Time-limited sales rankings or competitions are two of the best methods to stimulate sales. The purpose of ranking is to motivate larger purchases of the organizer’s products, which usually happens at the expense of purchasing from competing companies. Nothing motivates like competition.
What can a ranking mechanism in a contest look like?
Within a specified time, you can reward those who make the largest purchases from the loyalty program’s organizer. Based on sales data, you can create a ranking that is visible to participants. The participants can then see their ranking and potentially make larger purchases to climb the ranking ladder and win an attractive prize. It is also worth noting that to comply with the General Data Protection Regulation (GDPR), each participant’s data should be anonymized.
Why should I create a ranking system in my contest?
When organizing your rankings, keep in mind that the most important thing is to keep the participants motivated. If they don’t get a prize, their interest will drop. Make sure they always go out with a little benefit. In addition to the main prizes for purchases made, you can also award loyalty points. Using this strategy will allow each participant to be a winner in some way, which will positively affect their motivation and influence potential future purchases.
How do I create a ranking system in my contest?
All of this sounds great, but how do you put it into practice? When using LoyaltyZen, you can carry out anything from marketing tasks to rules and legal statements.
Remember that a ranking can be both a marketing activity in itself and part of a more extensive program. The prizes for winning are most often valuable, such as a trip to a luxurious hotel, a photo session, preparation of promotional material, or a set of specialized tools for companies in the construction industry. Consider introducing a points system – this way, participants that are further in the ranking will be able to exchange the accumulated points for specific rewards.
Are rankings in loyalty programs worth it?
Well-executed rankings, which manage to keep the participants’ motivation, can be a great tool to support sales in the long-term.
If, after reading this blog, you see the potential for this type of system in your organization, we are happy to help discuss the possibilities and if it is a good fit for your company. LoyaltyZen offers a variety of solutions to help create and supervise the ranking system to optimize profits.