Do you want to improve employee performance and
contributions to your business? Do you have special customers you want to
reward for their loyalty and purchases?
Incentive Awards and Customer Loyalty programs are proven methods to
increase profits and improve your bottom line. They can help you be
more competitive in the marketplace and stave off loss of business to new
competitors. Incentive Awards and Customer Loyalty programs are one of the
most powerful tools available to businesses today.
First Things First
One of the first decisions you must make is what type of
Incentive Program you want to implement. That is a function of the goals you
set and your plan for how to achieve those goals. You need to carefully
evaluate the return on investment (ROI) you stand to gain versus the overall
costs of the program. Once you know what you want to achieve, the following
types of programs can be used individually or in tandem with one another. If
you need help structuring your program, just call us at 877-836-1949 Option 2. We’re experienced and
happy to help. You can look at some examples of successful programs by clicking here.
Individual
Incentive Awards
This type of awards program is used when only
one person from the company will be traveling as a reward or recognition for
something they have achieved individually.
Group or Team
Awards
When a group
or team achieves a result that is deemed of significant value to the company
and the company rewards and recognizes the group or team for the exceptional
contribution.
Company Wide
Performance Campaigns
The company
sets an overall goal to achieve something specific and measurable within a
designated time frame and recognizes that every division, function and activity
within the company plays a role in achieving that goal.
Sales Incentive
Awards
This type of
award is utilized to motivate the sales force to achieve increased sales over
and above what would normally be expected. These programs typically have a
defined time-period, are multitiered and have specific measurement criteria and
identify the reward to be earned at each tier level in advance so the person
knows what they are working toward.
Incentive
Programs Combined with Meetings or Training Programs
These
programs typically combine an important business function such as an annual
meeting, specialized training or director’s meetings with the awards ceremony.
Criteria for participation may be different than a pure incentive program.
Customer
Loyalty Programs
These
programs are often structured to help stave off new competition by providing
incentives to your long-time premium customers to continue to do business with
you.
Product Launch
Campaigns
In order to
promote a new product or product line, awards programs are designed around who
can move the most product into the marketplace in a specified time period.
Dealer
Incentive Programs
This type of
award program seeks to build brand loyalty and promotion with the retail outlet
and encourage the dealer to direct sales toward your product or product line
over another.
Safety Award Programs
These
programs are designed to reward those who achieve safety goals that reduce
injuries and costly loss of work time.
Member-Get-a-Member
Campaigns
This type of
award program is specifically geared to membership-based organizations wherein
you use the credibility and experience of current members to increase your
membership base. The recruiting member is essentially a testimonial for your
organization and is generally the most influential type of new member
recruitment tool. Remember, to be effective the goal must be specific,
achievable and measurable. To the extent possible, it should be challenging and
fun. You must also provide the participant with the tools necessary to be
successful. The reward for achieving the goal must be perceived as valuable by
the recipient or your program will likely struggle.
Goal Setting
To be
effective the goal must be specific, achievable and measurable. To the extent
possible, it should be challenging and fun. You must also provide the
participant with the tools necessary to be successful. The reward for achieving
the goal must be perceived as valuable by the recipient or your program will
likely struggle.
Remember…
Properly structured and administered, an
incentive program doesn’t cost you money, it makes you money through improved
performance and productivity that results in improved bottom line profits. We can help your organization be more successful!