Inspired Incentives

Devin Ferreira

Recent Posts

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: Special Promotions, incentive programs

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

3 Incentive Strategies You're Not Thinking Of

Posted by Devin Ferreira

Thu, Apr 05, 2018 @ 02:00 PM

I’ve always disliked the proverb, “there’s more than one way to skin a cat.”

Whether or not you’re an animal lover, you have to admit it’s a pretty gruesome way to describe an otherwise benign idea: the idea that there’s more than one way to get a job done.

What is perhaps even more surprising than the origins of the original saying, is that this obscure and outdated reference doesn’t seem to have been properly updated to fit these modern times. How about:

“There’s more than one way to order a Big Mac.”

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Topics: Customer Loyalty, Channel Incentives, Employee Motivation

3 Group Incentive Travel Destinations You Haven’t Considered

Posted by Devin Ferreira

Thu, Mar 15, 2018 @ 02:09 PM

Imagine that you’re planning an incentive trip for yourself and 20 of your top customers or employees. Where would you go?

I could say that money isn’t a factor, but of course it is, so your choice would need to consider a somewhat limited budget (for the sake of the thought experiment, we’ll suggest the average incentive budget of around $4,000 per-person).

Now, you could choose a bucket-list destination, like the Galapagos Islands or a safari in Kenya, but these, while admittedly amazing, probably come with a price tag above what you’re willing to pay.

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Topics: Group Incentive Travel

The Top 4 Incentive Travel Mistakes and How To Avoid Them

Posted by Devin Ferreira

Tue, Feb 20, 2018 @ 03:03 PM

Most of us have been there: you’ve planned a trip that you’re really excited about. You consider yourself to be a prudent, fairly organized person, so, thinking ahead, you’ve created a brilliant itinerary to make the most of your limited vacation time.

You feel like you have the perfect balance of active and leisure time, and you’ve even built in an experience of the local culture to help you broaden your horizons and appreciate something you know you won’t find back home.

Now all you need to do is stick to the plan and everything will work out just as you expect it to.

But then your flight gets delayed, or it rains on your day of leisure.

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Topics: Group Incentive Travel

Know Thy Participants: Why Group Demographics Are a Real Difference-Maker

Posted by Devin Ferreira

Tue, Feb 06, 2018 @ 10:02 AM

Let’s play a game. Take a look at the following three personality profiles:

Part 1: Participant Profiles

1) Tony is a 45-year-old independent contractor from Pittsburgh.

He has a wife and two kids. He earns between $50,000-$60,000 a year, and he loves the Steelers and Penguins.

Tony owns a small boat, and during the summer, he and his family rent out the same lake house and spend two wonderful weeks swimming, water skiing, and enjoying the great outdoors.

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Topics: reward options, demographics

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