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What is Awards Marketing?
Awards-based marketing is the next step beyond email marketing because it allows you to issue and track thousands of awards, including product and services discounts, manufacturer dollars or cash directly to thousands of highly targeted customers who have self-identified their interests and are already members of the XBux network.
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Zero Cost - Is that really possible?
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- Think of these promotional programs as electronic tracked coupons. Use XBux to create as many as you like for free, complete with your brand and logo. No printing, stamps or postage required.
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Why can't I just email coupons?
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- Awards in XBux are like checks. Each award has a unique 100% traceable ID
- We carefully monitor all usage so you get detailed accurate information on your programs
- We issue awards within XBux so your promotions don't get tagged as spam and blocked from delivery
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What happens when I create an 'Awards Campaign' in XBux?
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Your branded awards are transferred to thousands of qualified customers and a
notification email is sent to each person
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Benefits of awards marketing
- Complete, closed-loop tracking gives you detailed data on what programs succeeded and helps you identify where you need more work or tuning of a campaign
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XBux support 3 types of awards:
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- CASH via branded stored-value Visa debit cards
- XBux offers two types of stored-value Visa debit cards
- XBux Partners can pay out cash on stored-value Visa debit cards printed under their manufacturer's brand or use the XBux branded Visa stored value card
- The cards are issued to XBux members and can be used at any merchant that accepts Visa.
- Funds can be added to the cards by you, manufacturers, family, or friends
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- MANUFACTURER CURRENCY
- Manufacturers and dealers can issue their own branded currency that can only be redeemed directly with them. Redemption can be on-line or in store. These are often known as manufacturer dollars or dealer bucks. No card is required for these awards; they are simply stored in your online account.
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- MANUFACTURER DISCOUNTS
- Manufacturers and dealers offer thousands of discount awards in the form of branded discounts off products or services that can only be redeemed directly with them or on-line.
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XBux support 3 types of awards campaigns:
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- Whether or not you are a competitor, you can search by manufacturer or product and find many thousands of promotional online savings awards and coupons. You will automatically receive these from time to time during the year.
- XBux periodically offers Speed Demon promotions to enable a manufacturer to issue time sensitive discount awards. Move quickly, these promotions are first-come first-served!
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- These are high value awards for serious amateurs and professional athletes. Typically in the form of money of manufacturer dollars. These are paid out based on performance.
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- These awards require a specific ranking in the system to qualify. This avoids the need for users to have to write a resume. Ranking is auto generated in XBux based on ratified results and performance payout. No more manually entering data into your resume. If your rank is high enough you will have access to grab the best sponsorship packages. If not you will still find plenty of other awards available to you.
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Awards marketing hints and tips
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To make the most of your advertising and sponsorship dollars, plan your
programs and design your online awards so that you will get the highest
possible response.
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Keep in mind the unwritten rules of online marketing:
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Create clear and simple promotions and awards
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Marketers have a lot to say about their products, services or events and are
always tempted to cram all that information into a single program
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You want your customers to quickly and easily understand the key messages
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Make sure it easy to buy
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- The "Abandoned Shopping Cart" significantly reduces the performance of online marketing programs
- Make the promotion easy to understand and redeem
- Complicated or hidden fees drive away prospects
- Clearly define program price and terms
- Larger Discounts produce better results
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Plan your pricing strategy
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- Many consumers have become immune to online discounts under 25%
- Follow up later with additional promotions where you vary the offer
- Consider using discounts of 30% or more to secure that first sale from a new customer
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Using ‘Free’in your Offer
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- If you don’t offer something the customer wants you are wasting your time
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Understand Your Customers Schedule
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- Know your customers and target audience to determine the right time to launch your promotions and how long they should run
- When do your customers buy goods and services?
- Promotions that run earlier in the week often produce better results
- When run late in the week, programs often get lost over the weekend and quickly become stale
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Reach and Frequency Matter
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It is okay to make an offer to a customer more than once
- Don't SPAM your audience with the same message again and again.
- You want your customers to see and hear about your products more that once
- Vary your programs to keep them fresh
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Narrowcast or Broadcast
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Do you want to make an offer to a select audience (such as competitors with a
particular ranking or all competitors) or to a broader audience of members?
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Broadcast offers reach more people but your promotion has to be something that
would be attractive to a broad audience.
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Know or learn the best way to reach your audience
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- Make an offer that will appeal to your target demographic. It sounds obvious
but it is often overlooked.
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Use the five 'Ps' of Sales and Marketing; Price, Product, Package, Promotion, Place.
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- Carefully consider each component of the offer when creating a targeted promotion
- What Price point that will work best?
- How will Packaging impact sales?
- Is the right Product being sold to the right audience?
- What kind of Promotion will appeal to the group you are trying to attract?
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- The details of the promotion can include special pricing, bundling with other products, rebates, free merchandise, extended service and support, limited production merchandise, discounts, rebates, special access to events or celebrities, etc.
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- Define your product’s ‘Place’
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- Place is about distribution channels
- When you sell your products to the market, are you selling directly to users or do you go to market through retailers or distributors?
- Each of these is a channel
- XBux helps you get to market through the best channel for your business
- We can help you connect directly to customers who will use your product or
service or participate in your event
- We can also help you adjust your channel strategy by driving business to you
directly or through your distribution channel
- You decide what works best for your business
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