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 [...]
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 [...]
In some of our other 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 [...]
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 [...]
In this article, we want to address exactly how you can go about launching your rewards program, along with what the rollout process is and what it ought to look like. The most common type of rewards program that we assist clients with is one that’s targeted at independent dealers and sales reps, and that’s [...]
We've gathered a collection of tips and best practices from keeping it fresh to keeping it simple, all designed to help you maximize the ROI of your incentive program. This information is most helpful after reviewing our other articles regarding incentive and rewards programs on our website: What incentives are The concept of behavior modification [...]
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 [...]
Banks and Rewards 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 [...]
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 [...]
