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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Why should I consider merchandise rewards when I already offer cash incentives?
It seems that most people could use cash to pay a bill or a gift card from the hardware store to help ends meet. This removes one aspect of incentive programs though, the staying power of the positive re-enforcement associated to the gift you are giving.
The conventional thought is this: No one points to the illuminated lights overhead and says "I earned this month's electricity for my exemplary performance at work." Most ways that we spend our money are fleeting and forgotten into the background.
In contrast, a nice watch or flat screen television becomes a source of pride for a top performer who will be eager to say "I received this gift for doing a great job." It reminds the recipient each time it is used that their efforts were recognized and appreciated. In the end, this constant reminder continues to positively affect the performance of your staff.
A well chosen incentive catalog can be performance inspiring and meaningful rewards are appreciated for a lifetime.