Incentive Marketing
Everyone likes to be rewarded, especially for something they were going to do anyway. When we receive a physical (or digital) reward, our brains give us a chemical reward. We like rewards because it’s in our DNA. That’s what makes incentive marketing such an effective strategy.
Incentive marketing is the use of motivational devices to promote the sale of merchandise or services. Motivational devices are an efficient way to characterize the many stimulating forms that an incentive strategy can take. Contests, rewards programs and games all fit the description.
It’s a necessary and valuable strategy because it engages a segment of consumers that may not otherwise consider your organization’s products or services. But this doesn’t necessarily mean you have to pay people to interact with your business.
Non-monetary rewards, peer recognition and discounts are all effective incentives. When the performance piece of the equation is enjoyable on its own terms, such as a game or contest, the strategy really shines.
