An "incentive" is a useful technique to motivate people to perform an action, such as making a purchase, in order to obtain a particular and very advantageous condition in return.
It is a well-designed system for convincing customers and prospects to take a certain action.
Below is a list of the main forms of incentives.
The main forms of incentive
Discount
A discount is a type of incentive that motivates people to buy at a lower price than they normally charge.
Be careful, we are all able to tick a price, but if we expect to increase sales we should only offer a discount on the condition that the customer takes the action within a certain limited period of time.
Loyalty programs
Points collection systems are a great way to incentivize customers to increase the frequency of purchase.
Free samples
The sample itself is the incentive that allows you to test a product and motivate the purchase of the same product offered as a sample.
Bonus product after taking a product trial
We give away a bonus product as an incentive and in return we ask the potential customer to try our product
Bonus product with purchase
We give away a bonus product that is related to the purchase of our products
Desired bonus product at the time of purchase
We give away a bonus product of the customer's choice with the purchase of our products (buy a camper and you can choose between a free generator or a free extended warranty)
Bonus service with purchase
Free transport service with the purchase of a certain quantity of product, used to increase the average value of the transaction.
Scrapping Programs
It's the classic "bring your old car and get a discount on a new car"
Prize competitions
Complete our survey and enter our sweepstakes
Lead Magnet and Freebie
You receive an e-book, video course, etc. in exchange for your contact information
Gadget
Stop by our trade fair booth and we will give you a free smartphone gadget
The advice is to test different incentives in different ways to find out what works best.
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Advantages
Offering incentives allows you both to acquire new customers faster, and to stand out from your competition that does not offer particular incentives and unmissable purchase conditions.
Keep in mind that a well-designed and executed incentive program can produce extraordinary results to boost sales.
