You want to have the best performing employees. Every company does, but just signing a paycheck alone won’t be enough to get you there. Sure, you’ll have the occasional over-achiever, but for most employees, a paycheck is expected compensation for performing basic job functions and it will not connect at a psychological level. If you want to encourage people to exert extra effort you need to engage them. Employee engagement levels have been linked to increased revenue, retention, and performance. Despite this, you might be worrying that you’ll have to shell out massive bonuses to motivate your people. However, Increasing engagement doesn’t have to break the bank. Non-cash incentives such as merchandise, sweepstakes entries, and experiential rewards can go a long way in boosting employee motivation levels. With the right incentive program, you can turn your employees into team members. Incentive programs can create feelings of belonging and increase worker satisfaction. Earning rewards or points for a reward marketplace can give employees a definitive way to measure their performance and drive them to work harder. Produce exceptional results in your companies ROI. Through creating a feeling of belonging among your staff you can instill a sense of company pride in […]
Tag: reward management system
How to Offer a Health and Wellness Incentive that Works
Workplace health and wellness is a huge priority. A Global Wellness Institute (GWI) report estimated that worker unwellness costs the United States $2.2 trillion a year. It is no wonder that over 70% of employers are offering some type of health and wellness program to their workers. Unfortunately, if not executed correctly, employee wellness incentive programs can have only a limited impact. This raises a question: How do companies choose programs that work to effectively create a change in employee health and wellbeing? What Makes A Health Incentive Program Work? Successful health and wellness incentive programs help motivate people to take responsibility for improving and managing their health and fitness. They not only help employees live healthier lives but also improve outcomes for the company, as well. This includes boosting productivity, reducing absenteeism, and decreasing healthcare costs. On a related note, great health and wellness programs demonstrate to employees that their employer cares for them and their families. One of the main factors in deciding if a company was “caring” was whether or not that company offered tangible incentives. This is supported by studies conducted by Johns Hopkins University’s Institute for Health and Productivity Studies (IHPS), which have shown that one […]
The Easiest Way To Motivate Your Channel Partners
Motivation is the secret sauce for success in your channel partner program. The question is, how do you cultivate the motivation your sales force needs? A recent Forbes article outlined six keys to workplace motivation: Set goals Celebrate milestones Provide feedback Empower problem-solving and learning Follow through on promises Experiment and learn Most people will agree that these are all effective ways to motivate people, but how do you put this information into practice? A sales incentive program is an excellent way to apply all six of these motivation tips. In this post, we’ll show you how your new incentive program can implement each of these elements to increase your sales force’s motivation and productivity. Sales incentive programs allow for clear goal setting for your sales force. By offering incentives to your sales force in exchange for the completion of specific tasks or goals, you will increase their motivation and give them clear objectives to work towards. For bigger goals, you can offer individual incentives such as virtual prepaid cards, branded gift card incentives, or travel incentives like cruises and vacation packages. Additionally, with the help of a points-based incentive management solution, you could also give your sales force the […]
Comparing Types of Incentive Programs for 2019
It’s the New Year, and it’s time to consider how you will move your business forward in 2019. You are probably looking at all the new tools available to you and considering all the best solutions to meet your business’s biggest challenges. As you consider these, don’t forget to take a moment to evaluate the benefits of implementing an incentive program for 2019. Simply put, an incentive program is a means of rewarding desired behavior or actions. Incentive programs have a myriad of uses. You could use a sales incentive program to motivate your sales force to improve their performance in 2019. You could start a health and wellness incentive program to promote a healthier workplace. An incentive program could be used for employee recognition or as part of a loyalty marketing campaign. The sky is the limit when considering an incentive program! An incentive program can involve a number of different promotion types. Employees could earn a chance to play an instant win game set up to give them a chance to win virtual prepaid cards or perhaps a family vacation. Another option could be a sweepstakes program to increase customer loyalty and engagement. You could also institute a […]
Acquiring and Keeping Customers Through Incentive Programs
Acquiring & Keeping Customers Through Incentive Programs Every day businesses are trying to find effective ways to acquire and keep customers. Both customer acquisition and loyalty are top priorities for companies everywhere. A customers incentive program can help you meet both goals. Customer incentive programs create loyal brand advocates among your current clients and entice new customers to turn to you. Customer incentive programs can include things like sweepstakes, points-based incentives, instant win games, or point of sale rewards. Each program should be tailored and branded for your company for maximum effectiveness. The type of customer incentive program you choose will depend on your organization’s needs and goals. Each type of program engages customers in different ways to encourage customer loyalty and acquisition. Sweepstakes Sweepstakes programs are a great way to entice customers and generate excitement. Sweepstakes are especially good at bringing in new customers and encouraging engagement. A well-executed sweepstakes program can be an excellent choice for companies. Points-Based Loyalty Programs Points-based customer incentive programs allow your customers to earn points for engaging in behavior your company finds desirable. Using points-based technology, the points can then be spent by the customers on things like travel, e-gift cards, VISA® prepaid […]
Resources For Successful Loyalty Marketing Programs
Resources for Success Loyalty Marketing Programs focus on buyer retention and reward customers for their loyalty. Effective customer incentive programs combined with the right reward management system and the help of loyalty service providers can generate strong financial returns. There are several resources that can increase the effectiveness of Loyalty Marketing Programs. Prepaid Cards Prepaid cards are a favorite among participants in customer incentive programs. Prepaid cards are viewed like cash and can be spent almost anywhere. Loyalty service providers will commonly offer both virtual prepaid cards and physical prepaid cards as rewards for customer incentive programs. Real-Time Triggered Loyalty Messaging Loyalty technology can provide participants with instant, personalized, real-time messages during their participation with your consumer incentive program. These messages can create a highly personalized and improved experience when engaging with your loyalty program. Digital Rewards Digital rewards allow your customers to receive instant recognition for their participation in your customer incentive programs. Compared to physical rewards, which must often be shipped to participants, digital rewards allow customers to enjoy instant gratification. Digital reward vendors, like All Digital Rewards, can outfit your loyalty marketing programs with a wide range of digital rewards from recognized brands for your loyal customers […]
Benefits of VISA Prepaid Cards Rewards
Rewards and incentives programs have proven to be invaluable to companies and organizations around the globe. In the case of customer incentives programs, they can increase consumer visits, spending, and advocacy. With employees, reward incentive programs can encourage employee engagement, increase productivity and improve morale. These are just a few of the many types of rewards and incentive programs that are available. When choosing your rewards for your organization’s incentive program, Visa® Prepaid Card Rewards are a popular reward choice for many different rewards and incentive programs. There are a variety of different benefits to Visa® Prepaid cards that can make them an attractive option, both for companies and consumers. All Digital Rewards has partnered with Visa® to create a comprehensive, customizable, quality prepaid card offering, along with a reward management system capable of meeting your company’s needs. Visa® prepaid cards can be used as rewards for several different programs such as a sale incentive program, customer incentives, and health and wellness rewards programs, to name a few. Participants can use the Visa® Prepaid Card Rewards for point-of-sale or online purchases. Rewards can be loaded onto these cards as they are earned or given to program participants, allowing your program’s […]
How To Create Your Own Loyalty Program
The reason you’re reading this post – is it is likely you are curious about how to launch an awesome loyalty program. And it’s not as complicated as you think – so stop worrying. There are great options out there: Well, if you are looking to spend a lot of money and human resources, the do-it-yourself (DIY) route is where that happens. DIY not only takes a lot of money and time, but it also forces you to invest an enormous amount of time into investigating customer behaviors, UX trends, and the how-tos. You may come up with a truly unique idea for a loyalty program, but it could take months – even years – to complete the process on your own. Unless, of course, you have a whole department of developers focused solely on your loyalty program needs, it’s going to be quite an investment. The first step is looking for an agency with experience working in the loyalty and incentive fields. Agencies can help create custom and attractive loyalty programs. Their expertise is in developing programs from start to finish and managing all the marketing communication surrounding the development. There’s one consideration: How much will it cost. The […]
Loyalty Program Software Comparisons
There sits your sales team. They’re on the phone or in front of a customer, ready to land that big deal. You rely on these people to play an integral role in bringing your products and services to market through a dealer network. But how much does your team know about current offers on the products and services they sell? How do you move special offers through your partner channel to satisfy the objectives of key stakeholders and still rouse your sales team and dealer network? To start with, recognize this is a challenge for any sales channel strategy plan. A channel sales strategy should energize loyalty engagement to spur a business drive to change behavior or, if nothing else, manage them in a specific course of action from educating your partner network about your products and services to helping your sales team close more deals, with you all the while managing the results is real-time. Then again, the loyalty program additionally needs to fit inside a company’s financial constraints and not cause costs that counterbalances the advantage of the channel sales incentive program. A key question for you to consider when developing your strategy is what type of a […]
