How to Use Incentive Marketing to Convert 90% of Your Prospects into Buyers
Try this easy technique and watch your conversion rate (translated SALES) shoot through the roof!
What if you could adopt a marketing technique that would make 200-300% more of your prospects join or buy what you had to offer?
Would you be interested in such a strategy?
In the past week or so I've come across two websites that used this technique. Now that I think about how powerful it is, I'm shocked that more business owners don't take part in it!
It's what I like to call Incentive Marketing. Basically, it involves giving away something that your prospects absolutely can't resist. And if they can, you'd almost have to think something's wrong with them.
The best part of is that the insanely generous offer -- the incentive -- is completely, 100%, no-strings-attached free. And that's exactly why you'll double or triple your response rate with little effort on your part.
How can you possibly profit off of such a business? you might ask. Wouldn't you be losing money?
It's just the opposite. You end up with an enormous profit, and your customers end up so satisfied that they'll lament they didn't find you sooner.
This is how it works.
You offer an extremely valuable INCENTIVE. This could be anything in the world that relates to your target market. When they buy your product or join your program, they get the "incentive" for free.
Here's the twist. You don't promote your program -- you only promote the incentive!
You see, while the benefits they get from purchasing your product or service should be wonderful, it's just the icing on the cake. The incentive IS the cake!
An example I saw recently was from a company who, for $30 a month, allows you to give away a pair of $1600, no-catch plane tickets for anywhere in the world to anyone who buys from you. (The cost-per-month is raised depending on how many you'll need).
Now let's pretend you are trying to sell CD's online. You'd have a hard time competing with CDnow.com, wouldn't you? But let's say you threw in a pair of plane tickets with every CD purchase. My vote is ten to none that you'd eventually crush the business of CDnow.com like you never thought possible.
The product in this case is the CD -- or, the icing. The incentive is the plane tickets -- which is the cake.
If you were selling these CD's, would you heavily promote the fact that people could buy CD's from you? Or that with each CD purchase, they'd recieve a pair of $1600 plane tickets for free?
This incentive would potentially convert 90% of prospects into buyers. Why buy from CDnow.com if all they got was a CD, when they could buy from you and get a pair of plane tickets?
A second program I came across -- and joined -- used the incentive of a free laptop to join their program for $29.
If you're like me, your first thought is that it's a scam. However, the system is so detailed that it's almost a science.
You join for $29, and wait your turn to get to the top of the "ladder." When you're at the top, once 77 more people join the program, you recieve your 100% free laptop with no strings attached and no shipping cost. To make sense of this almost unrealistic scenario, you just have to do the math.
If it's $29 to join, and a free laptop is sent out each time 77 people join, the company makes a total of $2233. Since they no doubt get their laptops (which are good quality) on wholesale prices, they are making upwards up $1000 for every 77 members. And because it's such a phenomenal deal, word is going to spread like wildfire about this company, generating quick and easy profits.
Even better, this company offers an entire "member area" that offers tons of great software, marketing info, and services for free. Keep in mind, this is just the icing. They were smart enough to make sure it was really good.
(By the way, you can get your own free laptop at http://www.scamfreebiz.com/go/freelaptop.htm )
Think about how you could apply this to your business and explode your profits.
Advertising will be a snap, because you'll be promoting your free incentive instead of "just another this-or-that."
The viral marketing (word-of-mouth) effect will be phenomenal as more customers "go home happy" and tell all of their friends about it.
You'll completely blast your competitors out of the water because everyone will be running to YOU for their product or service needs! (Remember the CDnow.com example.)
If you're an affiliate of a company who uses Incentive Marketing, imagine how much easier it will be to promote their phenomenal free offer than settling for things like "use this company or product to grow your home business."
Incentive Marketing is powerful! And by figuring out a way to incorporate it into your business, you might just be amazed at the 90% prospect conversion rate that will, after your initial efforts, occur exponentially and almost effortlessly.
About the Author
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Written By: Rebekah Nahai