An incentive program must be supported by essential services in order to be successful. HMI offers full-service support from initial data analytics, incentive strategy and program design, to marketing communications, program management, reward fulfillment, and global solutions — we’re a one-stop shop for all your program needs! Our essential services are strategically designed to move the needle and achieve your company’s unique objectives by determining the best way to meet and exceed them.
In today’s world of Big Data, organizations large and small ignore the proliferation of analytics services at their own peril. From crunching sales figures, to making sense of customer demographics, in-depth analysis is more and more frequently becoming the norm as companies seek to extract and utilize key segments of information in order to improve their business. This is a trend is one that knows no boundaries, with useful analytics services continuing to emerge in a variety of industries and serving a diversity of needs.
A successful incentive strategy is developed by studying a company’s organizational and business model, including short- and long-term goals, products and services, target audiences, and prior incentive initiatives. It should be unique to each business, take into account timelines, program structure, projected budgets and the creative, administrative and technological resources that will be required.
Whether your program design includes a group travel, individual rewards, points platform, eLearning, meetings & events, or business intelligence solution, it will require a few basic components: earning structure, rewards selection, program calendar, data and reporting, program brand/theme, and promotional tactics.
When it comes to incentive marketing programs, effective communication is critical. Successful communications help build enthusiasm and excitement, keep participants engaged, establish campaign brand images that build good will and equity, and infuse your program with valuable momentum as the campaign rolls out. Experience has shown that compelling communications between you and your program audience have a direct correlation to capturing both mind share and market share.
Program management shouldn’t end after an incentive program is launched. Dedicated program management means that progress is continuously monitored, timely client and participant assistance is provided, fulfillment and redemption services are delivered, and program updates are continuous. Ongoing management, evaluation and quantification of program engagement allows your business to quantify incentive program performance.
When your customers, salespeople, and employees have the ability to choose how they’re rewarded, be it for continued loyalty or exceptional performance, everybody wins. Understanding your audience demographics will help identify which type of reward will best motivate your audience. It’s just as important that they receive their rewards promptly to ensure maximum satisfaction and ongoing engagement.
The burgeoning global marketplace has created new opportunities to grow business. Unfortunately, it has also introduced new challenges, especially when it comes to driving performance among diverse workforces and international sales channels. However, with HMI’s global solutions, we offer some innovative strategies to help our clients overcome those challenges. HMI has experience in delivering incentive programs worldwide that help you keep remote teams, partners, and extended channels engaged and motivated.