Best Practices2019-09-09T10:52:13-04:00

Best Practices

Working with a Management Partner

You know why incentives are important, how to design a program of your own, and the nuts and bolts of running programs targeted at both employees and customers. But before you launch a program on your own, you’ve got one last question. Is it worth working with an outside firm? Would it be better to outsource some (or all) of this work, rather than [...]

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What to Look for (and Avoid) in a Bank

Banks and Incentives First things first: Most banks don’t offer custom prepaid and reloadable debit cards. And if they do, they typically don’t offer them for the purposes of offering an incentive program. Sure, there are quite a few options such as American Express gift cards. And if you’re a very small company that isn’t planning to set up a web portal and doesn’t [...]

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Taxes and Incentive Programs

In previous articles we’ve covered virtually every component related to designing, developing, launching, and running an incentive program. We’ve talked about how and why incentive programs work, the various kinds of programs you might consider implementing, how to work with a bank, the ins and outs of web portals, the advantages of partnering with an outside firm, and what it costs to run an [...]

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Program Launch & Rollout

We want to address exactly how you can go about launching your program, along with what the rollout process is and what it ought to look like. The most common type of incentive program that we assist clients with is one that’s targeted at independent dealers and sales reps, and that’s the type of program rollout that we’ll examine in greater detail here. We’ll [...]

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Paying Out Third-party Rewards

One of the most effective types of incentive programs that we’ve seen involves working with channel partners such as third-party dealers and distributors. Why? Well, influencing the behavior of independent sales representatives with traditional means tends to present all sorts of difficulties. They’re not your employees, and you’re not cutting their paychecks. Why should they listen to you? What reason would they have to [...]

Best Practices|

Incentive Program Best Practices

In this our previous articles, we’ve covered: What incentives are The concept of behavior modification Incentive rewards vs. employee recognition ROI of incentive programs Training and orientation Incentives for independent sales reps, employees, and customers Customer loyalty programs Incentive delivery mechanisms including prepaid debit cards, reloadable debit cards, virtual debit cards, and merchandise & travel What to look for (and what to avoid) in [...]

How Much Do Incentive Programs Cost?

When it comes to pricing out an incentive program, there are essentially two types of costs: marginal costs and service costs. Marginal costs are some of the most obvious, and the easiest to wrap your head around in their entirety. Marginal costs include the following: Debit cards: The actual debit cards used in your incentive program, along with their design fees. Card carriers: The [...]

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Do I Need a Web Portal?

Over the years, we’ve worked with a wide range of clients in devising and implementing incentive programs. These clients have come from a diverse range of industries and niches, and their program needs and strategies have varied widely. But one question that we get all the time from our clients, no matter how different they may be from one another, is: Do I need [...]

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Design an Incentive Program

Proper planning is absolutely essential to the success of an incentive program. If you don’t take the time to put together a high-level plan for your entire program, including goals, timelines, expectations, and more, the odds of achieving your intended outcomes are significantly diminished. With that in mind, let’s walk you through each of the most important items to consider when it comes to [...]

Best Practices|