Effective Incentive Program Design
A successful incentive, loyalty or recognition program needs a well thought-out incentive program design. The program’s set-up has to achieve a balance, where the client, participant and solution provider all perceive a desired level of benefit. These three pillars form the basis for what we call “The Balanced Triangle ” of an effective program.
- Generates measurable return for the client that meets their objectives
- Provides compelling, meaningful rewards to program participants
- Becomes sustainable and makes sense to the solution provider
Toward Achieving This Critical Balance, Our Expert Solutions Team Follows A Proven Methodology That:
- Identifies critical business and performance issues
- Pinpoints the group(s) that must be influenced to address those issues
- Determines specific measurable, achievable program objectives
- Establishes reward rules and value propositions
- Addresses communication/promotion strategies and tactics
- Lays out overall scope, deliverables, timelines and pricing
- Determines requirements/processes necessary to develop, launch and manage the program effectively and efficiently
- Models return on investment (ROI ) / return on objective (ROO)
Our clients have found that incorporating this approach to program design also ensures a mutual setting of appropriate expectations for the program.
For more information on our approach to solution design, please call 800-844-5000 or click here to send us a message.