Why A Reward Program?

Good question.....there is an endless sea of marketing options in the business world today and the hardest decisions are which ones will best suit my business and most importantly which solutions will deliver on my objectives. Especially in the current economic climate it is critical to find a program which gives you a good ROI. Therefore the key question really is; what are your marketing objectives...

A reward program can fit many integrated marketing strategies, it can even become the core of these strategies. We find that a successful reward program can assist with a wide range of marketing objectives:

1. Increasing customer loyalty
2. Creating a USP in competitive markets
3. Reducing customer focus on price
4. Engaging new customers
5. Driving sales strategies in a more customised way
6. Building brand perceptions
7. Building positive word of mouth
8. Motivating sales staff with a new and exciting sales tool
9. Providing a medium in which you can reward preferred behaviours
10. Increasing cut-through in other marketing communications
11. Creating exit barriers

In tough economic times there is an increased expectation on your marketing dollar to work harder for you. We couldn’t agree more! The obvious questions get asked regarding your marketing activities and a lot of businesses focus on consolidation and selling more to their existing customer base. Lifetime value is an interesting concept. You have spent time and money to attract your existing customers, so why do so many business typically find themselves focussing more on acquiring new customers rather than focussing on those who they have already acquired? This is a key objective of a loyalty based rewards program. By all means don’t lose sight of lead generation and customer acquisition, but consider the growth your business could experience if you do both to their full potential!

Now our focus isn’t to try and convince you that a reward program can replace your total marketing strategy, but it is important to consider what activities in your marketing plan will give you the best results. Consider that a reward program built by Reward Marketing will reduce your administration time as we take care of all program enquiries and that the reward offering to your customers only costs you money if they are engaged. If the customer isn’t motivated by the program, if they don’t participate then you are not paying for the reward. How many of your marketing activities don’t cost you money unless the customer is engaged by them?

Think of a reward program like a gym membership; just because you have one doesn’t mean that you will see positive results. You keep the membership for a year and if you don’t see results then you cancel it and think of it as a bad investment. But imagine if you had a gym membership that could give you the results you want without the need for massive amounts of time and strenuous, complicated efforts. We are that gym! If your program doesn’t succeed neither do we. Our success comes from longevity and repeat business as our pricing structure doesn’t allow us to just set and forget……..if only you could find a gym to give you the same offer!

Want to find out how a custom built reward program can meet your needs? Click here to find out more