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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How can I use an incentive program to increase my sales?
Sales incentives take many shapes, depending on the goals and the relationship between the company and the people you wish to incentivize. Sales incentive programs can award salespeople for achieving specific targets or increases in year-over-year sales.These programs offer management a powerful tool for a range of different types of applications.
Dealer or Channel Sales Incentives focus participants on selling specific products or categories of products. They can be used to move slower selling merchandise, or for clearing old stock as new inventory arrives. Route Sales Incentives award your route drivers for new account aquisitions, incremental sales lift or market share growth. Depending upon the availability of details sales data, companies can target the program towards specific individuals, teams, districts or regions. Customer incentive programs can also be used to reward your customers for loyalty or incentivizing them to make specific product purchases.