Earlier this week, we explored two of the most challenging aspects of running a channel incentive program – how to maximize a partner program budget and how to keep things fresh without needing to reinvent your strategy ever quarter and year. As I said in my previous post, the challenges I outlined last week and the ones I will detail in this post come from the real experiences of some of my clients, and I believe that finding innovative solutions to these problems can make any channel incentive program successful. The other two challenges are:
Thu, Jun 14, 2012 @ 10:14 AM
Thu, Jun 07, 2012 @ 09:53 AM
We have on-demand television and movies. We have search engines, the equivalent of on-demand data banks. We have voice-activated GPS, 24-hour online retail, and free long-distance communication. We have food delivery in 30 minutes or less, music downloads, eBooks and mobile internet. Whether or not you and your business are ready for it, we are all learning to live in an increasingly on-demand world. All of these advances signal a remarkable shift in how customers shop for products, a transformation of the passive consumer into an active, more informed one. As more and more companies try to adapt their marketing and sales approach to this new customer attitude, their products and services should naturally be evolving as well.
Fri, May 04, 2012 @ 10:03 AM
Some economists would have us believe that the economy is improving and the recession is over. Though many companies are still struggling to make ends meet, at some point the recession will be over and it will be business as usual again – but not without a few changes.
Fri, Apr 27, 2012 @ 01:06 PM
One of the biggest challenges that companies face today is the fact that many people only stay at their current jobs/roles for less than five years. As someone who has been in the incentives industry for many years, I know firsthand what a high turnover rate can do to incentive and loyalty programs. Once I establish a relationship with a new client and help them create an incentive program, I encourage them to follow a few of the best practices I have observed over the years when it comes to ensuring the success of a rewards program.
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:
Fri, Apr 20, 2012 @ 10:05 AM
Individual Travel Awards are becoming increasingly popular as an essential part of a points based reward program. Travel award options can include everything from spa vacations to ski weekends to luxury cruises to weeklong stays in Europe. Considering the fact that more and more people are redeeming for individual incentive travel awards, having an exciting array of travel options is crucial for your program’s success.
Fri, Mar 30, 2012 @ 09:39 AM
Tue, Feb 21, 2012 @ 11:00 AM
Do you know your customers well enough to be in a position to set appropriate goals for your annual incentive program?
Thu, Dec 22, 2011 @ 03:15 PM
The key to any successful rewards fulfillment department is great customer service, and for companies that work with many suppliers, it’s inevitable that sometimes it will seem like moving mountains to get an order fulfilled quickly and seamlessly. Even enormous fulfillment operations have orders that can fall through the cracks, and it is the mark of great customer service when a team can make the unthinkable happen.
Tue, Dec 20, 2011 @ 01:52 PM
In the world of incentives, there are numerous types of programs that are capable of improving company performance and boosting revenue. Each program establishes its own unique incentive objectives and offers a particular strategy for achieving those objectives. One such program involves customer incentives, and its objective is simple: engage customers and increase their loyalty to your brand.