that eventually leads to a web site where they purchase the product. An incentive marketing strategy that participants eagerly engage in.
A Strategy for Selling for Authors
Another opportunistic way entrepreneurs can use the incentive marketing strategy is by creating a product suitable to be given away when a consumer makes a purchase. What if you have a great eBook about poker that entertainment poker sites could offer free to paying members? The entertainment site pays you $7.50 for each eBook they give away to a new member joining for $19.95 a month. The first month, 10,000 new members sign up, producing $75,000 in revenue for you and an additional $199,500 of monthly revenue for the web site. Again, a marketing strategy with many winners.
Another strategy is my example of the self-published author who wrote a book on Party Toasts (speeches). She contacted a sparkling wine company to buy her books in huge volume (she made HUGE money), distribute them to liquor stores across the country (at no charge to her) and advertise her book (again no charge to her). The wine company had a win because they put a display shelf together that said – Buy 2 bottles and get this book for free. Consumer won because they got a free book that was precisely targeted for them, maybe even something they needed at time of purchase – without going to a bookstore.
Look for a Target Market that Matches Yours.
Another highly profitable strategy would be combining animation and comic strip software. Bundle the two together and offer it to several businesses catering to pre-adolescent and young teenagers. This incentive software strategy will appeal to several different businesses. Maybe a summer camp will buy it to give to kids signing up for camp. Teen orientated websites can offer it as an incentive when new members sign up, and a local theme park can offer it to promote a comic strip themed special event. The possibilities is only limited by your imaginative marketing strategy. One product could have a thousand marketing strategy possibilities.
Article Written by Stefanie Hartman www.stefaniehartman.com
Photo credits: Microsoft Clipart
2012 © Stefanie Hartman Enterprises Inc. You may republish this article, if you keep the article intact as is and credit the authors name and website: “Stefanie Hartman” and website: www.stefaniehartman.com. Thank you.
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