Staying ahead means understanding your customers deeply and guiding them through a personalised journey. We have discussed the importance of educating your customers and effectively showcasing your offerings. Now, it is time to delve into the third key area of success: incentivising. 

When customers engage with your brand, they are inherently asking, “What’s in it for me?” This simple question drives much of their decision-making process. To maintain their attention and drive action, you need to provide compelling answers. 

Changing consumer behaviour is no small feat. People are creatures of habit and convincing them to adopt new behaviours can be a challenge. This is where incentives come into play, both before and after the purchase. 

Let us start with the “pre-purchase” phase. Consider a scenario where a customer is browsing your online store. They have shown interest in several items but have not committed to a purchase. This is the moment to entice them with incentives. For instance, offer them a personalised discount on one of the items they have been eyeing. This not only provides an immediate benefit but also acts as an incentive for them to take that final step and make the purchase. 

Now, let us shift to the “post-purchase” phase. Your customer has made a purchase; they have chosen your brand. This is an excellent opportunity to reinforce their decision and encourage loyalty. Here is where you can offer incentives like loyalty points, exclusive access to events, or early access to sales. These incentives make customers feel valued and keep them coming back. 

But incentives do not stop there. You can use them to motivate various actions throughout the customer journey. Here are some additional ways to leverage incentives: 

Referral Programmes: Encourage customers to refer friends and family by offering rewards for successful referrals. This not only drives new business but also strengthens customer relationships. 

Reviews and Feedback: Incentivise customers to leave reviews and provide feedback. This valuable information helps you improve your offerings, and incentives show that you appreciate their input. 

Social Media Engagement: Reward customers for engaging with your brand on social media. Whether it is liking, sharing, or tagging your products, these interactions help expand your reach. 

Subscription Renewals: If you offer subscription services, provide incentives for customers to renew their subscriptions. It is a win-win – they get a benefit, and you secure recurring revenue. 

Cross-Selling and Upselling: When customers add items to their basket online for instance, suggest complementary products with incentives like bundle discounts or free shipping for orders over a certain amount. 

Event Participation: If you host events, offer incentives for attendance. This could be exclusive merchandise, early access, or discounts on event tickets. 

Incentives are a powerful tool for retailers because they tap into the psychology of motivation. By answering the “What’s in it for me” question, you are more likely to drive the actions and behaviours that benefit both your customers and your business.