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5 Signs You Need to Break Up with Your Incentive Company

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Life is too short and your business is too important to waste your time on an incentive provider who isn’t offering you the tools, technology and insights to achieve your objectives. If your incentive company can’t offer you all the advantages of an incentive plan, don’t be afraid to pull the plug on the partnership and look elsewhere!

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5 Signs You Need to Break Up with Your Incentive Company

  1. 1. 5 SIGNS YOU NEED TO BREAK UP WITH YOUR INCENTIVE COMPANY
  2. 2. 1 THE INCENTIVE REWARDS ARE NOTHING SPECIAL. • Your incentive program participants are product-savvy and used to purchasing nearly anything they want online. • The Incentive Research Foundation reported that 99% of incentive program participants have unique reward preferences. • A wide rewards selection that’s varied in value range as well as products and brands, means you can motivate low-performers and middle majority. • Studies show investing in motivating the middle majority has a much greater positive effect on your company than motivating top performers.
  3. 3. 2 INCENTIVE PROGRAM REPORTING AND MEASUREMENT TOOLS ARE LACKING. Without tools to track your incentive program, it won’t succeed. Your incentive company should be able to offer you reports that are: • easy to access • tracking the program in real-time • exportable Reports allow you to identify successful incentive strategies and areas for improvement by gathering data about: • Participants • Engagement • Reward fulfillment
  4. 4. 3 THE INCENTIVE TECHNOLOGY CAN’T SUPPORT COMMUNICATION AND DATA DEMANDS. Here are some important benefits you could be missing out on by using lacking incentive technology: CONSTANT ENGAGEMENT THROUGH MOBILE AVAILABILITY A BEEFED-UP CUSTOMER DATABASE THROUGH INTEGRATION WITH CRM AND OTHER BUSINESS SYSTEMS Delivering an incentive program with mobile optimization, or through an incentive app, is one of the best ways to engage on-the-go participant groups such as sales reps, contractors, etc. The ability to access your incentive program through their phones makes them that much more likely to stay active in the program. By integrating your incentive program with your customer relationship management (CRM) or enterprise resource planning systems, you can gather customer data from incentive program activity and place that data where it’s most useful for you. An incentive company that doesn’t offer you integration technology is keeping you from a steady, managed flow of customer data.
  5. 5. 4 INCENTIVE STRATEGY SUPPORT FROM ACCOUNT MANAGEMENT LEAVES A LOT TO BE DESIRED. The incentive company you work with should: • have their fingers on the pulse of effective incentive strategies • give you useful, actionable expertise on successful incentive plans • interpret your incentive program data and analytics • help you measure progress and track ROI
  6. 6. 5 YOUR INCENTIVE COMPANY DOESN’T UNDERSTAND YOUR INDUSTRY OR YOUR UNIQUE PAIN POINTS. • Many incentive companies focus on business-to-consumer (B2C) incentive strategies and have no have no experience developing incentive plans for complex business-to- business (B2B) customer loyalty and sales motivation demands. • If you don’t feel that your incentive company understands your pain points or your unique position in your marketplace, then it’s time to go your separate ways.
  7. 7. Life is too short and your business is too important to waste your time on an incentive provider who isn’t offering you the tools, technology and insights to achieve your objectives. If your incentive company can’t offer you all the advantages of an incentive plan, don’t be afraid to pull the plug on the partnership and look elsewhere!

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