Why and How Incentives Work

Favorites Feb 08, 2011 1 Comment

Why and How Incentives Work

Employees and customers are your most valuable assets. Doesn’t it make sense to keep them motivated and happy? Incentive programs provide an effective tool to close more sales, sell more product, drive customer traffic to your online or retail location, set more appointments, increase referrals, retain customers and improve and reward employee/sales performance.

Key Issues

How to get new customers. How to keep good customers and good employees. How to get customers to take action. How to keep them coming back. How to close the deal. How to motivate employees. These are all key issues that directly and significantly affect a company’s bottom line. Our incentive offers can help in all areas of you business. Well-structured incentive programs help define and illustrate goals in simple easy-to-understand ways.

Cost-Effective Solutions

The incentive marketing industry has exploded in recent years as retailers, distributors, wholesalers and employers seek creative and cost-effective motivators for employees and customers. U. S. organizations alone spend more than $100 billion annually on incentive programs. Key findings in recent research studies show that incentive programs:

• Engage participants

• Boost sales

• Boost customer retention rates

• Help reduce overall marketing costs and at the same time increase ROI for marketing   spending

• Travel incentives outperform every other type of consumer incentive offer

• Improve employee performance by up to 44%

Lasting Memories

Studies have shown that travel incentives are most effective. Why? Because they create lasting memories. The United States Travel Data Center shows that 91% of Americans take a vacation every year and the average vacation stay is 4.4 days. AAA reports that 82% of American families drive to their destination.

Share Your Stories

Do you have success stories to share about how incentives benefit your business? Tips to offer? Questions to pose? Feel free to post them here. We would love to hear from you!

One Response to “Why and How Incentives Work”

  1. Reply 9 Steps to Developing an Incentive Program | Grand Incentives Blog says:

    [...] the foundation of the Incentive Program carefully, expanding on the methodology to be used. The structure of the program should detail [...]

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