How Do Incentive Certificates Work for Lead Generation?

Incentive certificates boost lead generation by providing a prospect with a benefit (e.g., a dinner or hotel certificate) when they complete just one easy task: requesting a quote, scheduling a consultation, or filling out a questionnaire. This provides a strong motivation for someone to act now, while keeping your pricing consistent. That’s the short version. We will explore below what an incentive certificate is, the five-step process of creating and distributing an incentive certificate, and what to reward and what to avoid.

What is an Incentive Certificate?

An incentive certificate is a reward provided by a business to either its customer or prospect. Examples of incentives include a discounted dinner at a local restaurant, a complimentary night at a nearby hotel, or a weekend getaway. The company providing the incentive issues the certificate under their own name, but the third party issuing the product/service handles the redemption and fulfillment. To the customer, this looks like they received a free gift. From a business perspective, this method allows for increased perceived value added to an offer rather than reducing prices.

How Do Incentive Certificates Work Step-By-Step?

Creating and delivering incentive certificates follows very similar processes for virtually all businesses. The typical incentive certificate process includes:

• Determine one objective. Identify the specific event you want to generate: leads, closed sales, repeat business, etc. For lead generation, typically the objective is for prospects to fill out questionnaires (quotes), schedule meetings (booked appointments), etc.

• Select one certificate. Select One reward that aligns with your objective. Due to the fact that you are only looking for a small commitment from potential customers, you may select a smaller reward to encourage participation.

• Establish one criteria. Clearly outline what qualifies for receiving the reward. E.g., “schedule a free estimate and receive a $100 dining certificate.”

• Distribute quickly. Deliver the certificate immediately upon completion of the established criteria via multiple methods including: text message, email, QR codes, or landing pages. Tools such as Zapier or gohighlevel allow for automatic distribution of certificates based on the criteria outlined above.

• Prospects redeem their rewards. Once activated with a code issued by the business, prospects can use the reward through the provider’s redemption website. At this time, both parties engage in further discussion about purchasing products/services, thus generating new leads. Business owners can pursue further communication with new prospects generated through the incentive certificate program.

Why Do Incentive Certificates Generate More Leads Than Discounts?

Unlike discounts that simply indicate a lower Price point and attract bargain hunters, incentive certificates provide individuals with additional benefits beyond reduced costs. As a result, more people become engaged in participating in the initial offer.

Additionally, incentive certificates provide businesses with easier-to-explain promotional opportunities for advertising purposes (ads, texts/signs at front desk).

What Actions Should Be Rewarded With An Incentive Certificate?

Reward potential customers after completing their first small step toward becoming a customer. The smaller the step taken by the potential customer the greater number of people will participate. Popular lead-generating activities:

• Requesting free quote/estimate
• Booking a consultation/inspection/demo
• Completing contact form/survey
• Attend webinar/seminar/open house
• Schedule policy account review

Reserve larger rewards for subsequent steps (i.e., closing a sale/referring a friend.)

What Does an Incentive Lead Offer Look Like?

A successful lead-offer describes only three things: what reward will be given, what action must be completed to earn it, and no other details. Here is an example of a lead-offer from a roofing company:

Get free inspection by booking your appointment this month and get a $100 gift card!

By incentivizing homeowners to schedule inspections (a key area of opportunity for most roofing companies), the company can build relationships and create more potential customers. The price of any future job remains unchanged.

This same framework applies to various other types of industries such as plumbing offering free water heaters checks, HVAC technicians performing a free tune-up estimates, or solar providers conducting free consultation sessions regarding solar energy savings.

Which Types of Businesses Use Incentive Certificates to Create Leads?

Almost all businesses that require building trust to sell and require an initial meeting/conversation can utilize incentive certificates. Many examples include:

• Roofing contractors/Home improvement services
• Insurance agencies/risk managers
• Accounting/Tax firms
• Real estate agents/brokers
• Marketing agencies/ad agencies

Common Mistakes Made By Most Companies Offering Incentives

Most unsuccessful incentive programs make one of these errors:

1. Provide multiple choices for rewards instead of just one clear reward.

2. Don’t clearly indicate what action must earn the reward - make sure it is obvious why someone would qualify for an incentive and clearly communicate that.

3. Deliver rewards too slowly - provide immediate satisfaction for recipients so they perceive the reward as valuable.

4. No follow up after the initial response – although the incentive created interest and opened doors, ultimately, you still need to call them and close the deal.

How Can You Get Started Creating Incentives for Leads?

Create One offer for one activity and test it for 30 days to determine how many leads it generates. CMI makes it easy to start using our incentive certificates to help grow your leads. Our system lets you choose from over 30 different certificates for leads. You can add your branding, and distribute them instantly via email/text/qrcodes/landing pages whenever you want.