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

Best Practices

How Much Do Incentive and Reward 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: [...]

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How Effective Are Loyalty Programs at Improving Retention?

How Effective Are Loyalty Programs at Improving Retention? Earlier this year, Research and Markets added the "United States Loyalty Programs Market Report 2022" to their offerings. The full title of the report is: United States Loyalty Programs Market Intelligence and Future Growth Dynamics Databook - 50+ KPIs on Loyalty Programs Trends by End-Use Sectors, Operational KPIs, Retail Product Dynamics, and Consumer Demographics - Q1 [...]

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Do I Need a Web Portal for My Rewards Program?

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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Designing an Incentive or Rewards 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 [...]

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Best 5 Channel Marketing Strategies to Try to Grow Your Business 

Best 5 Channel Marketing Strategies to Try to Grow Your Business You might be asking, what exactly is a channel marketing strategy? The Economic Times defines channel marketing like this: "The term Channel Management [or Marketing] is widely used in sales marketing parlance. It is defined as a process where the company develops various marketing techniques as well as sales strategies to reach the [...]

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7 Reasons Why Customer Retention Is Important for Your Business

7 Reasons Why Customer Retention Is Important for Your Business It's probably not the biggest news flash of the day that holding on to your current customers is easier, cheaper, and all-around better for your business than the alternative. The alternative is what's known as "churn." Churn is the term used to describe the percentage of customers that stopped using your product or service [...]

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6 of The Best Rebate Management Tools and Software Options

6 of The Best Rebate Management Tools and Software Options When it comes to a conversation about rebates, there are lots of controversies online as to whether they're good or bad. According to Consumer Affairs, rebates traditionally have a bad reputation because they're seen as "a hassle to discourage customers from redeeming them." Gary Peterson, an ARS analyst from The Wall Street Journal, claims [...]

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23 of the Most Effective B2B Marketing Strategies for 2023

23 of the Most Effective B2B Marketing Strategies for 2023 It's hard to believe that we are fast approaching the end of 2022 and staring 2023 in the face. And like everything else in the world, the only constant is change. What does that mean for B2B marketing this next year? What changes might you need to make, and where should you focus your [...]

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