Inspired Incentives

This Is How Manufacturers Should Run Customer Acquisition Programs

Posted by Chris Largent

Tue, Jul 10, 2018 @ 10:05 AM

Many manufacturers these days are running customer data acquisition campaigns to better target their end-users. One way that manufacturers are going about this is with incentive programs.

Makes sense, right? How better to get a contractor’s information than to give him or her something for it?

The problem is, these programs can end up circumventing distributor channels in order to gain direct access to the customers at the end of the channel.

While some manufacturers may not have any choice in the matter, we’ve found that it can be much more beneficial to include all levels when organizing an incentive program designed to get manufacturers more information on their end-users.

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Topics: Channel Incentives

How to Make the Most of Individual Rewards

Posted by Devin Ferreira

Mon, Jun 25, 2018 @ 10:45 AM

In sports, every great team is made up of individuals who are committed to helping the team succeed. At times, this focus on the collective can come at the expense of individual glory.

However, this makes sense, as we usually find that the success of individual athletes in team sports is directly tied to the success of the teams they played for.

Now, you might think I’m going to segue into the ways that incentives can help your organization function like a successful team.

Actually, I happen to think that team sports aren’t the best correlation when it comes to business—and I’m not alone in this opinion.

For starters, sports are based on competition, on winning and losing.

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Topics: Individual Rewards

The Current State of Channel Incentives

Posted by Devin Ferreira

Mon, Jun 18, 2018 @ 10:22 AM

In past blogs, we’ve written at length about channel incentives.

We’ve talked about why partner channels aren’t for everyone.

We’ve discussed how to build long-term channel equity.

We’ve even tried to peer into our incentive crystal ball and predict the future of channel enablement and incentives (spoiler: it looks a lot like the present).

Of course, with a topic as broad as channel incentives, there are a lot of different ways to look at it.

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Topics: Channel Incentives, Partner Channels, incentive programs

Let’s Get Creative with Short-Term Promotions

Posted by Devin Ferreira

Tue, Jun 12, 2018 @ 10:12 AM

As I think back to discussions we’ve had with clients in the past, one thing I’ve noticed is that the term “short-term promotions” often means different things to different people.

One organization might hear this term and think of something that’s used to generate a quick burst of excitement—and sales—around a new product line.

Another might consider a short-term promotion to be an engagement tool that adds value to an existing incentive program.

A third company may see a short-term promotion as a means of rewarding loyal participants with bonus earning opportunities.

None of these organizations are wrong in their ideas about what a short-term promotion actually can be

The picture they have of this incentive strategy, however, is incomplete.

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Topics: incentive programs, Special Promotions

How to Put CSR into Your Short-Term Promotions

Posted by Chris Largent

Thu, Jun 07, 2018 @ 10:04 AM

So far, we’ve discussed some ideas for including Corporate Social Responsibility (CSR) in loyalty/sales incentive programs and group travel programs.

But despite the benefits and goodwill generated by such an initiative, some people still may not be convinced that running these kinds of programs is worth their time.

If you’re one of these people, perhaps a short-term promotion (a quick program that lasts only a few weeks or months and is designed to help with a sales boost or a product launch) is more in line with your budget and time constraints.

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Topics: Corporate Social Responsibility, Special Promotions

How to Implement CSR into Your Loyalty Program

Posted by Chris Largent

Wed, May 30, 2018 @ 10:41 AM

If you’ve read our previous blog on Corporate Social Responsibility (CSR), you know that it’s something that we feel strongly about here at HMI.

There are a lot of opportunities that you can utilize when trying to implement CSR into a Group Travel program, but what about loyalty or sales incentive programs?

You may be thinking that, with a long-term program focusing on everyday activities, it might be hard to generate excitement about CSR.

Nonsense, I say!

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Topics: incentive programs, Corporate Social Responsibility

How to Incorporate CSR into Your Group Travel Program

Posted by Chris Largent

Mon, May 21, 2018 @ 10:06 AM

Corporate Social Responsibility (CSR) is a call for all businesses to try to leave the earth and its communities in a better state than we found them.

Companies that have CSR-driven pursuits seek to lessen their impact on the environment, assist in the development of local communities, provide help to those in need, and so much more.

But beyond the benefits to people and environment, CSR can also have significant and measurable business benefits. These can include anything from better brand recognition, to positive reputation, to employee satisfaction, and even better access to capital through charitable deductions.

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Topics: Group Incentive Travel, Corporate Social Responsibility

Your 3 Group Travel Options

Posted by Devin Ferreira

Tue, May 15, 2018 @ 10:11 AM

Over the years, we’ve talked a lot about group incentive travel.

Why? Because we believe that travel is one of the best drivers of performance there is and that when it’s done right, an incentive trip can be a true differentiator for you among your competitors.

We’ve come at this topic from a variety of angles, because when it comes to group incentive travel, there’s always a lot to consider.

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Topics: Group Incentive Travel

The Debate Is Over: Incentive Programs Bring Tangible Value

Posted by Devin Ferreira

Mon, May 07, 2018 @ 10:30 AM

“There is little debate as to whether rewards work to promote productivity.” - Incentive Research Foundation.

The Incentive Research Foundation (IRF), the leading research apparatus of the incentive industry, recently released the results of an exciting new study that focused on the total value offered by incentive award programs.

According to the study—titled “Award Program Value & Evidence” and serving as part one of a two-part series—organizations that offered award programs saw a significant gain (22% on average) in performance when compared with those companies that didn’t offer them.

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Topics: incentive programs

2 Major Alternative Funding Methods for Your Incentive Programs.

Posted by Devin Ferreira

Fri, Apr 13, 2018 @ 03:08 PM

Do alternative funding models exist for performance incentive programs?

According to the Incentive Research Foundation (IRF), the average per-person cost of an incentive program is just shy of $4,000.

What’s more, 60% of respondents to the recent IRF study also claimed that costs are rising faster than budgets, leading the IRF to reasonably conclude that cost pressure is becoming one of the top ongoing constraints for incentive programs.

With cost continuing to be a concern for program planners, it’s fair to wonder if there are any best practices out there that might mitigate these concerns by requiring a smaller slice of a company’s budgetary pie.

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Topics: incentive programs, funding