Inspired Incentives

Incentive Rewards: Using Analytics to Improve Your Program

Posted by Ben Griffith

Tue, Apr 30, 2013 @ 03:49 PM

Incentive Awards Program analyticsWhile doing some year-end analysis a few months ago for a distributor client, we noticed a significant difference between participant performance and non-participant performance (those who were invited but chose not to participate in the incentive program). Following our observation, the client ran their own analysis to confirm the results. They found that non-participating dealers grew by only 11.6%, whereas participating dealers grew by 26% - almost 15% higher. Because of the implications of this analysis, the client began placing a bigger emphasis on enrolling more dealers into the incentive program. HMI established an additional incentive solution for the client that created a personalized formal invitation that was mailed to the dealers’ homes in a sleek envelope. Included in the invitation was a sweepstakes for 10 new enrollees to earn two event tickets to the sporting or entertainment venue of their choice. This exciting “call to action” resulted in an increased response rate within a one-month period, and will likely yield higher company revenue across this group by the end of the year (as per the findings above). 

incentive rewards program Another exciting result from this first-year program is that the client is one of three companies that have earned $100,000 in unmatched marketing funds at a manufacturer-sponsored dealer meeting in Las Vegas. The client said this achievement and the resulting cash bonus could be directly tied back to their incentive rewards program. In their particular category, they were 25% higher than 2nd place. They were required to use all of their funds, and they did this easily by expanding their customer incentive program to their employees, further motivating their employees to learn about the program’s benefits and to share it with their customers. At the end of their first program year, the client said, “Even with the limitations we put on the program, we like to think that it was wildly successful." 

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Topics: Performance Incentives, Channel Incentives, Success Story

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