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 …
Budgeting for Sales Incentives
We’re in the thick of budgeting for the coming year, and quite often we’re asked by clients, “how much should I allocate for incentives this year?” That’s always a difficult question to answer, because the sweet spot in spend for your situation is, well, situational. We look at it like this: if you design your incentive right, it not only …
A Case For Incentives
As You’re Budgeting for ’23, Plan for Incentives Incentives, rewards, and loyalty programs can have a remarkable impact on the success of your business. As we enter Q4 and the planning season or 2023, we’ve outlined some of the key benefits of budgeting for performance-based incentive programs. Focus on sales performance Incentive programs allow you to quickly focus the behavior …
Reward Preferences: Which Rewards Really Motivate?
To succeed, an incentive program must capture the attention of participants and inspire them to do great things. Rewards are key to earning mindshare and achieving results. I serve on the Research Committee of the Incentive Research Foundation (IRF) and we recently completed the Rewards Preferences: Making a Lasting Impact on Incentive Program Participants study to understand which rewards really …
Incentive Travel: Get Ready for a Comeback
COVID-19 vaccines are in distribution. Hotels and airlines are operating with new health and safety protocols. Destinations are opening their doors with clear guidelines. And if the gorgeous hotels and resorts filling my social media feed are any indication, there’s a great deal of pent up demand to get back on the road, or on the beach. Get ready for a comeback! Incentive travel is ramping up.
5 Things You Should Know About Incentive Budgets Now
In a turbulent year, forecasting for recognition and incentive programs can seem challenging. The Incentive Research Foundation (IRF) has just released the Industry Outlook for 2021: Merchandise & Gift Cards study, capturing the changes of 2020 and forecasting for 2021. The outlook is indeed positive – strong financial performance in 2021 is expected by the majority of corporate program owners.
Postponed or Canceled Travel Program? Here’s What You Can Do Right Now.
Postponed or canceled travel program? You still have to reward your top performers or best customers. Here’s what you can do right now.
Beat the Competition: Top Performing Manufacturer Incentives
New research sheds light on Top Performing Manufacturer Incentives. Here are four things you should know.
Three Channel Sales Incentive Ideas, One Turnkey Solution You Can Deploy Today
Customers and channel partners are more important than ever. When you need a solution fast, we’ve got three channel sales incentive ideas you can deploy today and one turnkey solution to make it happen.
Incentive Travel: Why You Need Travel Planners Now
Incentive travel – live or virtual – will have a big part to play in the recovery ahead. That’s why you need an incentive travel planner now.
Three Must-Know Sales Incentive Statistics for 2019
With the new year come new goals, and sales leaders are off and running in pursuit of 2019 numbers. Are you ready for the competition? Here are three sales incentive statistics you should know
Research Indicates Increased Return on Incentive Travel Programs
When it’s time to plan your incentive travel program or to defend your recommendation to senior leaders, it can be challenging to know where you stand. How do you know if your program is on-target, and how it compares to other organizations? In a recent joint study, the Incentive Research Foundation (IRF), SITE, and Financial and Insurance Conference Planners (FICP) conducted the largest incentive travel survey to date and came up with a helpful incentive travel program benchmark.