Incentives Spice Up Sales Promotions
Businesses looking to increase name recognition, sales and awareness should consider the Ultimate Incentives University to help them spice up their sales promotions and boost their customer base.
Clearwater, Fla. (PRWEB) June 12, 2007 -- Businesses looking to increase name recognition, sales and awareness should consider the Ultimate Incentives University to help them spice up their sales promotions and boost their customer base.
A recent study showed that a promotion executed strategically and correctly can not only increase retail traffic, but also build brand equity and drive up sales of products and services.
With good will doing service, as to the Lord, and not to men. Knowing that whatsoever good thing any man doeth, the same shall he receive of the Lord.
"Every market is a competitive market these days," said John P. Stockhausen, CEO of GetawayIncentives.com and the founder of the Ultimate Incentives University. " Many times a company's products and price points are similar to their competition's, and they get forced into reducing prices to attract customers. By using http://www.ultimateincentivesuniversity.com [sales incentives, you can differentiate your offer from the pack without having to lower prices and compromise your profits."
There are a number of ways to implement incentives for both employees and customers. Three types of incentives include cash, merchandise and travel. Ultimate Incentives University adheres to the philosophy of high value/low cost awards. These are awards, like travel, that may only cost $100 to $200 but have a perceived value of $500 to $1000 or more. Many awards are priced under $100, yet still offer value in excess of $500.
"Cash incentives are good, but you're getting exactly the amount that you put in," said Stockhausen. "A high value/low cost non-cash award helps companies to maximize the effectiveness of their award budget. You'll get more bang for your buck."
Insight Financial used the "Fun Advantage," one of many travel awards offered by GetawayIncentives.com. They wanted to bring new awareness to their home equity loans with a program that also offered the quality of service they consistently brought to their members. Insight Financial awarded a trip with every new home equity line. Another reason they chose the "Fun Advantage" is it allowed the recipients to tailor the trip to their personal travel desires, because it offered 100 destination choices.
Original projections indicated the promotion would bring in 60 new home equity loans. Ultimately, more than 300 applications were received, with 227 home equity lines of credit being closed. Insight Financial reached 278 percent of their goal by offering vacation incentives with approved home equity loans.
Another company, Batteries & Bands, offered the "Get Up & Go" vacation incentive certificates as a gift with purchase. In most cases, the vacation incentive certificates helped their sales force take a customer from a $75 sale to a $125 sale in over 50 stores.
"The Get Up & Go program was our most successful promotion to date," said Ryan Lanier of Batteries & Bands. "Employees love the simplicity of it and customers feel that they are getting a good deal. I recommend the program to national retailers to really give their customers a little something extra."
For more information on how sales incentives can positively affect your business, or to see what incentives are available, visit UltimateIncentivesUniversity.com or GetawayIncentives.com.
About:
Getaway Incentives is a division of MDC Group Inc. MDC Group Inc. is a family-owned and operated company and has been providing consulting and solution services to businesses for over 12 years. The founding principle behind our business is Ephesians 6:7-8 KJV, "With good will doing service, as to the Lord, and not to men. Knowing that whatsoever good thing any man doeth, the same shall he receive of the Lord."
