All else being equal incentives are a tool often used to drive interactions. So how much response do you get for a given incentive? The below chart is built using data from select marketing campaigns and it shows a direct relationship between perceived value and response rate.
A few points related to this:
- I see these incentives as tools like a shovel. It is up to the marketer to apply an appropriate incentive to a situation to get the desired outcome.
- The absolute response rates will only hold true if all other critical factors are in place. Screw up something else and the incentive will not work.
- And finally you should expect different absolute and relative outcomes based on unique campaign factors.
One thing I have not had experience with is contests with a large value – I presume those would lie somewhere in the mid-range.
