What Is The Difference Between A Sales Incentive Promotion And A Customer Loyalty Promotion?
Which is better to drive new sales?
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A customer loyalty promotion is focused on rewarding (and retaining) existing customers. It can result in new sales with existing customers. For example, if you travel by air you likely have signed up for an airline rewards program.
A sales incentive promotion is focused on providing potential customers with a ‘better’ reason to buy from you. For example, a local phone company provides a digital camera free if you are a new customer and sign up for a 3 year program.
The sales incentive promotion is likely to drive more new sales IF the customer’s perception is that the value of the promotion is signifiicant (and if the product or service you want to sell has value).