As online shopping continues to make the consumer marketplace broader than ever, incentive-based programs remain an effective way to gain, nurture and retain customers. Not convinced? Consider these eye-opening statistics:<\/p>\n
\u2022 According to a January 2016 report in Chief Marketer, the average North American shopper is a member of 13 loyalty and promotional programs.<\/p>\n
\u2022 Jupiter Research has found that 80 percent of Internet users enter a sweepstakes at least once a year.<\/p>\n
Planning Your Promotional and Loyalty Programs<\/strong><\/p>\n Promotional programs should be planned carefully to get the most bang for your buck. Here are three factors that play a crucial role in the success of any rebates, contests or loyalty rewards.<\/p>\n 1. Big Data<\/strong>
\nWhile the term may not sound particularly sophisticated, it gets right to the point: “Big Data” refers to the massive sets of information that can be captured and analyzed to uncover consumer habits, patterns and trends. The amounts of available data are increasing exponentially, so the key is getting your arms around it up-front to keep it organized and consolidated in a way that allows for thorough and accurate analysis to allow you to have actionable information for your promotion.<\/p>\n