Rewards for Your Business Promotion

Rewards such as promo discounts or tokens are simply for the purpose of making customers patronize your product and be loyal to it. It is easy to come up with a list of potential rewards to give to customers, but the challenging part is knowing which ones will work for your customers and select the most effective.

Retailing businesses are the ones which often use rewards to gain customer loyalty and promote their products. Usually, retailers would give discounts during a promotional period called “sale”. Naturally, customers would love those sale periods. Who doesn’t like products on sale? Nobody. But it is important to know that this reward scheme pleases customers on specific times only. Clearly, sale periods lack the continuous effect of delighting the customer and making them loyal. And so, there’s the other scheme called raffles. Many would say that, the bigger the prize at stake, the more customers will be attracted and pleased by it. But just like the sale periods, raffles only have a momentarily effect and can not guarantee customers’ loyalty in the long run. So how do you make rewards work?

It is very important that a reward should have a continuous and infectious effect on the customer. That’s to say, besides gaining the loyalty of the customer, a reward should make him endorse your product to other people as well. An example of this would be a coffee shop. To reward a coffee aficionado, you should give him the very thing he likes – coffee. But the manner of giving him a coffee should not be like sale periods that are pre-announced and only at specific times. What can be done to improve this reward scheme is to have a daily reward challenge. Every business day the coffee shop will give away one of the products they sell. And then a criteria or challenge like, “The 369th customer for the day takes home the reward for the day.” This reward scheme would continuously give the customer the feeling of surprise and being lucky. Or if they don’t get pick for the day, it will give them the feeling of looking forward to the next day thinking it they might get lucky already. And on the side of business owner, this reward scheme is a good opportunity to make his customers know all of his products and have a free try of them. This is especially good for promoting new products and effectively gaining more loyal customers in the future.