Contactless shopping has added to an increase in virtual engagement throughout the sales process. For some industries, inventory gluts have led to deeper discounts to move excess products. For others,
product shortages have eroded brand loyalty as buyers reach for alternative brands to meet their needs.
œPurchasing habits have been fundamentally changed - when we buy, how we buy and the brands we buy. In the current environment, incentives to drive sales without permanent price reductions, along with the opportunity to engage with customers and rebuild brand loyalty, gain significant importance - Jack Benrubi, Vice President Business Development, The Advertising Checking Bureau, Inc.
To help brand and product incentive programs navigate these more volatile marketing conditions, manufacturers have adopted ideas and strategies to support their programs.
Kindness is being embraced and extended. In many rebate offerings- special opportunities are offered to Frontliners. Charitable organizations are provided as an additional option for rebate recipients to donate their rebate rewards.
Recent strategies have focused on offering flexible extensions for both the eligible purchase period and length of time for submission of claim requests for payment. Although not a viable alternative for all, some manufacturers have increased the value of the rebate and spiff - some even doubling the incentive amount. To simplify program administration, more manufacturers provide virtual online rewards that align with recent increases in at-home and online shopping and offer the opportunity for increased social engagement with their consumers and sales channels.
By deploying creative tactics, manufacturers have discovered opportunities to navigate the current economy and remain positively engaged with their consumers and channel partners.
A complete copy of Rebate and Sales Incentive Program Strategies and Recommendations from ACB experts is available and can be downloaded now.
ACB remains uniquely qualified to address the Marketing Services needs of brands, manufacturers, service providers and their advertising agencies. For more information on ACB services covering Co-op Advertising and Compliance Program Administration, Competitive Ad Tracking, Rebates and Sales Incentive program services, please visit acbcoop.com or contact us at sales@acbcoop.com.
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Source: http://www.prweb.com/releases/acbs_study_finds_manufacturers_quickly_adjusted_rebate_and_sales_incentive_programs_to_adapt_to_market_conditions/prweb17162233.htm
