Category: Sales Incentives

Sales Incentive programs

When a Plan Comes Together

incentive program planIf you’re old enough to remember the 1980’s television series The A-Team, you probably recall Hannibal, Faceman, B.A., and Murdock always escaping the tight spots they found themselves in.  On the run for crimes they didn’t commit, they survived by hiring themselves out in the defense of average folks fighting some form of local oppression and corruption.  After bringing about deliverance and narrowly escaping the MP’s, Hannibal’s famous “I love it when a plan comes together” line was inevitably delivered.

At QIC, we appreciate a good plan.  Hang around our blog (or us) for any time at all, and you’ll discover that we emphatically appreciate a good plan.

A good plan is critical to mission success.

The Incentive Research Foundation (IRF) agrees that successful incentive and reward programs are the result of good planning and sound program design.  In a recent study entitled “Designing for Successes: Effective Design Patterns for Channel Programs,” several noteworthy design patterns are identified which contribute to effective non-cash recognition and reward programs.

Why is this relevant?  The IRF points out that most U.S. businesses now use non-cash awards.  Top performing businesses (highest growth revenue, customer satisfaction, employee satisfaction) also say executives support their non-cash recognition and reward programs as a competitive advantage.  That being true, as the IRF states, “there is now an imminent need to understand how to create effective incentives and reward programs.”

A recent Incentive Federation study showed that almost half (43%) of businesses used non-cash channel reward programs.  In terms of effectiveness, IRF case studies have shown that non-cash channel programs can increase total revenues by 32%, increase market share by 30%, and increase net operating income to 19% of revenue.  The key is in program planning and design.

Where do you get a good plan?

Take time to read the IRF study, which contains 10 design elements.  We also invite you to read QIC’s channel incentive program best practices guide.  One crucial element given in the IRF study is related to program support and administration.  Top-performing companies are more likely to engage outside partners for their expertise – going beyond their internal silos – to run the program.

Like A-Team voiceover –

“If you have a problem, if no one else can help, and if you can find them, maybe you can hire … the A-Team.”

By the way, we’re available.

A Welcome Message

Today I once again direct your attention to the very useful Marketing Profs newsletter, where a recent entry by Laura Forer entitled The Indispensable Welcome Email [Infographic] caught my eye. This well-constructed infographic highlights the value and impact of effective communications, especially at the start of the business relationship. Regular readers of this blog will… Read more »

Participant Experience: Survey Says …

Our web-based incentive points platform features many modules designed to enhance the participant experience.  Our clients use these to ensure participant engagement and maximize the benefit of their sales incentive or employee recognition programs.  Whether it is the utilization of graphic goal trackers for a sales incentive program or the utilization of badges for “shout-outs”… Read more »

Spotlighting Merchandise Rewards

Small businesses are experiencing high levels of success utilizing incentive programs that feature merchandise rewards, according to a recent IMRA (Incentive Manufacturers and Representatives Alliance) survey/study.  The survey was conducted in partnership with the IRF (Incentive Research Foundation) and focused on companies with between $1 million and $50 million in annual sales. IMRA found that… Read more »

Gamification – Of Leaderboards and Checkers Boards

As I’m sure that our readers know, gamification is a pretty hot topic these days. However, what our readers may not know, or may not have thought much about, is that there can be confusion in the marketplace about the relationship between gamification and interactive games – especially games of chance. Here at QIC, we’ve… Read more »