Rewarding Success: 5 Incentive Programs to Boost Performance and Profit

01, Jul 2019


From Elite Rewards & Capitol Marketing Concepts

Incentivizing your staff can increase sales and create an uplifting work environment by rewarding employees for their hard work in achieving the goals you have set for them. A positive and motivational work environment will attract top- notch employees and encourage them to stay for the long run — and create memorable experiences while they invest their time with you.  

Incentive programs can do more than motivate your staff. They can also encourage more purchases from your customers, more referrals from real estate agents and buyers, and better pricing and performance from your suppliers. 

From our experience, here are the top most successful incentives: 

1.Travel.

Companies have used trips to desirable or exotic locations for decades as a way to motivate employees to higher performance. In a study by the Incentive Research Foundation, researchers found that incentive travel helped retain top performers and drove desired behaviors to meet or exceed financial and nonfinancial objectives, plus provided a positive corporate culture and a way to recognize employees. Overall, incentive travel participants tended to perform better and stay with the company longer than other employees. Our programs are built to make employee engagement easy, with automated incentive strategies that inspire staff and promote your company objectives. We also can create travel programs for valued customers and partners.  

2. Rewards and loyalty points programs.

From coffee shops to car washes, loyalty programs encourage repeat sales. Incentive-based marketing, offering travel, points, and merchandise, can be used for an employee program or for real estate agents and mortgage lenders. That’s a big benefit of a loyalty rewards program; you can build it to fit your needs and add anyone to the program.  

3. Gift with Purchase promotions.

Promotions that pair your products or services with a valuable bonus gift are a perennial hit with customers, and often lead to repeat sales. Choose products that will resonate with your customers, such as a package from a local furniture or home electronics store, or gift cards, such as Amazon, Target, Lowe’s, or Visa.

4. Referral programs.

A new home buyer who is willing to refer friends and family members is the best marketing a builder can have. Offering employees incentives for referring prospective job candidates will keep them on the lookout for the best people to join your company.  

5. E-Learning.

Online training that helps your employees increase their knowledge and skills will strengthen your workforce. E-learning helps your business streamline practices and boost employee engagement.

The right incentive platform can maximize revenue and meet your strategic goals, earn your employees’ and clients’ loyalty, and ensure continual sales and long-term success. Elite Rewards & Capitol Marketing Concepts, an incentive and loyalty program company since 1978, can provide your company a tailored program with resources for every phase of your business. Contact Michelle Keierleber at 727-290-2474 or michellek@eliterewards.biz for a consultation.

Rewarding Success: 5 Incentive Programs to Boost Performance and Profit

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