Rewards programs have become an integral part of the marketing plans of many enterprises especially small businesses as it helps to not only attract new customers but also retain existing ones. Of course, creating a strong customer value proposition is also at the center of any rewards programs. A rewards programs could be simply built in-house by an enterprise to save costs but then if there is a budget for it, that function could be outsourced to a professional firm specializing in that field. The advantage of outsourcing the design and execution of your rewards program to a professional is the wealth of experience and long list of collaborators that the professional would have built over time. These would include third party companies and major merchants. The following advantages could accrue to a small business by virtue of such collaborative rewards programs:
i. Creation of a series of rewards that would have appeal cutting across the customer base
ii. In conjunction with partners, design a partnership plan that would have a long-term and strategic value.
iii. Infusion of the rewards program with innovative items such as experiential opportunities and local rewards.
iv. Reduction of offsetting of program costs via marketing activities that are co-funded, marketing exposure, co-branded partnerships as well as merchant funded rewards.
The fact remains however that reward programs, no matter how well designed, enticing and beneficial, still needs to be ‘sold’ to customers. There are therefore various incentives that can be used to encourage customers to buy into and participate in the reward program. Some of these incentives include: (more…)
The term social media is fast dominating the marketing profession and it has become virtually impossible to discuss the social media without talking about Twitter. First of all, the term social media seems to have many definitions but then we can define it as a medium in which the audience is the creators of its content. This is as opposed to the traditional media where the audience just consumes the content with minimal input.
Twitter can further be defined as a social medium which provides a message routing vehicle for the real time exchange of messages via various devices. One of the most outstanding features of Twitter is that it generates what sociologists have referred to as ‘co presence’ as a result of giving people the opportunity to know what their ‘friends’ are doing, thinking, reading and planning to do in an immediate sense. (more…)
Twitter, which has grown to become one of the most popular outlets on the social media scene today, is actually a platform which allows its users to exchange messages in real-time, that is instantaneously. Its immediacy as well as its compatibility with various devices to post, view and exchange messages is one of Twitter’s greatest selling points. It is therefore not strange that it has grown phenomenally and is still growing today as a means of exchanging personal and business information. When Twitter commenced its services, it was designed to allow people to see what others were doing so it always asked the question “what are you doing?”. This seemingly simple way of seeing and knowing what others were doing created a kind of bond or what was referred to by sociologists as ‘co-presence’. Twitter has graduated since then from just allowing people to know what others were doing to giving others insight into what another person is thinking, reading or involved in. In other words, Twitter has become a major part of the attention economy.
Marketing on Twitter is quite unique in the sense that its structure permits a message post not exceeding 140 characters. This does not seem like much but then a lot can be achieved. Some of the strategies which can be used in marketing on Twitter include: (more…)