It’s 2021 and time to consider your New Year’s resolutions for your market research incentive program. Fortunately, you don’t have to start from scratch. Experts have looked at the current trends and made some predictions about what you need to focus on for your 2021 market research incentive program. Market research programs will be looking at updating their technology and reward management platforms. Good program management knows that they need quality technology that is up to date with current trends and able to handle robust program needs. 2021 is the perfect time to reevaluate your market research program technology. With how many ads and sources people have begging for their attention these days, it is harder than ever to attract new panelists and engage current ones. A market research program will have more success if it’s managers know how to engage with their panelists in a personal way and offer rewards that have perceived high value. Peoples’ time and attention is the currency of the day, and you need to make sure you’ve got something worth your panelists’ time. We can’t ignore the impact of COVID-19 and we will likely still be dealing with it through at least the first […]
Tag: incentive program technology
The Key To Retention: Incentives
Use incentives to increase retention. Whether it’s your sales force, partners, research panel participants, or employees, retention is an important part of your company’s strategy. The Bureau of Labor Statistics reported that in 2018, 15.5% of workers chose to quit their jobs, with Millennial workers making up half of those who quit. There are lots of reasons for employees quitting, but with a low unemployment rate, it is a workers job market, and companies have to get competitive in both hiring and retention. Incentive programs are a proven method for retention and acquisition. An incentive program shows your people that you value them and increases their engagement and motivation. According to a study released by Bersin & Associates, there’s a 14% higher rate productivity in companies with incentive programs. Additionally, companies with engaged employees have higher rates of retention. It is worth comparing incentive program technology and management software programs before setting up your new incentive program. To ensure that you’re getting what you need for your program, there are several key features you should look for: To increase the effectiveness of your incentive program, you should have an extensive selection of rewards offerings available to your participants. […]
The Key To Engaging Channel Partners
Channel partner programs seek a mutually beneficial relationship, but like all relationships, there are steps that need to be taken to avoid relationship problems. You want to feel that your channel partners are meeting your needs and your partners want to feel their efforts are valued and appreciated. But how do you keep the profit-producing magic alive in your channel partner relationship? Two words: Incentive Program. Now, not just any incentive program. Just like you wouldn’t buy your significant other jewelry from the dollar store for Valentine’s day, you want to make sure your incentive program shows the value you have for your relationship with your channel partners. A custom incentive program, with the right technology, will not only engage and enthrall your channel partners, but it will increase your ROI and provide valuable analytics for your business. You may be asking, “how will an incentive program help?” We’re so glad you asked. An incentive plan shows your channel partners that you value them and increases their motivation and engagement. A study by Bersin & Associates shows 14% higher productivity in companies with incentive programs. An incentive plan rewards your channel sales partners for completing the goals you set for […]
