When starting an incentive program and considering your incentive program strategy, it is important to set the right key performance indicators (KPIs) so that you can effectively measure its success and make any adjustments to your incentive program management practices in the event you aren’t hitting them. Different types of incentive programs will have different KPIs. If you plan out your KPIs prior to the start of your incentive program, it will be easier to measure effectiveness and see areas for improvement. Some common KPIs can include: 1. Incentive Program Enrollment How many members of your target participants are enrolled in your incentive program? Program enrollment is an incentive program KPI worth tracking because, if you don’t have the level of participation your company projected, it may be a sign that your incentive program management strategy needs to be reexamined. Do you have the right rewards that will appeal to your participants? Are you using a delivery method or redemption site that is difficult for them to use? Would adding some excitement through sweepstakes or instant-win games improve things? 2. Sales Increases If you’re running a channel partner incentive program or other types of sales incentive programs, you will want […]

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