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Targeting and Incentive Currency

How can one engage customers and what’s the most compelling incentive you can offer?

There are a wide variety of possibilities including the following as potential incentives to establish and build relationships:

Discount: Buy More (2 for 1) Coupons, Discount (50% off) Coupons, Cash Backs, Free/Expedited Shipping
Educate: Workshops, Webinars, Mini-Courses, Video & Audio Presentations
Events: Social events, Workshops, Guest Speaker Presentations
Fun and Entertainment: Competitions, Lucky Draws, Giveaways, Free Gifts
Information: How To Guidelines, Newsletters, eBooks, Articles, Brochures, White Papers, Community WhatsGood Pages
Memberships: Exclusive VIP Access, VIP Memberships, Secret Menus, Free Trial Memberships
News: Topical Press Releases
Reality: Case Studies, Success Stories
Referrals: Comments, Reviews, Free Consultations
Reviews: Video Feedback, Written Opinions, Audio Podcasts
Simplify: Articles that summarise or which include Infographics or Graphs, Checklists, etc.
Surveys: Interactive Quizzes, Polls and Forms
Trends: Top 10 Lists, What's Good Apps, Surveys and the results thereof

You need to draw on your understanding of your customers/clients. Only appealing offers drive shares, so select a valuable and compelling incentive specifically matched to your best customers.

More often than not the most compelling benefit will not be a financial discount.

Recognition and VIP status coupled with service benefits are normally highly desirable. Double-sided rewards that deliver equal benefits to both sender and receiver have been found more effective than single-sided rewards. User altruism and the will to improve their friend’s lives is a fundamental aspect of a compelling incentive.

The Webo LPM (Loyalty Programme) framework has a foundation of a Multi Layered Loyalty Programme. There are three loyalty status tiers that offer gated access to defined benefits. Level 1, Level 2 and Level 3 can be named and status can be awarded on the basis of points earned for purchases or for other defined reasons such as event particitation, etc. Points are awarded for a specified duration. The points system is simple and easily understood. In a professional environment the tiers would be used to segment clients into niche audiences. The Referral Programme to grow reputations through reviews and referrals through the sharing coupons completes the loop.