Incentive marketing can be a powerful tool for companies. But what exactly is it?

Incentive marketing is an effective tactic used by companies everywhere. The Business Dictionary defines it as:

Use of motivational devices such as competitions, games, premiums, special pricing, to promote the sale of a merchandise or service."

If this takes the form of a customer loyalty program or a one-off promotion, businesses put out special offers to incentivise customers to purchase their products. In a world where consumers have more choices than ever, incentive marketing helps businesses grab the attention of customers with special deals or opportunities.

Be smart when you craft your incentives. It's easy to throw free stuff at people but it's not the smartest approach to rewards. You should always link back your incentives to your business.

What do you need to know?

Incentives should always relate to your offerings

Incentives should attempt to answer big pain points

Incentives should be simple

While the process behind crafting your incentives may be complicated, your audience message shouldn't be.