The goal of every business big or small is to grow in the months and years ahead. In order for this to happen, you have to give credit where it is due and if you are involved in viral marketing, one way of doing it is offering those who work for you and even customers incentives.
But first, what is viral marketing? This type of marketing enables you to have a targeted and personalized communication with your existing and potential customers capitalizing on relationships of trust. This means that he or she is satisfied with a particular product in the past otherwise, they won't even consider using it or recommending it to others.
Where do incentives come in the picture? Well, if that person is happy with the product, they can help others enjoy the benefits of the product and at the same time be rewarded for it. Examples of this could be in the form of cash, credit and rebates. There are different ways of implementing this strategy. One example could be rewarding someone who has been able to make 10 or more successful referrals. Another is by offering the incentive as a gift for selling a number of items.
Such a strategy will work even better during the lean months because this can also work when you have promotional offers. When you decide to sell or promote your products online, you can offer rebates to those who decide to advertise by offering it at lower costs.
For online visitors who shop from your site frequently, you can inform them of new products and sell these at discounted rates even before the official release date. Non-members who see that there are benefits as members will also want to sign up so you just have to come up also with the mechanics for this to work.
If your business is involved with webhosting, you can offer incentives in the form of free email addresses or more storage space to your existing clientele as a reward for getting a new account.
Examples of such incentives have been used for a very long time. Supermarkets and other retail establishments do it and give customers rewards in the form of rebates, airlines have a similar strategy in hand by offering free flights to passengers who have accumulated a certain number of miles, credit card companies offer discounts on fuel and so forth.
There are so many examples to mention and by learning a thing or two from these companies, you too can do the same when you are into viral marketing. Though this might cost you a little bit of your profit, the rewards are endless when the bottom line is that your business is growing.
So if you are in business of viral marketing and you are out of ideas on how to motivate your people open your mind and see how the idea of giving away incentives can work for you. Rewarding is also effective to get more customers so don't think that this always has to be in the form of cash. If you are serious about this, make sure you work on the mechanics of the scheme first to avoid problems that could learn to bad publicity and ruin what you have worked hard for all this time.