Incentive Program Launch Study
Incentive Program Launch Study: Why Invest in an Incentive Program when Times are Tough?
Making an economic downturn work in your favor
Economic gloom…with a dash of hope
There is no getting around the fact that the current economic conditions are creating a challenging environment for business managers. The somewhat surprising truth is that recessions (and recession-like downswings) are not rarities – most large companies are never more than 24 months away from a major slowdown somewhere in their organization. The bright side is that we are simply on the down slope of a natural cycle…it will eventually reverse and there will be light at the end of the tunnel.
In 30+ years as an incentive company, Loyaltyworks has witnessed a number of recessions and downturns. We’ve helped many clients manage through tough times by creatively leveraging the capabilities of their incentive and loyalty programs. Drawing on that experience, this article highlights the most effective strategies and insights we’ve acquired on the subject
In times like these, there’s one important fact that often goes overlooked: a recessionary market can present a strong competitive opportunity to companies astute enough to see it – and willing to seize it. This article spells out that opportunity and then outlines a variety of incentive program strategies and tips that we’ve used to help clients:
- Reduce losses when the market slows
- Recover more quickly when things turn around
- Emerge from a downturn in a stronger competitive position
To read the complete 3 page White paper