Danskin unveils what he considers the most effective and flexible online sales incentive system available for sales managers, directors and VPs.
As the pressure to find new customers and markets intensifies, alongside the budget crunching and push for doing more with less, the need for comprehensive, yet cost-effective sales incentives grows.
When it comes to rewarding top performers, cash is no longer king. But, most incentive programs are limited in the rewards they offer, or require costly set-up fees. So, the risk is often seems too high.
In my informal research, RewardTrax by Incentive Solutions, Inc. appears to be the best sales incentive solution. With RewardTrax, your program participants can use their earned points to shop for more than 45 million reward items plus travel packages and tickets to events, even sold out events, through an easy-to-use web shopping platform. With that many options, there is something that will motivate everyone.
Another huge upside is there are no set-up fees, no maintenance fees, and you only pay for the points you award. It just appears to be the type of system that fits the current marketplace, providing the most flexibility, while removing cost barriers.
I was impressed with the custom branding capability of the shopping portal and promotional tools. Whether your participants are channel salespeople or your own employees, when they log in to redeem points, or receive html emails promoting aspects of the program, they will see your logo and corporate colors to communicate who is rewarding them, and why.
Statistics show that non-cash rewards can boost performance by up to 44%, according to a study sponsored by the International Society of Performance Improvement and the Incentive Research Foundation. Some of the key findings – incentive programs that lasted at least six months performed better than short-term programs; “most organizations lack the knowledge or will to create properly constructed programs that yield desired results:” and finally, most companies were not formally measuring ROI.
The study’s findings further convince me that database-driven, real-time incentive systems that are capable of producing reports, such as RewardTrax, provide a better solution for organizations to motivate their employees, salespeople and channel partners.
RewardTrax also allows you to develop several simultaneous programs with different objectives. For example, a manufacturer could run programs to encourage safety among plant workers, while running a six to twelve month sales incentive program. You can run integrated sales incentive programs that promote sales of a new product by your sales team at the same time as you motivate your distributor, dealer or retail sales teams.
The facts are clear. Incentive programs work when they are properly created, organized, communicated and sustained over time. Technology has provided tools to ensure that your sales incentive programs and safety incentive programs are easy to implement, administer and measure.
