Looking to implement an incentive program or improve your existing one? Then you’ve probably noticed there are plenty incentive companies to choose from. The one thing all these companies have in common is that they offer rewards. But you shouldn’t settle for just a rewards supplier when you could have a strategic partner in achieving your sales and marketing goals. The right incentive company can become full-fledged asset in helping develop incentive plans that align with your organization. What should you expect from incentive companies to make sure you get the most out of the relationship? Ask your incentives provider these questions to see if they measure up:
A company that’s reward neutral or “reward agnostic” has no commitment to providing you any specific type of incentive rewards. Look out for reward program providers who try to push you too hard to use one reward over another. They may just be trying to earn as high a mark-up as possible off your business. An incentive program provider should sway you toward what will work for your business, not what they want you to buy. Their goal should be the same as yours: for your program to achieve as high an ROI as possible.
Here’s a counterbalance to the issue of reward neutrality. An incentive company should be knowledgeable enough in the effects of each type of incentive reward to tell you which is best for your objectives. They should offer a diverse selection of reward types to choose from so you can motivate any type of participant audience you want.
Combining any of these reward incentive plans with powerful, versatile incentive technology will ensure you’re working with a marketing tool that improves your business in several areas.
An incentive program without a powerful “voice” doesn’t do you much good. Incentive program providers worth their salt understand this and offer incentive solutions with communication tools and marketing strategies to go with them.Your incentive communication tools should be versatile enough to cover a variety of different participant preferences. With today’s work generation mix larger than it’s ever been, you’ll likely be working with a diverse participant audience with a variety of communication styles and preferences.
The tide of Millennials and Gen Z is rising fast, demanding mobile and online options for both business and customer experiences along with their personal, day-to-day lives. An Adobe study found that 90% of Millennials say they switch devices mid-activity. They expect your online rewards program to be either mobile optimized or available through an app.
On the other end of the spectrum, Traditionalists and Boomers still make up a large portion of the workforce and may prefer face-to-face, mail-out or poster communications. And print communication shouldn’t be dismissed as an obligatory, outdated method of communication. In fact, a recent DashBurst study found that 70-80% of consumers open almost all their snail mail, even if it’s “junk.” They’re also 35% more likely to act right then and there on direct mail vs. emails. Combine this effective call to action with the personalized information you can retrieve from an incentive program participant database, and you have an even more powerful communication medium.
An incentive program is all about showing appreciation to your employees, channel partners or customers. Participants should view it as something exciting that adds value and positivity to their worlds. Adding fun to your program makes it all the more engaging and interesting. As an Incentive Research Foundation study reported, “over half the market us[es] social media to enhance their programs, and over 30% us[e] game mechanics.”
Gamification like trivia, Spin to Win and Scratch Off, give your program that extra, down-time appeal. Competitive salespeople love to see their achievements displayed with features like personalized Leaderboards, which add bragging rights to an already rewarding experience.
A social media and peer-to-peer recognition platform is perfect for team environments, where you want to foster uplifting employee interactions and energize company culture.
No two businesses have identical pain points and goals. Every organization needs to influence different behaviors in order to achieve different goals. Their incentive programs require the right selection of tools and features to meet those needs. Here’s a chart that lays out which incentive program tools are best suited to different program types:
|Sales incentives programs||
|Customer loyalty programs||
|Channel incentive programs||
An incentive company that doesn’t offer you a way to track your incentive program’s performance is failing you. All companies are unique, ever-changing business ecosystems. That means there’s no such thing as an incentive program that earns you the best ROI possible by running on auto-pilot.In order get increasingly better results out of your program, you need incentive technology that continuously tracks program activity and features real-time reports that can be easily exported and interpreted at any time. Visuals, charts and graphs will help you quickly digest program analytics and present them to upper management, if necessary, to prove the program’s earning its keep.
Online incentive programs can be more than just rewards—if you choose the right program provider. When you know what you need to succeed and how to ask for it, you’re much more likely to choose an incentive company that offers solutions in alignment with your marketing and sales goals. This ensures your incentive program company is more than just a provider, but a trusted partner and adviser.
We've Done This Before
Launch in 6-8 Weeks
Millions of Rewards
95% Recommed Us