In business, we’re often taught to appreciate, value, and reward the notion of loyalty. Based on this principle, companies have developed Loyalty Programs, Rewards Programs, Frequent Flyer Programs, you name it, as a means of benefiting and facilitating repeat business from our most devoted customers. And by most accounts, this is a strategy that, when leveraged correctly, has served to both raise profit margins and reward our loyal customers with deals, discounts, and bonuses on a swath of appealing products and services.
Thu, Oct 01, 2015 @ 10:34 PM
Chances are you've probably heard of Planet Fitness and might even know someone who is a member. With more than 1,000 stores nationwide, it's no surprise that the membership for this "judgement-free zone" franchise has reached an all-time high of 7,000,000 members.
Topics: Loyalty Programs
Tue, Dec 24, 2013 @ 02:30 PM
There are many options available for companies looking to build customer loyalty, ranging from points programs, individual travel incentives, and group travel experiences. Depending on the industry you are in, incentives can target specific customers, markets, or vendors that you would like to build relationships with.
Tue, Nov 12, 2013 @ 03:32 PM
As any company with a focus on customer loyalty knows, the way you keep people coming back time and again is by offering tangible benefits. While running a loyalty program can be done in-house with the proper resources and guidance, there are also many benefits to choosing an outside administrator.
Thu, Mar 21, 2013 @ 03:52 PM
At HMI, we have a lot of discussions about our engagement within our incentive programs. We’re always looking for ways to improve our strategy, including studying and researching everything from behavioral psychology to consumer trends. With the topic of engagement, one wrinkle that occasionally comes up involves the nuances of customer engagement versus employee engagement. What are the driving motivations behind each? How can the two complement one another?
Fri, Jan 25, 2013 @ 03:00 PM
It’s mid-January and for many, the New Year’s resolutions we made have already started to fall by the wayside and retreat to the back of our minds. Personally I have decided to take a holistic approach to my goals this year.
Thu, Jul 05, 2012 @ 03:00 PM
July 4th is a day when many people take a few minutes to consider what makes America so unique, and yesterday I found myself amongst friends discussing the things that remind us of the United States. There were the typical symbols like the American flag or fireworks and some unusual ones like lobsters, but mostly it was an occasion for us to think about all of the great things that this country has to offer.
Wed, May 30, 2012 @ 10:07 AM
In the world of incentives, the role of money in determining behavior has been hotly debated for a long time. Many studies claim that non-monetary incentives like trips and merchandise are far more effective than money in influencing employee behavior. Nevertheless, many companies continue to offer monetary incentives such as company bonuses and stock options. So, does money matter? Or, more importantly, does money motivate? While quite similar, these questions highlight a very important distinction between the two that can be made in terms of human behavior.
Tue, May 22, 2012 @ 10:12 AM
In the world of performance incentives, a first impression can be a very powerful thing. Though much can be said for targeted marketing campaigns that keep participants engaged throughout the entire length of the program, by drawing potential employees or customers into a program from the very beginning, the stage will be set for long term growth and potential.
Tue, May 08, 2012 @ 02:50 PM
I was at a function recently and there was a person there who brought up the difficulties associated with channel programs. As she explained to the group of us, she really wants to roll out a channel incentive program, but the channels she would be rolling it out to don’t want to support it. The problem in her particular case is that the channel’s principals do not want their partnering manufacturers to offer channel incentive program to their employees, which she believes would be favoritism. After explaining her difficulties she asked me “what do I do when the principals don’t want to participate?”