What Are Tiered Incentives, and Why Are They Effective?
It’s common for brands to utilize incentive programs for their sales rep, encouraging their sales team to put their best efforts forward throughout the year. While this is an excellent way to motivate your employees, it’s important not to overlook another key segment in this regard: your customers. One of the most effective rewards programs […]
Navigating Long-Term Incentive Plans: A Beginner’s Guide
In competitive industries, long-term incentive plans can play a critical role in attracting, motivating, and keeping top talent. Rather than focusing on short-term goals, long-term incentive plans are designed to reward employees based on their organizational contributions over a long period of time. Long-term incentive plans don’t just help boost performance, foster a sense of […]
8 Tips and Strategies to Evaluate Your Distributor’s Performance
In order to ensure the success of your business and maintain a strong partnership, you’ll need to monitor and evaluate your distributor’s performance in an ongoing manner. You rely on your distributors to efficiently connect your customers to your products. This means that an underperforming distributor is essentially a weak link that can damage the […]
5 Examples of Group Incentive Programs And Their Benefits
Group incentive programs can help foster collaboration and teamwork, increase productivity and performance, and align team efforts with the organization’s larger goals. While there are countless benefits to implementing group incentive programs, it’s essential that this type of plan is put into place with a great deal of care. For example, there needs to be […]
25 of The Hottest Travel Incentive Destinations of 2023
When offering your employees an incentive reward, it makes sense to choose a program that will actually motivate and excite your staff. But how can you know what type of reward that might be? Business News Daily says, “it’s critical — now more than ever — to keep employees motivated.” A 2018 Cornell University study […]
Dealer Incentive Programs: How They Work and Who Benefits
According to the Cambridge Dictionary, when it comes to business, a good definition of an incentive is “something, especially money, that encourages a person or organization to do something.” One party offers another an “encouragement” to adopt certain behaviors for which they can expect a reward. In general, there are three distinct types of incentive […]
The “President’s Club” Incentive: 12 Things That Set It Apart
Implementing recognition programs can tremendously impact employee performance, helping boost motivation, morale, job satisfaction, productivity, and more. If you’re interested in ensuring that your employees are always ready and willing to go above and beyond, a rewards program can be the perfect thing to meet that end. While there are many different incentive programs, one […]
Does the IRS Tax Customer Rebates, Points, and Rewards?
Mention the Internal Revenue Service (IRS), and it’s not surprising that you get reactions that range from terror to fear and confusion. To say that the U.S. tax code is convoluted is putting it mildly. Even economists and tax experts agree that “The American tax code is a mess.” Is it really necessary for our […]
How to Improve Dealer Relationships With a Rewards Program
Life is all about relationships. And business relationships, just like any other, are no exception. They take work — ongoing communication and a general interest in the other’s well-being. When you’re relying on dealer networks to be a local face and expert for your brand, it’s in your best interests to help them be successful. […]
Incentives for Customers: Rebate Programs
Customer rebate programs are without a doubt one of the oldest forms of incentive marketing. They’ve been around forever, and it’s easy to overlook them as a viable option. They aren’t quite as hyped as some newer approaches to marketing and customer retention, and the word “rebate” isn’t exactly a sexy marketing term. They also […]
