Welcome bonuses have always been an effective way of drawing potential customers into your business or service. You’re most likely to get their attention when you tell customers that a bonus offer is awaiting after signing up.
More businesses are using sign-up bonuses and discounts to boost their customer’s loyalty and interaction and increase sales growth. It is crucial for you to properly have a clear understanding of how your businesses can profit from customers’ incentives.
What Are Welcome Bonuses?
A sign-up bonus is an incentive you offer to encourage customers to sign up on your website. According to a report, getting something in return for doing virtually nothing evokes emotion in consumers. Free products and rewards positively influence buyers’ perspectives about your business, may help you gain new customers, and inspire loyalty among existing customers.
Here are some ideas for welcome bonuses, depending on your type of business and what works for your customers:
- A video
- A discount off the first purchase
- A free report or guide
- A free coaching session to help customers with challenges
- A checklist or ‘how to do something
- The first course free
- A free accessory related to your product
How Do Welcome Bonuses Benefit Your Business?
Sign-up bonuses may be the instrument that can bring your business to success — from an increment in sales to an improved reputation.
Here are some advantages of using welcome bonuses:
1. Creates a Sense of Urgency
Sign-up bonuses are perfect ways to attract potential customers to your store. If your sign-up bonuses are only valid for a particular amount of days, you are to mention that when you are advertising, this will create a sense of urgency and make them sign up on time. For example, a social media banner that states, “sign up before 12th July and get free delivery to your doorstep,” will garner the attention of potential buyers. Similarly, when you use a welcome bonus in a stock trading account can attrack investors to start their investing journey.
2. Increases Sales
One significant benefit of using sign-up bonuses is that it increases sales in no time. When your traffic begins to skyrocket, it is a massive sign that more sales are coming in. The sign-up bonuses attract more people to your store, and this would, in turn, increase your traffic. When people find out they have bonuses stored up for them after signing up, they get glued to your store, and they might finally lead to a potential buyer or customer.
3. Rewards Long-Term Customers
Sign-up bonuses or discounts are effective ways of appreciating returning customers for their loyalty. You can make use of discount offers for those who are loyal to your brand and keep returning. It is straightforward to send a mail telling them how you appreciate their loyalty and to reward them with a unique bonus or discount by signing up for a program. This will make them keep coming back for you.
4. Keeps You Ahead of Competitors
Using sign-up bonuses to attract your customers can significantly improve your business. You must understand that not all business uses sign-up bonuses for their customers, and your being an exemption gives you an edge over them. Doing this gives your customers or audience a valid reason to patronize you. It could be a vital thing that distinguishes you from your competitors. You should know that your target audience will always have other options or choices when searching for the product or services you offer. By distinguishing yourself from them through sign-up bonuses, you are most likely to gain more customers, and fortunately, if you have a good loyalty plan, you can eventually keep them.
5. Encourages Inactive Customers
Sign-up bonuses can make your inactive customers suddenly become active. This is because everybody loves discounts and bonuses. Bonuses are not just for rewarding loyal customers. You can also use them to attract and bring back inactive customers. When you offer attractive bonuses, there is a high probability of re-engaging customers who have been active for a very long period.
6. Builds Engagement and Awareness
If you’re not gaining much visibility and awareness of your business, you can try using sign-up bonuses or incentives to stimulate people to engage with your business. You can provide incentives for your shares and user-derived content like your images of a delivered order.
7. Helps You Get Feedback
Feedbacks are critical in business. They help your focus on issues you might not have noticed. If you find it hard to get feedback from your customers, you can use a sign-up bonus for new customers to communicate with you. You can offer existing customers a discount on their next purchase if they would rate you or give feedback and review.
There are so many benefits of using sign-up bonuses to attract customers. If your goal is to make sales and grow your business, then you should embrace the use of incentives and discounts, as they have proven to be quite effective over the years.