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Incentive marketing is a sales and marketing strategy in which incentives and rewards are guaranteed in exchange for purchase or usage of goods or services. The target of this is initially, customers, as sales representatives will entice customers with the promise of freebies in exchange for purchasing something that is also useful for the individual. What the sales person does, and generally how incentive marketing works, is to convince the individual that there is no better way to purchase something that is a necessity to you than by buying it and, in the process, being awarded with incentives.

Incentive marketing is a very popular strategy used today, and many consumers actually become attracted to this. For them, buying the product during that particular time is practical, since it comes with a free item. The consumers became too focused on the freebies, that they realized they didn’t follow their ideal shopping schedule.

The other target of the incentive marketing process is the sales person. Usually incentive marketing products equal to a particular sales quota. If the sales person manages to reach that quota, he or she will get incentives as well. Because of the incentive waiting, he or she becomes more motivated to keep selling the products.

Incentive marketing is becoming widespread. There are even reputable institutions that aim to advance the interests of this marketing strategy. One example is the Incentive Marketing Association or IMA. This group is focused on helping people understand the good points of incentive marketing, and how they play an important role in the upward movement of a business, especially in the trade landscape. Groups like the IMA are also very credible and helpful sources of information especially in business development and education.

Incentive marketing groups also help individuals be in touch with one another, as well as let them stay in touch with other companies that also work towards the same marketing goals. These include travel-specialist, marketing and performance improvement companies. They create a contact network that continues to grow.

This entry was posted on Monday, August 25th, 2008 at 6:56 am and is filed under Marketing.You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.