When it comes to performance incentive programs, two is a crowd and three is a crisis. One of the biggest reasons why incentive programs fail is because they fail to stand out from the many other performance incentive programs being offered. For this reason, it’s crucial to out-market the competition early and often if you want to win over the audience.
Mon, Mar 13, 2017 @ 01:42 PM
Topics: Performance Incentives
Thu, Aug 13, 2015 @ 01:17 PM
As someone who works for an incentive marketing company, I often find myself sharing examples of how non-cash incentives are more effective than cash incentives. Fortunately, it's not hard to produce these success stories, because over time, more and more companies have started to recognize that the typical ROI for non-cash incentives far outweighs the typical ROI potential of their cash counterparts.
Thu, Apr 03, 2014 @ 01:37 PM
Topics: Customer Service
Mon, Sep 30, 2013 @ 04:48 PM
In today’s world of Big Data, organizations large and small ignore the proliferation of analytics services at their own peril. From crunching sales figures to making sense of customer demographics, in-depth analysis is more and more frequently becoming the norm as companies seek to extract and utilize key segments of information in order to improve their business. This trend is one that knows no boundaries, with useful analytics services continuing to emerge in a variety of industries and serving a diversity of needs.
Tue, Apr 30, 2013 @ 03:49 PM
Mon, Mar 18, 2013 @ 12:15 PM
If you spend part of your day online, then you’re probably aware of gamification. It’s a rapidly expanding concept that basically means turning any activity that does not typically use game dynamics into one that does (primarily via technological resources).
Wed, Nov 07, 2012 @ 03:26 PM
Last month, HMI hosted a leadership forum in Cancun for a group of its high tech clients. Amongst the serenity of the lush settings of Secrets The Vine Resort in Cancun Mexico was a think tank of industry leaders there to network and share performance incentive best practices.
Tue, Sep 11, 2012 @ 10:00 AM
Just this week, I received inquiries from several clients that had to do with perception. The first was during a conference call with one of my global clients when I was asked about the standard enrollment benchmark for China. When looking at enrollments, it’s necessary to compare the total number of enrolled participants against the total number of those invited. Additionally, enrollment benchmarks vary by country and region depending on a number of factors such as the accuracy of translations, that market’s experience/exposure to incentive programs in the past, the program’s rules structure, the awards offered, competitive programs, and the “ease of use” (i.e. with a program requiring data validations, the data collection process must be very simple to the participant). Based on these factors and our historical observations with other global clients, we were able to provide specific enrollment benchmarks for China and that region.
Topics: Performance Incentives
Thu, May 24, 2012 @ 11:29 AM
One of my clients is a leading manufacturer of hearth products, and we’re running group travel and points-based strategies for them targeting principals and sales reps across their distributor and dealer channels. Increased sales and mindshare are important lagging indicators with any program, and we’re seeing good traction in these areas as the programs mature, but it’s also interesting to observe how a well-structured incentive program can drive secondary and tertiary behaviors. In the construction of ROI analysis, these leading indicators are often ignored or downplayed, yet they can and do lead to stronger channel partnerships, a more educated indirect sales force, and other positive business generating behaviors.
Tue, Apr 24, 2012 @ 10:46 AM
As someone that sells incentive programs, I often share concrete examples of how non-cash incentives provide a differentiator from the competition. The stories keep coming as more and more people realize the fact that ROI for non-cash incentives far outweighs the ROI potential of cash incentives. To use one example, I heard recently about a particular dealer who had never purchased a certain product category from my client before who is now shifting his business to earn points. The client projects that this will probably equate to $50-60k in new business, and it's a double win because not only does it mean more sales, but the sales are in a higher margin product category. That story is just one of many examples of new business being generated through a rewards program, but there are other benefits as well. Consider the following story of a current customer: