Incentive program to increase sales

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An incentive program that will give you a 6 to 1 ROI versus cash in increasing sales

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Incentive program to increase sales

  1. 1. Variable Ratio Reward Card  <ul><li>ProPrinters </li></ul>
  2. 2. Variable Ratio Reward Cards  <ul><li>Variable Ratio (VR) Reward Cards  can be used as the awards media in any Performance Improvement Program. </li></ul><ul><li>Instead of issuing & redeeming typical media for incentive programs: </li></ul><ul><ul><ul><ul><li>Award Cheques </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Gift Certificates </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Debit/Credit Cards </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Premiums </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Even Cash </li></ul></ul></ul></ul><ul><li>The media would be VR Reward Cards  </li></ul>
  3. 3. Variable Ratio Reward Cards  (Samples) There are 20 rub off spaces on the front of each card. Beneath 5 of the spaces is the word “WIN”. Participants rub off any 5 spaces. The number of WINs uncovered (and your budget) determines the award!
  4. 4. Variable Ratio Reward Cards  ( Example ) <ul><li>Your Client is introducing a new product. The budget allows $25.00 </li></ul><ul><li>for each “X” ($ or Units) of new product sold through the channel. </li></ul><ul><li>An example of the VR Card  Channel Salespeople could earn is: </li></ul><ul><li> WINs Uncovered Points ($)Value </li></ul><ul><li> 0 2,000 10 </li></ul><ul><li> 1 3,000 15 </li></ul><ul><ul><ul><li>2 5,000 25 </li></ul></ul></ul><ul><ul><ul><li> 3 10,000 50 </li></ul></ul></ul><ul><ul><ul><li> 4 50,000 250 </li></ul></ul></ul><ul><ul><ul><li> 5 Caribbean Cruise 3,500 </li></ul></ul></ul><ul><ul><ul><li>(or 700,000 points!) </li></ul></ul></ul><ul><li>Your fixed cost is $24.94 each, which is the average awards </li></ul><ul><li>value of the card. VR Cards  are invoiced as they are issued. </li></ul>
  5. 5. Variable Ratio Reward Cards  <ul><li>The primary motivational powers of VR Cards  </li></ul><ul><ul><li>J ackpots on Every Card ( VR Reward Cards  are not seeded ; each card has the opportunity for the grand prize award!) </li></ul></ul><ul><ul><li>E very Card is a Winner (No losers) </li></ul></ul><ul><li>You continue to control all award offerings, gross profit and redemption of awards (whether you DIY or go through a Fulfillment House) </li></ul>
  6. 6. Variable Ratio Reward Cards  How They Work <ul><li>VR Cards  use mathematical odds computations that allow for jackpots on each card. Tried and True computations (1/15,500) </li></ul><ul><li>Your cost of the VR Card  is determined by the value of the awards offered on each card. </li></ul><ul><li>VR Cards / Points are redeemed for awards (fulfilled by ProPrinters) </li></ul><ul><li>You control everything </li></ul>
  7. 7. Awards Award Points are redeemed for the top-quality, name-brand items featured in the Awards Selection you offer Earnings on VR Cards can be Redeemed Immediately or Accumulated for Bigger Awards (keeps them wanting to earn more cards!)
  8. 8. Variable Ratio Reward Cards  ( Example ) <ul><li>Your want to focus on a Specific Product or Line during </li></ul><ul><li>the upcoming quarter. Your budget is $15 per “X” </li></ul><ul><li>product sold (or purchased) through the channel. The card could </li></ul><ul><li>look like this: </li></ul><ul><li>WINs Uncovered Points ($)Value </li></ul><ul><li> 0 1,500 7.50 </li></ul><ul><li> 1 2,000 10.00 </li></ul><ul><li> 2 3,000 15.00 </li></ul><ul><li> 3 5,000 25.00 </li></ul><ul><li> 4 30,000 150.00 </li></ul><ul><li> 5 300,000 1,500.00 </li></ul><ul><li>Your Fixed Cost is $14.97 each, which is the average awards </li></ul><ul><li>value of the card. VR Cards  are invoiced as they are issued. </li></ul>
  9. 9. Variable Ratio Reward Cards  ( Example ) <ul><li>You need special focus on Operational Objectives (Safety, </li></ul><ul><li>Quality, Productivity, Cost Containment, Punctuality/Attendance, </li></ul><ul><li>Suggestions, Training, Process Improvements, Recruiting, Health </li></ul><ul><li>Initiatives, CSI Ratings, Sales Support, etc.) Their incentive budget </li></ul><ul><li>is $10.00 per accomplishment: </li></ul><ul><li>WINs Uncovered Points ($)Value 0/1 1,000 5 </li></ul><ul><ul><ul><li> 2 2,000 10 </li></ul></ul></ul><ul><ul><ul><li> 3 5,000 25 </li></ul></ul></ul><ul><ul><ul><li> 4 25,000 125 </li></ul></ul></ul><ul><li> 5 200,000 1,000 </li></ul><ul><li>Your fixed cost is $9.93 each. VR Cards  are invoiced as they are issued. VR Cards can be developed to fit any budget. </li></ul>
  10. 10. Sure Jackpot Winner Cards <ul><li>“ Sure Winner” cards can be distributed </li></ul><ul><li>at the beginning of programs to increase </li></ul><ul><li>participant excitement and enthusiasm </li></ul><ul><li>(they want to earn more!) </li></ul><ul><li>“ Sure Winner” cards are a separate </li></ul><ul><li>budget line item for the jackpot amount. </li></ul><ul><li>All other cards are invoiced @ a fixed </li></ul><ul><li>cost. So your Client can have a fixed </li></ul><ul><li>budget. </li></ul>
  11. 11. Variable Ratio Reward Cards  Client / Prospect Benefits <ul><li>Something Different (a new way to motivate your employees and a Differentiator in your sales channel. They can offer more Luxurious , more Motivating Awards to program participants) </li></ul><ul><li>They have Grand Prize Motivation (at a Fixed Cost) </li></ul><ul><li>Strong Synergy (especially when disbursed in meetings) </li></ul><ul><li>Motivation Plus (if they use any Sure Winners) </li></ul><ul><li>A Major Time Saver (VR Cards can be used for multiple promotions and the winnings on each card accumulated for bigger awards. Strengthens each individual promotion ) </li></ul><ul><li>Easy Distribution (awarded individually or sent bulk) </li></ul><ul><li>They Work (the most powerful motivating factor is proven to be “Variable Ratio Reinforcement”) </li></ul>
  12. 12. Variable Ratio Reward Cards  Participant Benefits <ul><li>Exciting (a jackpot on every card … all they have to do is find it) </li></ul><ul><li>Every Card is a Winner (no losers...some just win more than others) </li></ul><ul><li>High Perceived Value (participants equate the activity with the jackpot - they don’t know your Client’s cost of the card) </li></ul><ul><li>High Integrity (those with the minimum value are encouraged to rub off all the spaces) </li></ul><ul><li>Earnings on VR Cards can be Accumulated for bigger, more expensive awards (and from multiple promotions) </li></ul><ul><li>More Motivating (more luxurious awards can be offered) </li></ul>
  13. 13. Variable Ratio Reward Cards  How We Work Together <ul><li>Sales Support </li></ul><ul><li>VR Reward Card  Training where required </li></ul><ul><li>VR Reward Card  Presentation Development (Assistance with Strategy, Structure and Tactics) </li></ul><ul><li>VR Reward Card  Award Values Development </li></ul><ul><li>(Multiple Examples) </li></ul><ul><li>VR Reward Card  Pricing and Production </li></ul><ul><li>(Out-boarded and shown as part of start-up costs) </li></ul><ul><li>Presentation Support Recommended </li></ul>
  14. 14. ProPrinters Contact Information <ul><li>Derek Miller, President </li></ul><ul><li>ProPrinters. </li></ul><ul><li>25 Laurel Wood Drive </li></ul><ul><li>Lawrenceville, NJ 08648 </li></ul><ul><li>609-844-0088 </li></ul><ul><li>732-309-6550 </li></ul><ul><li>815-352-6633 </li></ul><ul><li>[email_address] </li></ul>

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