In mid 2007, Online-Rewards was asked to be a 'technical expert' for the Cincinnati Business Courier in regards to Incentive Program Technology. Once a month we answered questions related to the implementation of the Rewards Programs. They are reprinted here for your information.
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| 1. There seems to be an increase in the popularity of incentive programs, how do you account for this? |
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| 2. How can I use an incentive program to increase my sales? |
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| 3. How can incentive programs help me retain employees and save money? |
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| 4. How should I calculate my rewards program budget? |
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| 5. Why should I consider merchandise rewards when I already offer cash incentives? |
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| 6. I have a database of loyal customers, how can I leverage this with an incentive program? |
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| 7. How much time should I allocate to running an effective Reward Program? |
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| 8. How do I convince the decision makers in my company that implementing employee programs is a good investment? |
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| 9. What differentiates you from other employee program vendors? |
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There seems to be an increase in the popularity of incentive programs, how do you account for this?
Incentive programs have always been popular among the participants. Who wouldn't love receiving rewards for doing things that they are already inclined to do? What you are witnessing is an increase in the number of companies willing to offer programs. This is due to advancements in technology more than an increase in the effectiveness of programs.
The internet allows for incentive programs to skip the costly print production that traditionally accompanied programs and allows for participants to place and track their own orders. Catalogs can be kept up to date with current product offerings, and for a wealth of statistical reporting is available to justify ROI. More companies can now devote less man power and cost to running programs that increase customer loyalty, help recognize valuable team members and reward exemplary behavior.