- It’s all about reaching the middle 60%.
Your core customer base is critical for driving results. Motivating the middle tier of that group can be a challenge, but incentive programs have a track record of inspiring year-over-year sales increases across multiple industries. They help boost your sales and increase your “share of wallet” to support longer-term growth.
- Show them their business matters.
Make your middle 60% feel like your top priority by offering enticing and attainable rewards. Consider a multi-level initiative: while top earners might qualify for an incentive group travel trip, others would have the opportunity to earn incentives by accumulating points and then redeeming them for individual incentives (merchandise, tickets to sporting events, individual travel, etc.).
- It’s all about customizing for the best fit possible.
Effective incentive programs should drive performance. Another important measurement of a truly successful program is its ability to inspire, motivate, and invigorate as much of the target audience as possible. That’s where customization can come in. Whether it’s rewarding the top 20% or moving the needle with your middle 60%, or both, it’s important to clearly define your objectives and then design a program to achieve your goals.
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Remember, a diverse array of incentive solutions can be used to meet the needs of your business, and we’ve found that the most successful ones start with identifying your key strategic goals. So, what do you want to accomplish this year?