| Today's business environment has changed
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| | certificates issued and were more than
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| dramatically over the past 10 years, it
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| | twice what the company planned for.
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| can be a tough task to make a sale. Just
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| | (Copyright IMA)Employee Incentives - To
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| being aggressive doesn't cut it any
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| | motivate, retain and reward loyal and
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| longer. Sales skills alone aren't enough
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| | efficient employeesA small retail store
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| to compete when so many new products and
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| | in Maryland, Target Appliance, used
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| services become everyday commodities.
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| | travel incentives. "We introduced our
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| Consumers nowadays are being smart.
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| | first travel incentive for sales
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| You've got to distinctively separate your
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| | employees five years ago," says President
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| business from the competition and lead
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| | Daryl Gamerman, "and since then we've
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| each of your prospects and customers to
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| | only lost staff due to retirement. I
|
| think, 'I would have to be a complete
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| | don't ever have a problem with our sales
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| idiot to do business with anyone else...
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| | people not working hard or volunteering
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| regardless of the price.' They are
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| | for extra work, because they know it will
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| shopping for the best bargains and they
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| | help qualify them for a great
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| all seem to want more than what they paid
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| | trip.Customer Loyalty Incentives - To
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| for. Every industry both online or
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| | build customer loyalty and trustThe
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| offline needs a cutting-edge
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| | Frequent Builders Program at Garco
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| cost-effective powerful marketing tool
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| | Building Systems offered travel awards to
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| that appeals to every kind of
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| | individuals. Since launching the program
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| consumer.Vacation and travel incentives
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| | five years ago, Garco has experienced a
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| are one of the most powerful methods of
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| | 15 to 25% growth rate, compared to an
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| attracting business, retaining profitable
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| | industry standard of 2-3%. In 2000, the
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| clientele, increasing profits, enhancing
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| | company grew a robust 37%. While it's
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| product awareness, improving employee
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| | impossible to measure precisely the role
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| productivity. Businesses that have used
| |
| | that the Frequent Builders Program
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| vacation travel incentives in their
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| | played, "there is no doubt in mind that
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| marketing and promotions have seen at
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| | it helps to build customer loyalty," says
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| least 30% increase in their sales on both
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| | Loomis.Referral Incentives - To develop
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| sides of the buy and sell cycle.
| |
| | contacts or promote referrals.'Refer
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| Companies of all sizes and virtually any
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| | three new customers to our Tanning Salon
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| type of retail, wholesale, manufacturing,
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| | and we will give you a free cruise to the
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| internet, service, distributor or direct
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| | Bahamas or Mexico.' is one example of so
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| sales business will benefit from
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| | many ways to use incentives to get those
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| incentive travel programs.Why use
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| | referrals every company needs.Purchase
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| incentives?Here are some compelling
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| | Incentives - Increase cash flow and
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| reasons why you should consider using
| |
| | obtain money upfront.'Pre-pay a one year
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| incentives:路Knowledgeable and attentive
| |
| | service agreement, you will get a free 7
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| employees account for 80% of the reasons
| |
| | days and 6 nights resort condo
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| consumers feel satisfied, according to a
| |
| | accommodation in the destination of your
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| PNC Bank Corp. survey.路Fewer than one in
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| | choice.' is an example how incentives can
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| four American workers is working at full
| |
| | be used to up sell.Member Perks - Sell
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| potential; half of all workers do no more
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| | new accounts or member ships.'Join our
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| than directly asked, and 75% of employees
| |
| | golf club now and we will send you and a
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| say they could be more effective in their
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| | companion to Las Vegas with airfare and
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| jobs, according to the Public Agenda
| |
| | hotel for free!'
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| forum.路70% of unhappy customers abandon
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| | 'We will send you and a companion to a
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| vendors because of poor service,
| |
| | free vacation for 3 days/2 nights in over
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| according to the Forum Corp.路A 5%
| |
| | 30 destinations when you open a checking
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| increase in customer retention can
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| | or savings account with us.'Encourage
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| increase lifetime profits from a customer
| |
| | responsiveness or trial of product or
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| by 75%, according to the Loyalty Effect
| |
| | service.'Send back our questionnaire, we
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| by Frederick Reichheld.路'Reward and
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| | will send you and a companion to Orlando
|
| retention efforts can produce big dollar
| |
| | near Disney with free hotel and
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| returns.' That's what the Incentive
| |
| | airfare!''We will give you a free 3 day/2
|
| Federation found in a 2003 survey asking
| |
| | night vacation to Orlando when you test
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| hundreds of businesses using incentive
| |
| | drive our all new 2002 Honda
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| travel promotions 'Does Incentive Travel
| |
| | Hybrid.'Improve attendance
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| Improve Sales Productivity and By How
| |
| | Create new markets
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| Much?'What then can we conclude from
| |
| | Foster teamwork
|
| these survey results?The bottom line is
| |
| | Build traffic
|
| loyal customers and productive employees
| |
| | Set appointments
|
| are the foundation of a successful
| |
| | Business gifts
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| business. But to continuously retain and
| |
| | Consumer/User promotionsCash vs. Travel
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| motivate people can be a difficult
| |
| | Incentive?Cash as a motivator is
|
| challenge. Vacation and travel
| |
| | considered an unemotional award and
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| incentives, a proven motivator, will
| |
| | widely over used. It seems that all human
|
| achieve this purpose.Do your incentives
| |
| | behavior stems from one of the brain's
|
| measure up?Today's business environment
| |
| | two hemispheres: the left, which thinks
|
| demands a new breed of incentive
| |
| | in rational, linear terms; or the right,
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| programs. Many companies have already
| |
| | which operates in terms of images,
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| discovered that standard incentives of
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| | emotions, and feelings. When companies
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| just a few years ago just don't cut it
| |
| | offer money as a motivator, they are
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| with the customers as well as the workers
| |
| | addressing performance issues from a
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| in our continuously changing economy.
| |
| | rational, left-brain point of view.
|
| Your choice of incentives have to widely
| |
| | Tangible rewards, however, are often more
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| appeal to your clients' and employees'
| |
| | motivating because they appeal to the
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| wants or desires in order to measure up
| |
| | right brain eliciting images. (Copyright
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| and get results you are looking
| |
| | IMA)On a survey conducted by the Wirthlin
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| for.Hundreds of promotional companies
| |
| | Worldwide Research, a question "How did
|
| offer incentive programs that are
| |
| | you spend your last cash reward?" was
|
| designed to evoke an emotional response
| |
| | asked.
|
| and motivate people to take a positive
| |
| | The following results were gathered:29%
|
| action. It's obvious from industry
| |
| | - Bills
|
| surveys of companies using incentives
| |
| | 18% - Don't remember
|
| that travel is the most widely appealing
| |
| | 15% - Never received cash
|
| incentive where everyone wins. Your sales
| |
| | 11% - Gifts for family
|
| people will close more sales, your
| |
| | 11% - Household items
|
| clients will enjoy an exciting vacation
| |
| | 11% - SavingsThough its value is
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| experience and your business will
| |
| | concrete and while it could be used to
|
| increase its profits.Why use travel
| |
| | purchase a lifestyle award, most likely
|
| incentives?-Travel is considered to be
| |
| | cash will be charged against a pile of
|
| the most effective reward.According to
| |
| | bills or deposited into a leaky checking
|
| the result of an email survey conducted
| |
| | account where it soon ceases to exist.
|
| by CMI, 58% say travel is more effective
| |
| | And with the demise of the cash award
|
| than cash or merchandise. Survey
| |
| | goes the memory of its origin leaving no
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| respondents consider travel to be the
| |
| | trace of psychological branding.Joe
|
| most effective reward. (Incentive Travel
| |
| | Devlin of Mitsubishi Fusco Truck of
|
| Fact Book)"Cash bonuses are necessary but
| |
| | America Inc. quoted, "Cash goes straight
|
| travel is a higher perceived reward,"
| |
| | into people's pockets, and they need it
|
| says Verizon's Porterfield.Additionally,
| |
| | to supplement their salary, but our trips
|
| in a recent survey of American workers,
| |
| | give us the competitive edge. They're a
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| 85% said they were motivated by vacation
| |
| | big part of how we motivate the
|
| travel incentives.-Nothing beats travel
| |
| | salesperson at the dealership that has
|
| for long-term results.In a 2003 Incentive
| |
| | the opportunity to sell more than one
|
| Survey of Buying Practices conducted by
| |
| | product." (Incentive Travel Fact Book)In
|
| the Incentive Federation, survey
| |
| | 1994, Goodyear Tire & Rubber Company
|
| respondents believe that travel and
| |
| | sponsored an incentive campaign to
|
| merchandise awards are remembered longer
| |
| | improve sales of tires. Two groups were
|
| than cash payments. Specifically, 69%
| |
| | formed; one was offered monetary rewards,
|
| strongly agree with this statement.
| |
| | and the other an equivalently priced
|
| (Copyright IPC)Porterfield added, "When
| |
| | selection of merchandise and travel -
|
| people spend their money, it's gone. But
| |
| | related rewards. The group receiving
|
| the recognition that comes from our
| |
| | lifestyle and travel rewards outperformed
|
| travel incentives lives on."-Travel has a
| |
| | the monetary rewards group by nearly 50%.
|
| universal appeal and high-perceived
| |
| | This was the first documented evidence
|
| value.USA Today, on their recent survey,
| |
| | that cash, as a motivator, is not as
|
| stated that "93% preferred travel over
| |
| | effective as travel or merchandise.
|
| other incentives." This is because
| |
| | (Copyright IMA)Using non-cash incentives
|
| vacation travel is something that some or
| |
| | such as travel will distinguish a
|
| most people would not be able to get for
| |
| | company's campaign from cash compensation
|
| themselves.-Travel is desirable.Another
| |
| | packages. The programs do not become an
|
| question asked on the Wirthlin Worldwide
| |
| | expected part of an employee's income.
|
| Research 2003 survey was "Suppose your
| |
| | Surveys by Incentive Federation show that
|
| employer wanted to reward your work
| |
| | organizations use incentive travel
|
| performance. What would you find most
| |
| | because it creates lasting memories for
|
| rewarding?"88% - indicated a trip they
| |
| | the participants and generates positive
|
| plan and take with a companion to the
| |
| | buzz throughout the organization. Because
|
| destination of their choice5% - indicated
| |
| | they do not have an impact on
|
| a trip planned for them and a companion
| |
| | compensation, it's easier to use
|
| of choice with their co-workers5% -
| |
| | incentives as needed without creating the
|
| indicated a trip planned just for them
| |
| | impression that people are getting pay
|
| and their co-workers-Travel has a
| |
| | cuts when no program is in gear.
|
| promotion value.A more exciting and
| |
| | (Copyright IPC)Join hundreds of other
|
| memorable program can be built with
| |
| | companies like:
|
| travel than you can with cash.Do travel
| |
| | Car Dealers
|
| incentives work?According to the 2003
| |
| | Banks
|
| Incentive Travel Facts survey, travel
| |
| | Manufacturers
|
| incentives increase sales by an average
| |
| | Real Estate Brokers
|
| of 15%. In addition, half of the
| |
| | Service Providers
|
| respondents reported that travel
| |
| | Credit Card Companies
|
| incentives meet 75% - 99% of their
| |
| | Public Speakers
|
| objectives. (Incentive Magazine)Where can
| |
| | Furniture Retailers
|
| I use travel incentives for?Sales
| |
| | Mortgage Lenders
|
| Incentives - To increase salesIn a May
| |
| | Sports Organization
|
| 1998 Promo Magazine special report, it
| |
| | Insurance Companies
|
| was noted that LifeUSA attracted new
| |
| | Jewelry Stores
|
| agents and sent sales soaring by
| |
| | Non-profit organizations (fundraising,
|
| abandoning its annual cash incentive
| |
| | etc.)And more...that have discovered the
|
| program for a more inclusive campaign
| |
| | positive impact of incentive travel in
|
| that gave out merchandise and travel. By
| |
| | their business.Lynne Gabriel is the owner
|
| the program's conclusion, policy
| |
| | of and has been in business since 2001.
|
| enrollments exceeded LifeUSA's initial
| |
| | Visit for more.
|
| goal by 700%. There were 10,000
| |
| |
|
