Bad Incentives Don’t Work.
Never do incentives alone.
A familiar story, with a twist.
We’re back with another incentive story for the ages.
Last month we shared the two-part tale of Jenny, a participant in an employee sales incentive program, and her experience with some less-than-impressive rewards.
This week, we are flipping the switch to reveal the other side of the incentive program coin: program management and administration.
In hopes of boosting sales and increasing market share, Karen comes up with the idea of an incentive program, taking on the task of building and managing the incentive strategy all on her own. Check out the video below to see how Karen’s story plays out.
Incentives Don’t Work: Administration & Management
The benefits of an incentive program are hard to deny. Companies like Karen’s use incentive programs to address a variety of different pain-points, including:
- A lack of visibility in the channel through which their product is sold;
- An unknown customer base;
- An inability to collect valuable consumer data;
- Failing to communicate with customers effectively; and
- An inability to gain market share over competitors.
Karen’s company is one of the many struggling to stick out in an oversaturated market. Knowing that their competitor has a successful sales incentive program, she decides to take on the task herself.
When it comes to incentive management, the planning process simply cannot be overlooked. Karen becomes inundated with sales invoices, participant inquiries, and requests from management to prove positive results. Without the proper resources, technology, or support, Karen’s efforts ultimately fail, leading her to the conclusion that incentives don’t work.
How Can You Successfully Implement an Incentive Program?
With the help of an experienced incentive provider, of course! From program planning, implementation, management, and upkeep, the right incentive program provider has you covered.
For a brief overview of the steps involved in proper incentive management, check out this blog. Or download this interactive incentive program planning guide for free.
Don’t do incentives alone – give Extu a call at (866) 567-7432.