Consumer Promotions and Rewards
You appreciate your customers, and you want them to know their support doesn’t go unnoticed. Rewards go a long way in giving back to them, but so many variations of incentives have been done before that you're on the lookout for something new and exciting. We've got you covered.
Here are three ways you can step up your customer rewards.
1. Offer rewards in tiers
What’s better than rewards? Rewards where everyone gets a piece of the pie.
Tiered rewards help make sure everyone involved walks away satisfied. Sound interesting? We think so too, and this is how it works:
Let’s say you want to give away rewards to thousands of lucky customers, but you want to do something special. You can offer rewards that lessen in value the longer it takes you to claim them. The first lucky winner would get your best reward; in this case, your brand is giving away a $500 gift card consumers can spend on any piece of apparel. The second winner would receive your second best reward, a gift card of a smaller amount, and the remaining participants would receive corresponding rewards.
Not only does offering tiered rewards help you stand out from the crowd, but it’s also a great way to leverage psychology in your marketing campaigns! As with any upcoming campaign that offers something of value to consumers, this approach to customer rewards will result in high anticipation that motivates action and engagement. The “first come, first served” approach to your promotion also utilizes promotional scarcity, heightening the value of the rewards being presented.
2. Pair rewards with competition
On your mark, get set, go!
We all know the rush of a really good competition. Your adrenaline is pumping, the stakes are high, and the thought of coming out on top is so close you can almost taste it.
What would you say if we told you the glitz and glamour of a well-thought-out competition can be replicated in your marketing campaigns? Let us explain.
The opportunities to create competitions in your marketing campaigns are endless. Those tiered rewards we mentioned earlier? A form of competition. So is having consumers compete against themselves or others to earn a reward in the first place. Here are some typical formats for pairing incentives with competition:
- Limit the amount of time/chances customers have to earn a reward
- Create competitions between customers
- Create urgency by promoting rewards that can only be achieved during a certain period
If you’re interested in getting more impressions on your email marketing campaigns, offer rewards to the first X amount of people who click on a specific email the fastest. Give a discount to anyone who signs up for loyalty over the next 12 hours.
On top of motivating consumers, offering competition in these ways can also create a positive connection between your brand and its audience — and that's according to psychology.
3. Get personalized with the rewards you offer
Your customers have been offered a lot of different rewards over the course of their customer journey, and it’s safe to assume that they’ve probably run into the same sorts of rewards multiple times from various companies.
The rewards that work best are the ones that are most relevant to each individual customer. Offer exclusive rewards on products your customers have expressed interest in, or products similar to those they've expressed interest in, to maximize their impact.
Standard customer rewards have helped brands score major points with consumers for years, but the real results come from brands who build on the experiences that customers love and make them better. The tips above are here to help you step up your customer rewards so you can do just that.
