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 […]
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 […]
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. […]
The Pros and Cons of Cash vs. Non-Cash Employee Incentives
It’s pretty clear that “given the importance of recruitment, retention, and engagement, incentive programs will be more important than ever.” That’s according to the Incentive Research Foundation (IRF) in a report released earlier this year. They make a compelling case for robust incentive programs to be competitive in the current job market, with “overall incentive […]
The 12 Types of Incentive Programs and How They Work
Back in 2005, economist Steven D. Levitt and journalist Stephen J. Dubner wrote a New York Times best-seller called Freakonomics which “changed the way we see the world.” Before your eyes roll back in your head at the thought of reading a book about economics, let us whet your appetite. Levitt isn’t your typical economist […]
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 […]
Merchandise and Travel Rewards
There’s no reason to simply limit your reward options to cash, though. In fact, we would argue that only offering cash incentives to your employees is a major mistake. While you might think that cash rewards would be the most desirable for recipients, the data actually shows that merchandise and travel rewards provide greater employee […]
Branded Reloadable, Prepaid and Virtual Debit Cards
There are multiple options available to you when it comes to implementing an incentive program. In terms of how rewards are actually delivered, you have lots of options, too. You might choose to simply reward a participant with a check, or by transferring funds into their account via ACH/direct deposit. But as we’ve seen, these […]
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 […]
Employee Behavior: Incentives Within Your Own Organization
When it comes to increasing revenue with third-party salesperson incentives, the scope of what you’re trying to do is fairly narrow. In other words, your end goal is singular and straightforward: You want to increase sales of a particular product or range of products, and you need to incentivize a very specific type of personality […]
