Recently, we held our annual HMI Incentive Leadership Forum in the beautiful Riviera Maya, Mexico! This is an event that we host every year that brings together HMI executives with valued clients and other industry thought leaders to discuss and promote key trends, technologies, strategic innovations, and general best practices in the world of incentives. What makes this event so special?
Thu, Feb 09, 2017 @ 09:31 AM
Every year our global partner, MMI publishes their “Top 10 Predictions for B2B Loyalty Programs.” Understanding these trends help uncover opportunities to drive better performance in in your program. Here’s a few key takeaways already impacting many of our client’s strategies:
Wed, Jan 18, 2017 @ 04:03 PM
As defined by Rajat Paharia, Founder and Chief Product Officer, Bunchball, Gamification is the integration of game mechanics and theory into non-game applications and processes in the workplace. Simply put, the concept applies a game-oriented approach to non-game activities, making them more engaging. Game mechanics motivate participants to get involved and solve problems.
Fri, Jan 06, 2017 @ 02:19 PM
How is an incentive program different from a recognition program? It’s a distinction that often gets overlooked. While both types of programs reward employee behavior, they do so by triggering very different motivational cues, are geared towards different types of people, and are best suited for different situations. Below, we’ve constructed a brief breakdown of the differences between the two program types:
Topics: Performance Incentives
Thu, Dec 29, 2016 @ 11:30 AM
In the early 1900s, economist Vilfredo Pareto observed that 80% of Italy’s wealth was held by 20% of its population. In business, the Pareto Principle has come to describe how 80% of a company’s sales will often be derived from just 20% of its customer base, and how 80% of a company’s sales volume will be generated by just 20% of its sales force. As a basic principle, this is all well and good, but when a company starts to put too much stock in its top achievers, it risks losing out on a big portion of incremental sales. In fact, according to Matt Harris at the Incentive Research Foundation, much of a company’s incremental sales may not in fact come from the top 20% of their sales structure, but rather from the group that lives in the middle 60%.
Topics: Performance Incentives
Fri, Dec 16, 2016 @ 03:40 PM
In the world of incentives, there are numerous types of programs that are capable of improving company performance and boosting revenue. Each program establishes its own unique incentive objectives and offers a particular strategy for achieving those objectives. One such program involves customer incentives, and its objective is simple: engage customers and increase their loyalty to your brand.
Wed, Dec 07, 2016 @ 08:10 PM
Strengthening relationships and increasing sales is a goal many companies have. With a multifaceted incentive program, this fuel distributor was able to do just that!
Topics: Sales Growth
Fri, Nov 25, 2016 @ 02:56 PM
Managing an international meeting, incentive, conference, or event (MICE) takes a lot of work. A LOT! You will undoubtedly confront certain challenges in the planning process, even with a domestic program. For those planning international events, there are some additional complexities. Take it from me: at HMI we organize MICE in destinations all over the world, and each time we’re faced with a set of unique challenges that force us to bring our strategic “A” game. Based on these experiences, I’ve come up with a set of essential, common sense suggestions that should help prepare anyone interested in organizing an international meeting, incentive, conference, or event:
Thu, Nov 17, 2016 @ 10:15 PM
In previous posts, we have discussed how beneficial performance incentives can be for all types of companies, no matter what industry they are in or how big or small they are. To illustrate that point, we recently gathered information on one of our programs, a group incentive travel program that we administer for a large supplier of industrial supplies and materials. While the program itself was company-wide, we thought this local branch was a great example of the benefits of doing group incentive travel incentives.
Topics: Group Incentive Travel
Fri, Nov 04, 2016 @ 05:11 PM
But how do you design and implement an incentive program to get them to buy in? It’s all a matter of asking the right questions.
Topics: Channel Incentives