The results were very interesting; it turned out that the tangible-reward group increased sales by 46% more than the monetary-reward group. They also improved in terms of the mix of products sold by 37%.
Marketing to clients is all about discovering their needs, and fulfilling them. Click To Tweet
One explanation, and which may be a fairly good one, is that we can visualize tangible rewards (imagine yourself on a Hawaiian beach), which creates an emotional response. Money, on the other hand, is not accompanied by images as often (aside from maybe Scrooge McDuck swimming in piles of it), and lacks the emotional pull that tangible rewards have, so they’re less effective in motivating employees. I guess it’s called “cold, hard cash” rather than “future beach vacation cash” for a reason.
And, as the Practice Builder Publishing mantra goes, “Your clients needs are never for your services. They are for something else. Something like increased store traffic, lower employee turnover, less product shrinkage or waste, or more free time.”Your clients needs are never for your services. They are for something else. Click To Tweet
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