Telecoms Boost Revenues and Foot-Traffic through Smarter In-Store Incentives
In the fast-paced telecom industry, Network Providers and MVNO’s alike constantly strive to win their share of the market. With the increased market pressure and declining margins, retailers need to act quickly to drive customer traffic in new and exciting ways.
How do you get new and existing clients to stay? What steps are being taken to encourage your customers to join and to keep them happy and loyal to your brand? What value added incentives are in place to increase foot traffic and increase loyalty? These are all questions that can be addressed with a well-thought out loyalty and incentives plan. Quick, personalized incentives have been found to be especially effective for handset and bundled promotions.
Here are 5 ways in-store incentives help drive increased foot traffic, significantly impact sales and increase customer loyalty:
- Value- Added Rebates = Increased revenues:
Provide a rebate to be offered to new subscribers when purchasing a new mobile device and/or service. The rebate can then be used for purchase of add on features or accessories. Prepaid card programs can be customized to restrict the usage of the card within your brands and block your competition. We have found that 70% of customers use the incentive cards while in store to purchase additional add on products for their handsets.
- Loyalty and Rewards = Increased customer loyalty:
Creating a rewards/rebate program builds loyalty and added perceived value. Customers have so many options when it comes to telecom, by offering a referral or reward to refer their friends and family can give you the edge when enticing new clients or thanking existing ones.
- Upgrade Incentives = Entice customers to upgrade:
Technology is consistently advancing, by offering a prepaid card incentive for trade-ins you can entice your customers to upgrade to the newest products or service package.
- Targeted Incentives = Geographical targeting:
Perhaps you have a new location or an area where sales are low or declining. Create a card program for the specific area to drive sales or create buzz for the new provider.
- Branded Incentives = Increased branding exposure:
Create a branded payment card to encourage customers to purchase. Remind them of your brand every time it is used and that your business provided the reward. This will keep your brand top of mind for your customers while increasing chances of them staying loyal because they will think of you every time.
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