Aklamio is a leading referral marketing SaaS solution for brands, with clients such as Vodafone, Paypal, and Endesa. Aklamio was selected as one of the Top 10 Customer Experience Management Solution Providers in Europe in 2022 by the prestigious CIO Applications Europe.
In this blog post, you will find what incentive marketing is, how Aklamio got started as a company, how its portfolio expanded, and how it became a top customer experience management solution provider.
A highly cost-effective form of marketing, incentive marketing is a powerful way to expand a firm’s customer base. Incentive programs allow companies to increase loyalty, while also incentivizing customers to bring new ones. These programs work well because 84% of people trust recommendations from people they know – making them the most influential form of advertising.
Each business is different, and therefore each one needs to consider what type of incentive works best for its customer base. Companies also need to consider the timing of the incentives, and whether to use them only in marketing campaigns or throughout the entire customer journey. Customers can be incentivized to refer a product or service to individuals they know, sign up for a newsletter, renew a contract, or undertake other beneficial actions.
Over a decade ago, Aklamio ventured into the incentive marketing sector. At the time, the technology to facilitate the incentives process did not exist. Aklamio’s founders were able to identify the gap in the market and create the versatile Customer Incentives Platform. Once integrated, the platform allows businesses to offer incentives to their customers, such as vouchers, discounts, and cashback. Aklamio also plans to launch the option to offset the CO2 of a customer’s purchase.
Aklamio initially only offered the referral marketing solution, but quickly expanded to make other programs available. These include: customer acquisition, upsell & cross-sell, and loyalty & retention programs. This facilitates companies to offer highly personalized experiences – with customers being offered the right incentive at the right time – which increase conversion rates.
The platform was developed to ensure that the overall implementation process is highly efficient and cost-effective. Using the platform, brands can create new incentive campaigns within just a few hours. Customers can then perform a certain action to be rewarded for meeting the set out criteria. In addition, the Customer Incentive Platform allows companies to reward their customers with loyalty points when they make a certain number of purchases or once they reach specific milestones.
Using the platform, brands can track growth and profits directly. With robust tracking and deep analytics, they can monitor overall performance, incentives, marketing campaign contribution, customer lifetime value, and ROI.
Aklamio also takes care of the payments, customer complaints, and fraud prevention and protection, allowing companies to have more time to focus on their core business.
Furthermore, brands get a dedicated Customer Success Manager who helps develop and implement data-driven performance optimization strategies. Aklamio also interprets the data available to businesses, which ultimately helps to create more meaningful customer engagement.
Companies should consider running incentive programs to increase customer acquisition and retention. Customers should be incentivized throughout the customer journey to improve overall customer satisfaction and increase conversions. By allowing customers to share their brand experience with family members or friends, or by rewarding them for specific actions, a brand can increase sales drastically. In fact, Aklamio’s Customer Incentive Platform enables companies to increase their sales by as high as 30%.
Want to find out how Aklamio can help make your referral program a success? Reach out to us here.
May 20, 2022
May 17, 2022