New Research: Incentivized Engagement Report
Southfield, Michigan — PrizeLogic, the largest independent incentivized engagement company whose clients include PepsiCo, MillerCoors and Samsung released the results of its latest research study, “Incentivized Engagement Report: How Brands Can Leverage Incentives to Motivate Behavior Across the Customer Journey”.
The report, which examines the role incentives play in relationship building and engagement efforts across various forms of marketing, reveals the importance incentives such as loyalty programs, rebates, sweepstakes and coupons play in motivating consumer behavior, how consumers are most likely to hear about incentives and how incentives impact purchase decisions.
The research demonstrates that brands that offer incentives are likely to see higher instances of customer interaction. For example, 81% of consumers are more likely to engage with a brand if it offers an incentive. Findings illustrate how brands must take a methodical approach to motivating behavior by strategically applying specific types of incentives based on marketing objectives and target consumer demographics.
“The marketing landscape has never been more competitive, and today’s brands need to leverage incentive strategies to break through the noise and reach consumers that matter most to their business,” says Matthew Kates, CMO of PrizeLogic. “By trading value to get value, incentive-based programs deepen and expand relationships with mutual benefits for both the brand and the consumer. Marketers can use these insights to inform the tactics, channels and budget allocations of their marketing strategies.”
Highlights of Incentivized Engagement Report: How Brands Can Leverage Incentives to Motivate Behavior Across the Customer Journey
- Acquisition: 43% of consumers would opt-in to future communications as part of a sweepstakes
- Engagement: 88% of high-income consumers ($120K+) are more likely to interact with brands that offer incentives
- Sales: 60% of consumers have made a first-time purchase because of a rebate
- Loyalty: 61% of consumers have switched brands because of better incentives (like loyalty points or rebates)
- Advocacy: 42% of millennials would recommend a brand to friends and family as part of a sweepstakes
- Insight: 72% of consumers would share personal information to participate in a sweepstakes or loyalty program
Download the Incentivized Engagement Report here.