How Do You Develop A Rewards Program?
Nobody’s quite sure when the words “rewards” and “program” were initially paired, but you’d be hard-pressed to find someone living in today’s society who hasn’t subscribed or ascribed to this type of marketing. Frequent buyer plans, bonus points for purchases and the awarding of targeted premiums are among the popular marketing tactics that have proven to lift response when attached to a long-range plan for product or service brand building. If you’ve decided that your constituency could use a powerful incentive—to buy more, perform better, stay loyal or jump ship from a competitor—use this article as a jumping off point to build your bottom line and customer base. Figure out what behavior you want to reward. Incentive programs don’t bestow rewards on people who believe they deserve to be stroked; you’re seeking to make a behavior change in their buying habits, the frequency of their contact with you or you’re reinforcing their loyalty. Once you understand the specific behavior you
