Companies Use Incentive Programs for a Variety of Reasons.
Companies Use Incentive Programs for a Variety of Reasons.
The first thing a company should do is decide what type of incentive program they would like to offer. Popular ones are travel and vacation incentives especially ones featuring exotic locations or events, cash bonuses and customer rewards.
When a company decides to use an incentive program they need to decide if a direct incentive suits their company or if their needs would be better suited with an indirect incentive program. A direct incentive program is one where the customers receive the incentive directly from the company. This type of incentive is normally used when a company decides to offer something that relates directly to the product they sell. It is normally seen in the form of coupons, rebates, buy get one free specials, and product discounts.
The other incentive program some companies use is an indirect incentive. This type of incentive program is used when a company goes out side the company and involves a business that is not related to the product they sell.
The key to a successful company incentive program is to have a good management. Create a committee of dependable employees whose soul responsibility the company’s incentive program. Decide which of your employees has the best qualification and make them the program coordinator, this will be the person that answers any questions and signs any necessary paperwork. Establish a budget. Get your employees involved. Employees are also customers; they also have a vested interest in making sure the product sells. Keep tabs on the program. You don’t want to find out that it’s not the success you thought it would be when it's too late. By checking on the project regularly you will be able to make necessary adjustments.
When running a company incentive program be prepared for things to go wrong. Murphy’s Law is always ready to wreck havoc on the best laid plans. When it comes to company incentive plans shipments can run late, companies can go belly up without warning. Marketing can fail. Be prepared, have a back up plan and a plan to back up the back up plan.
With a lot of forethought, a reasonable budget, and the right management a company incentive program will boost sale figures, improve customer loyalty and increase product exposure.
Companies Use Incentive Programs for a Variety of Reasons - To learn more about this author, visit Sheryl Strasser's Website.
Like this article? Share it with your friends
A successful customer incentive program will increase customer traffic to the company’s stores and websites.
The first thing a company should do is decide what type of incentive program they would like to offer. Popular ones are travel and vacation incentives especially ones featuring exotic locations or events, cash bonuses and customer rewards.
When a company decides to use an incentive program they need to decide if a direct incentive suits their company or if their needs would be better suited with an indirect incentive program. A direct incentive program is one where the customers receive the incentive directly from the company. This type of incentive is normally used when a company decides to offer something that relates directly to the product they sell. It is normally seen in the form of coupons, rebates, buy get one free specials, and product discounts.
The other incentive program some companies use is an indirect incentive. This type of incentive program is used when a company goes out side the company and involves a business that is not related to the product they sell.
The key to a successful company incentive program is to have a good management. Create a committee of dependable employees whose soul responsibility the company’s incentive program. Decide which of your employees has the best qualification and make them the program coordinator, this will be the person that answers any questions and signs any necessary paperwork. Establish a budget. Get your employees involved. Employees are also customers; they also have a vested interest in making sure the product sells. Keep tabs on the program. You don’t want to find out that it’s not the success you thought it would be when it's too late. By checking on the project regularly you will be able to make necessary adjustments.
When running a company incentive program be prepared for things to go wrong. Murphy’s Law is always ready to wreck havoc on the best laid plans. When it comes to company incentive plans shipments can run late, companies can go belly up without warning. Marketing can fail. Be prepared, have a back up plan and a plan to back up the back up plan.
With a lot of forethought, a reasonable budget, and the right management a company incentive program will boost sale figures, improve customer loyalty and increase product exposure.
Companies Use Incentive Programs for a Variety of Reasons - To learn more about this author, visit Sheryl Strasser's Website.
Like this article? Share it with your friends
 | |
 |
No article feedback found. |
| |
Leave Your Feedback |
 | |
| |||
Dave KurlanDave Kurlan is the founder and CEO of Objective Management Group, Inc., the industry leader in sales assessments and sales force evaluations, and the CEO of David Kurlan & Associates, Inc., a consulting firm specializing in sales force development. Dave has been a top rated speaker at Inc. Magazine's Conference on Growing the Company, the Sales & Marketing Management Conference and the Gazelles Sales & Marketing Summit. He has been featured on radio and TV, including World Business Review with General Norman Schwarzkopf, in Inc. Magazine, Selling Power Magazine, Sales & Marketing Management Magazine and Incentive Magazine. He is the author of Mindless Selling and Baseline Selling – How to Become a Sales Superstar by Using What You Already Know about the Game of Baseball. He created and wrote STAR, a proprietary recruiting process for hiring great salespeople, and he writes Understanding the Sales Force, a popular business Blog and is a contributing author to The Death of 20th Century Selling and 101 Great Ways to Improve Your Life, Volume 2. - Visit Dave Kurlan's Website |
|||
John PowerJohn Power, founder of Biltmore Franchise Consulting, has extensive experience developing and marketing franchises and business opportunities. He has been in and around franchising for over twenty years. From 1980 through 1990 he conceptualized, organized, and developed the American Video Association. He grew AVA to 2,000 national members, before selling the company it 1990. It was later merged into another home video marketing company. From 2000 to 2005 he worked as a contract marketing and human resources consultant to several local and national companies. In 2005 Mr. Power began working as a franchise development consultant on a full-time basis. Since that time he has helped more than three dozen companies initiate and develop their franchising program. He notes that there are many companies interested in developing a franchise program, and who need his specialized assistance. Mr. Power is a “hands-on” franchise consultant. He said, “I am the ‘nuts and bolts’ person who tends to the details for my clients.” Mr. Power holds a B.S. degree with a major in Marketing. See: www.biltmorefranchise.com You may contact Mr. Power at: jpower@biltmorefranchise.co - Visit John Power's Website |
|||
Casey GollanCasey Gollan, Business Coaching & Mentoring Programs. Add $1 Million to $10 Million in the next 1 to 3 years. Since 1996 Casey has to added hundreds of millions of dollars to businesses. Watch a free video see client results Business Coaching website. - Visit Casey Gollan's Website |
|||
Stephanie RobeyStephanie Robey is President and CoFounder of Pivot Positive, LLC - an Internet marketing business focused on helping people start work at home ventures. Previously, she was employed at The Search Agency with over 20 years experience in graphic design and 10 years experience in online marketing. She was responsible for launching the Conversion Path Optimization (CPO) unit where she and her team have conducted hundreds of optimization tests for online companies across multiple verticals. She is a successful entrepreneur having started and sold 2 companies and remains on the board of directors of the third, PhotoSpin.com Stephanie began her career in the direct marketing realm creating and producing direct mail for many of the major cable television companies and directly attributes her understanding of Internet marketing to those early offline experiences. Stephanie is a graduate of San Diego State University with a BFA in Graphic Arts and also holds an Executive MBA from the Graziadio School of Business and Management at Pepperdine University. Read Steph's Blog Meet Steph and Dave Sign up for our Free 7-Day BootCamp: Self Employed & Rich - Visit Stephanie Robey's Website |
|||
David BarrDavid Barr is the President of Venture Opportunities, Inc. David has been a professional business broker/intermediary since 1980 focusing on General Business Brokerage and Mergers and Acquisitions representing client transaction value from $400,000 to $20,000,000. Mr. Barr has handled the sale of over four hundred and fifty companies. David earned a university degree from the State University of New York majoring in economics and business. David holds the Mergers and Acquisition Master Intermediary and the Certified Business Intermediary designations from the International Business Brokers Association. He is also a Senior Business Analyst and a Texas licensed Real Estate Agent. For more information about David and Venture Opportunities, visit www.bizdealmaker.com. - Visit David Barr's Website |
|||
John BrennanJohn Brennan Ed.D. Dr. Brennan is President of Interpersonal Development, LLC, a training and development firm. Interpersonal Development has provided sales training and coaching to more than 3,000 sales reps from over 100 companies. A native of Australia, Dr. Brennan received his doctorate from the University of Rochester. His dissertation researched the effectiveness of Behavioral Modeling Technology in training people in interpersonal skills. While he has spent most of his career designing or delivering training, he was also a Vice-President of Sales of a training and development franchise with operations in 25 markets. Dr. Brennan has designed and delivered sales training in North America, Asia, Europe, Australia and the Middle East. He has been a guest speaker at numerous national and regional professional conferences. When Microsoft wanted Best Practices articles on sales for their web site, they called Dr. Brennan. The results are at http://office.microsoft.com/en-us/FX011387391033.aspx His firm’s clients have included Volvo, The Prudential, Merrill Lynch, Eastman Kodak, Gannett, Equifax Europe, the Economist Group and countless small businesses. - Visit John Brennan's Website |
|||
|
For an online Car Loan Calculator and finance for a cheap car loan. Get approved on car loans or car finance in Australia with cheap bank car loans and finding a car finance broker. Commercial car loans including business car finance and car lease. Car Loan Calculator has information on finance companies and getting the right cheap car loan from banks at best car loan rates and a online car loan calculator for all finance in Australia. Get the best car finance with our help at Car Loan Calculator and Finance Ezi. - Visit Richard Jefferies's Website |
|||
Jay Kubassek(Jay's Full Bio: EvanCarmichael.com/jaykubassek) In five years, Canadian-born entrepreneur Jay Kubassek went from selling mufflers at a Midas franchise to revolutionizing Internet marketing with the 2004 launch of CarbonCopyPRO, a online marketing education company, now worth over $20 million with customers in over 160 countries.
As an independent film producer, his upstart film fund Aliquot Films is currently producing a films with Spike Lee and Abel Fererra (starring Ethan Hawke and Dennis Hopper.)
Jay's entrepreneurial spirit is irrepressible. He’s the owner of five companies, a professional speaker and trainer, international real estate developer/investor, extreme sport enthusiast and emerging philanthropist. Jay resides in NYC with his wife Jamie, son Milo and dog Cooper. Visit Jay's official website: www.JayKubassek.com - Visit Jay Kubassek's Website |
|||
|
To learn more about the Evan Elite Author Program please contact us. | |||
 | |
|  |
Subscribe to Sheryl's articles
 | |
|
|  |
 | |
|
| |
 | |||||||
|
 | ||
 |
||
|
||
 |
||
|
| ||
 |
| Have you written articles that would be of value to entrepreneurs? Become an expert on our site by publishing them! Expose yourself to a wide audience, drive more traffic to your website and get more sales! Click Here for details. |
|
|
 |
| Modeling the Masters: Learn the true secrets behind Walt Disney's business success factors & grow your company! Video produced by Phanta Media |
|
|
 |
"Learn straight from Evan how you can Make a Full Time Income (And More) from a Website"
Click Here To Learn More |
|
|
|
|
Get advice & tips from famous business owners, new articles by entrepreneur experts, my latest website updates, & special sneak peaks at what's to come!
|
|
|
 Women Entrepreneurs Law of Attraction Instant Flyers Customer Retention / Attraction Caprino Career Path Assessment |
|
 | ||
 |
Top 50 SEO Posts - 2008
Top SEO Posts of the Year | |
 |
Top 50 Debt Blogs
Learn To Get Out Of Debt | |
| ||
 | ||||
| ||||
|
| ||||
| ||||
|
|
|
|
|
||||||||||||
|
Email us your ideas on how to make our website more valuable! Thank you Sharon from Toronto Salsa Lessons / Classes for your suggestions to make the newsletter look like the website and profile younger entrepreneurs like Jennifer Lopez and Sean Combs!
|
|
|
