We’ve all heard the saying that cash is king—but cash doesn’t always win in the battle between cash and incentive rewards. In fact, the Incentive Research Foundation found in their latest industry outlook that gift card and merchandise non-cash rewards spending increased in 2022. In both North America and Europe, the outlook is positive for 2023. How does the value …
Halfway to the Holidays: Stand out with your rewards strategy
While the season of giving is an important time of the year to recognize your customer and employee relationships—there are many more opportunities year-round to take advantage of. A great reward strategy should do more than just simply “gift”—it should also help you stand out. According to Forbes, since the pandemic, over 80% of corporate gift-givers said gifts have improved …
Transcend transactions. Inspire interactions.
Many of the typical sales rep, partner, or customer reward programs go through the same motions—do this, get that. Send us your email, we’ll send you a gift card. Sell a widget, get a trinket. Your transactions pile up faster than aspen leaves in November, but you might not achieve desired loyalty or sales goals with transactions alone. While it’s …
Drive your loyalty strategy with purposeful communication
Communication plays a vital role in all facets of business, and your loyalty strategy is no different. From emails, to SMS, to platform communications—you need to know who your audience is, where they are, and what they care about. The bottom line—it doesn’t matter how great your incentives program is, if nobody knows about it. Below are a few things …
Updating your incentive travel budget
The trend is undeniable: Demand for travel is incredibly strong. Despite rumblings of recessions and industry-specific layoffs, travel bookings have been running above pre-COVID levels and incentive travel programs are booking well into 2025 and beyond. While many companies try to keep the cost of their incentive travel program flat year over year, steady inflation will gradually eat into the …
Incentivize Learning, Realize Sales Growth
According to the April, 2023 Academic Research in Action report by the Incentive Research Foundation (IRF), US organizations invest more in sales training than they do for any other employee group. The report states that annual investments average over $2,000 per salesperson1, amounting to more than $100 billion each year2. There’s good reason – training can help to align sales …
Customer Appreciation Day is coming up fast. Do you have an appreciation strategy?
According to Gallup, companies that provide an emotional connection with customers outperform the sales growth of their competitors by 85%. Not only can a customer-centric recognition strategy recognize and retain clients that keep your business going—they also have the power to create strong brand advocates to grow your business and meet goals. Easily automate customer recognition with a referral rewards program, …
Integrating health & wellness into your recognition program
Can promoting employee wellness boost overall well-being? A 2019 study conducted by the Incentive Research Foundation (IRF) pointed to a growing body of research demonstrating that promoting employee health and well-being can have a positive impact on company performance. The CDC also says that healthy employees not only have better quality of life, they also benefit from having a lower …
Next Level Spotlight: Teammate of the Quarter 2022 Award Winners
As experts in the employee incentive and engagement industry, we know it’s essential that the strategies we implement for clients are not different from how we celebrate our own teammates. After all, we value every member of our team and the contributions they make. Each quarter, we gather as a team to recognize teammates nominated by colleagues for exceptional performance …
An insider’s journey through 50 years of SITE
It all began in 1973, when a small team of dedicated travel executives met at what was then the Americana Hotel in New York City, with a purpose: to create an association dedicated to advancing the incentive travel industry. That association launched as the Society of Incentive Travel Executives, and later become the Society for Incentive Travel Excellence, or SITE, …
Two Very Different Resorts: One Very Big Thing in Common
When it comes to experiencing a wide selection of great destinations and resorts, I’ve been pretty lucky. Recently, I’ve had two stand-out experiences: Cameron House on Loch Lomond in Scotland and The Resort at Paws Up in Montana. In support of the Incentive Research Foundation (IRF), and as a way to showcase the resort to industry leaders, properties sometimes host …
Recognition & Incentives: What You Need to Know for 2023
No doubt about it, 2022 was a tumultuous year for businesses everywhere. Many companies strategically increased investment in recognition and incentive programs to stabilize their workforces, and to re-connect after long months of COVID separation from colleagues and clients. It wasn’t always easy, though, as market forces and a re-starting economy created challenges never encountered before – Awards? Stuck on …