Providing incentives

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Providing Incentives

Overview
Benefits should be mutual!

Introduction

The Opportunity
If the opportunity is fulfilled,
it will be a stress-free process!

The Current Situation

Key Success Factors
• 1. Optimal use of advertisements.
• 2. Barnes and Noble’s ability to communicate.
• 3. Student’s ability to initiate.

Analysis of Alternatives

Strategic Action
Tangible benefits is key!

Benefits
+ Student Loyalty and Satisfaction

Benefits
+ Increases Profits

Benefits
+ More dedicated customers

Benefits
Happier customers... …Increases sales revenue!
Customer Satisfaction
0 50 100
Comet
Waitrose
Aldi
Amazon
Sales Growth(%)
Comet
Waitrose
Aldi
Amazon
-20 -10 0 10 20 30

Risks
- Influx of one-time, seasonal customers.

Risks
- Possible Deficits

Recommendations
+ Advertisements

Recommendations
+ Communicate!

Recommendations
+ Incentives and/or Loyalty Programs

Recommendations
+ Make it all flow

References
• Rozen, S. (2011, September 1). Effective Advertising Techniques we Can Learn from
infomercials. Retrieved November 29, 2014, from http://forty.co/effective-advertising-
techniques-we-can-learn-from-infomercials
• Peiguss, K. (2012, April 3). 7 Customer Loyalty Programs That Actually Add Value.
Retrieved November 29, 2014, from
http://blog.hubspot.com/blog/tabid/6307/bid/31990/7-Customer-Loyalty-
Programs-That-Actually-Add-Value.aspx
• PR Loyalty Solutions. (2012, June 21). Reasons for Loyalty Programs - What They
Can Do. Retrieved November 29, 2014, from
http://prloyaltymarketing.com/customer-loyalty/reasons-for-loyalty-programs-what-
they-can-do/
• Kerschbaum, J. (2013, November 26). How to Convert One-Time Customers Into
Repeat or Lifetime Customers. Retrieved November 29, 2014, from
http://searchenginewatch.com/sew/how-to/2309171/how-to-convert-one-time-customers-
into-repeat-or-lifetime-customers

References
• Joseph, C. (2010, October 8). What Are the Benefits of Delivering Excellent
Customer Service? Retrieved December 6, 2014, from
http://smallbusiness.chron.com/benefits-delivering-excellent-customer-service-
2086.html
• Paternoster, L. (2012, February 22). The missing link: How customer service
drives sales and market share. Retrieved December 6, 2014, from
http://www.instituteofcustomerservice.com/1768-8887/The-missing-link-
How-customer-service-drives-sales-and-market-share.html

Appendix
Contact information for Business Owner Interviewed
Name: Cavan Myers
Business: St. Petersburg College Tarpon Springs Bookstore
Location: 674 E Klosterman Road, Tarpon Springs, FL, 34689
Email: AM8048@bncollege.com

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Cracking the Cultural Competence Code.pptx

Cracking the Cultural Competence Code.pptx

Cracking the Cultural Competence Code.pptx

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B.COM Unit – 4 ( CORPORATE SOCIAL RESPONSIBILITY ( CSR ).pptx

B.COM Unit – 4 ( CORPORATE SOCIAL RESPONSIBILITY ( CSR ).pptx

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Falcon's Invoice Discounting: Your Path to Prosperity

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Cracking the Cultural Competence Code.pptx

Cracking the Cultural Competence Code.pptx

Cracking the Cultural Competence Code.pptx

Business Model Canvas (BMC)- A new venture concept

Business Model Canvas (BMC)- A new venture concept

Business Model Canvas (BMC)- A new venture concept

B.COM Unit – 4 ( CORPORATE SOCIAL RESPONSIBILITY ( CSR ).pptx

B.COM Unit – 4 ( CORPORATE SOCIAL RESPONSIBILITY ( CSR ).pptx

B.COM Unit – 4 ( CORPORATE SOCIAL RESPONSIBILITY ( CSR ).pptx

Providing incentives

1. Providing Incentives

2. Overview Benefits should be mutual!

3. Introduction

4. The Opportunity If the opportunity is fulfilled, it will be a stress-free process!

5. The Current Situation

6. Key Success Factors • 1. Optimal use of advertisements. • 2. Barnes and Noble’s ability to communicate. • 3. Student’s ability to initiate.

7. Analysis of Alternatives

8. Strategic Action Tangible benefits is key!

9. Benefits + Student Loyalty and Satisfaction

10. Benefits + Increases Profits

11. Benefits + More dedicated customers

12. Benefits Happier customers... …Increases sales revenue! Customer Satisfaction 0 50 100 Comet Waitrose Aldi Amazon Sales Growth(%) Comet Waitrose Aldi Amazon -20 -10 0 10 20 30

13. Risks - Influx of one-time, seasonal customers.

14. Risks - Possible Deficits

15. Recommendations + Advertisements

16. Recommendations + Communicate!

17. Recommendations + Incentives and/or Loyalty Programs

18. Recommendations + Make it all flow

19. References • Rozen, S. (2011, September 1). Effective Advertising Techniques we Can Learn from infomercials. Retrieved November 29, 2014, from http://forty.co/effective-advertising- techniques-we-can-learn-from-infomercials • Peiguss, K. (2012, April 3). 7 Customer Loyalty Programs That Actually Add Value. Retrieved November 29, 2014, from http://blog.hubspot.com/blog/tabid/6307/bid/31990/7-Customer-Loyalty- Programs-That-Actually-Add-Value.aspx • PR Loyalty Solutions. (2012, June 21). Reasons for Loyalty Programs - What They Can Do. Retrieved November 29, 2014, from http://prloyaltymarketing.com/customer-loyalty/reasons-for-loyalty-programs-what- they-can-do/ • Kerschbaum, J. (2013, November 26). How to Convert One-Time Customers Into Repeat or Lifetime Customers. Retrieved November 29, 2014, from http://searchenginewatch.com/sew/how-to/2309171/how-to-convert-one-time-customers- into-repeat-or-lifetime-customers

20. References • Joseph, C. (2010, October 8). What Are the Benefits of Delivering Excellent Customer Service? Retrieved December 6, 2014, from http://smallbusiness.chron.com/benefits-delivering-excellent-customer-service- 2086.html • Paternoster, L. (2012, February 22). The missing link: How customer service drives sales and market share. Retrieved December 6, 2014, from http://www.instituteofcustomerservice.com/1768-8887/The-missing-link- How-customer-service-drives-sales-and-market-share.html

21. Appendix Contact information for Business Owner Interviewed Name: Cavan Myers Business: St. Petersburg College Tarpon Springs Bookstore Location: 674 E Klosterman Road, Tarpon Springs, FL, 34689 Email: AM8048@bncollege.com