Successful Sales Channel Incentives

Well documented is the fact that incentives and rewards help motivate everyone to perform better, but this is especially true for salespeople. When you have people out there that you have no direct relationship with selling your brand, you want them to be loyal to your brand and you want them to ensure that your customer’s experience is everything that it can be.

Sales channel incentives help achieve all that, but what criteria ensure success? Continue reading “Successful Sales Channel Incentives”

Trends in Incentives

Each year we look towards industry experts to predict what they believe the trends will be for the coming year. One such body is the Incentive Research Foundation (IRF) who continuously monitors activity in the incentives, reward, and recognition markets. This year the synopsis of the IRF forecast is that the overall outlook is positive; gift card popularity is on the rise; and gift card programme spending is also on the increase. While taking various industry predictions into account is important, it’s also important to take a step back and to look at the bigger picture at times – what trends are predicted in the grand scheme of things? In many cases these trends will trickle down and shape niche industries too, so why not zoom out and have a better idea of what may be on the horizon. Continue reading “Trends in Incentives”

Millennials & Rewards

A Gallup report confirmed what many have long suspected, that Millennials (those born between 1980 and 2000) are more likely to change jobs than any other generation. Results from a Deloitte study last year further confirmed this – 38% of South African Millennials said they would only stay with their current employer for up to two years, 30% said two to five years, and only 25% for longer than five years. Millennials now make up the largest generation in America and in South Africa they make up around 35% of the population. Continue reading “Millennials & Rewards”

Keep Rewards Simple – Types of Rewards to Implement

Incentive or reward programmes come in different shapes and sizes and will vary from one company to the next depending on objectives, intent and budget. But whether your business is small or large, if the programme is simple and easy to understand, if the goals are clear and achievable, and if the rewards are valued, your programme will succeed. Keeping things simple is paramount and this applies to rewards also – very often the simplest incentive, and they’re not always monetary-based, can be the most effective. Continue reading “Keep Rewards Simple – Types of Rewards to Implement”

5 Golden Rules to Setting up an Incentive Programme.

The efficacy of incentive programmes is well documented, making it understandable why, according to an Incentive Federation study, 84% of US businesses use rewards to recognise and reward key audiences. South Africa is following suit as more and more companies are implementing incentive programmes to motivate and help improve performance. If this is on your agenda for 2018 consider these five golden rules when planning your strategy. Continue reading “5 Golden Rules to Setting up an Incentive Programme.”