Why Sales Incentives Work
If you have a sales team of any kind, chances are you’ve implemented some sort of incentive or bonus plan to motivate them. Whether it was cash based (commissions, bonuses, etc.), or non-cash based (trips, prizes, points, or other awards), sales incentives play a large role in the way we motivate our teams.
The type of sales incentives that work best for your team largely depends on your goals. Regardless of the type of incentives you choose, there are many more benefits from a sales incentive program other than simply “improved performance” or “higher sales,” especially when the rewards are not cash-based. Read on to discover the benefits. (more…)
Congratulations 2016 Star Performance Award Winners!
We at Motivation Excellence are dedicated to providing incredible experiences for our clients as well as participants on each and every program we deliver. In order to accomplish this, we partner with only the finest hotels & resorts, destination management partners, and travel support companies in the industry. Our commitment to excellence largely depends on the companies we choose to partner with. (more…)
10 Reasons Why Group Travel Incentives are a Top Motivator & Great for Your Bottom Line
Originally posted on January 17, 2017, and updated on May 16, 2023.
With the pandemic largely in the rearview mirror, Americans are taking to the skies with force. According to the TSA website, passenger levels through April 2023 are in line with the same time frame in 2019. CAPA, Centre for Aviation, reports that corporate travel is gaining momentum in 2023, and leisure tourism is up more than 9 percent over 2019 levels. On the spectrum between traveling for business and traveling for pleasure, you’ll find group incentive travel.
Incentive travel has been steadily climbing since early 2022, with top destination hotels booking up years in advance. The Incentive Research Foundation, in conjunction with the Society for Incentive Travel Excellence and the Financial and Insurance Conference Professionals, found 67% of North American buyers resumed international incentive travel in 2022. Domestic (especially Hawaii) and Caribbean destinations also remain very popular right now. Allied Market Research predicts the global incentive travel market will grow from its 2021 level of $42 Billion to more than $215 Billion by 2031.
There’s a reason incentive travel is making a strong comeback. It works. It’s a great motivator, an aspirational reward, and a perfect balance of building relationships, recognizing outstanding performance and experiencing incredible moments together.
Some of the top industries utilizing incentive travel include healthcare, banking and finance, IT and manufacturing. Why should your business consider this often high-ROI motivator for your sales teams, channel partners, top performers and loyal customers? We’ve got 10 reasons for you!
1. Incentive travel creates a positive emotional connection.
When someone is emotionally connected to your company, they’re more likely to be more productive (employees), think of your product first (channel partners) and be loyal to your brand (customers).
2. It brings people together to celebrate.
We all appreciate the ability to gather now more than we did in 2019. Being recognized for an achievement among other top performers is an esteem booster that continues long after the travel experience ends.
3. It has trophy value.
When was the last time you saw someone post their bonus check on social media? That money usually goes right into the bank account and makes paying for gas and groceries easier, but doesn’t necessarily create a lasting memory. People definitely post their photos of amazing travel adventures and can easily share how they earned it without feeling braggy.
4. It builds trust.
When representatives of your company interact with participants during an incentive travel program, personal connections are made. This can lead to a higher level of confidence in your company and its leadership. Not to mention the shared experiences to reminisce about in future business meetings.
5. It increases loyalty.
Incentive travel winners will feel like they’re “part of the family” of your organization. Gratitude blooms. Loyalty to your brand follows.
6. It’s customizable.
Your travel program itinerary is unique to your company and its goals. You know your culture better than anyone. Building a travel experience that caters to your core values, demographics and participants’ personal interests will make your program a bar-raiser!
7. It’s a great way to promote healthy competition.
Whether you’re awarding the travel incentive to the top 5% or it’s a “hit and win” structure, people will be eager to beat out the competition or outperform their personal best. Often, we hear participants say, “I will do what it takes to earn this award again next year!”
8. It’s cost-effective.
With the correct rule structure, incentive travel programs can pay for themselves, and then some. Factor in the lifelong memories created, increases in loyalty and productivity, and now we’re in the “priceless” territory.
9. Travel has universal appeal.
This is especially true for Millennials, who seem to prioritize travel more than previous generations. And when the cost of travel is picked up, a significant other is included, and there are wow-worthy events accentuating the entire experience, it’s hard to beat it!
10. Having Motivation Excellence as your partner makes it easy!
We know how to Inspire Extraordinary Performance through our award-winning travel programs, performance-tracking platforms, and creative engagement campaigns.
Notice, we never used the word “trip” in this writing. Anyone can plan a trip. We create memorable experiences that are meticulously planned and flawlessly executed. With us as your guide, you’ll enjoy the “before, during and after” even more than your participants!
Now that you have the “Top Ten” list at your disposal, contact us if you’re ready to start down the road to building a successful incentive program (travel, point-based, lifestyle packages, individual travel, personalized rewards). We’re here to start from scratch, or pick up where you left off before the pandemic, and anywhere in between.
Why You Need a Non-Cash Employee Incentive Program
Once upon a time in the years before the internet and social media and people actually stayed at the same company their entire lives, companies didn’t think to worry about employee incentives. Their form of recognition was a lapel pin when employees hit years-of-service milestones, or perhaps a lump sum bonus check for hitting a major goal.
Fast forward a number of years and companies do in fact need to worry about employee incentives. In the wake of the “great recession” of 2008-2009, younger employees are diversifying their skill sets and older workers have learned that loyalty to a company doesn’t always pay off. Today’s CEOs have to consider the fact that their employees absolutely need reasons to stay put – and those reasons better be good.
In addition to a competitive compensation & benefits package, positive working environment, and meaningful work, today’s workforce needs to be rewarded to go the extra mile – without going an extra mile down the road to the next company.[bctt tweet=”Today’s workforce needs to be rewarded to go the extra mile.” username=”motivateme”]
So, what is a modern company to do? (more…)
Improving Retail Lead Generation through Training & Game Cards
Are you struggling with your in-store lead generation volume? You’re not alone.
Not long ago, a large retail brand was seeing a slump in their in-store leads. They were focused on their home services department, where they wanted store associates to start up conversations with customers regarding their home service needs (we’ve all been on the customer side of that, right?). From there, the associate was asked to collect customer information depending on their level of interest.
The problem was that their store associates didn’t seem excited or motivated to increase their leads. (more…)
How to Finish the Year Strong
August and September are critical times for business owners and sales professionals. While the final quarter of the year is quickly approaching, many are also thinking ahead to the following year. It can be difficult to find a balance between focusing on meeting quarterly quotas while also preparing for the year ahead.
Even though preparing for the next year is important, it’s also essential to focus on your current business and close the year strong. Here are some strategies to help you increase your momentum and move into the new year with your best foot forward. (more…)
4 Traits of Successful Channel Incentive Programs
Data-Driven
When it comes to channel incentives and channel loyalty, it’s important to first start with the basics: where are you, and where do you want to go? The first step is to understand where you are, as well as how & why you got there in the first place. Many times, there are patterns in data that can tell you some important things about your business. By taking a closer look at the data, you’re able to identify the issues and then create a solution to fix them.
Personalized
Not all rewards are created equal. All employees have different tastes, preferences, and dreams, and your incentive program should reflect that. Research has shown programs that give employees or reps the ability to choose their own rewards prove to be more effective than those with generic prizes.[bctt tweet=”Not all employee rewards are created equal.” username=”motivateme”]
A points-based system allows participants to earn in a variety of ways while working for something they’ve put on their personal wish list. A step further would be to add a unique travel experience incentive for top performers – an added bonus to go the extra mile and instill competition.
Simple
Simple – to the participant. Success in a channel incentive program starts with high participation, and participation increases when the program is easily understood. This begins with a well-designed program and is amplified with a stellar communications program. When the program is laid out in a way that’s easy to understand, chances are you’ll be more successful from the start.
Attainable
Of course you want your participants to set their sights high. This, if achieved, is a win-win for everyone. But it’s key to make sure the milestones you choose are challenging, yet attainable. A good starting point to understand where challenge meets reality is – you guessed it – in your data.
Going back to your data further drives home our first section: your channel incentive program needs to be data driven, without a doubt. Without using proper business intelligence tools, how will you pinpoint the problems you need to solve?
Remember, the most successful programs are well-designed, crafted with thoughtful development. They are easy to understand, personal, and most importantly, attainable. Because no one likes a goal they’ll never reach.
Need to get started with your data-driven program? Learn more about our approach.
The Critical Piece of Meeting Planning You’re Missing
You’ve done your research, laid out your objectives, and designed your ultimate meeting experience. You’ve planned your accommodations & communications. (or, you’ve hired us to do all of this for you.)
What could possibly be left? (more…)
Welcome to Our Team, Rebecca!
In late June, we warmly welcomed a new team member to the Motivation Excellence family. Below is the press release announcing our newest Business Development Director, Rebecca Steiner.
Rebecca Steiner has been hired by Motivation Excellence, Inc., an engagement and incentive company focused on inspiring people to achieve excellence. Rebecca will work directly with clients developing solutions that will improve business results. (more…)
Designing Your Meeting Experience
2016 meeting trends have shown that people no longer want to sit in a stuffy conference hall and listen to a boring presentation. (But really, is this trending? Who has ever wanted this?)
According to the 2016 Successful Meetings annual poll, nearly two thirds of meetings planners said the “need to create a compelling meeting experience” for attendees was one of the most important trends to follow in order to create effective meetings in 2016. Take your meeting, product launch, or trade show to the next level by following these guidelines.[bctt tweet=”Creating a compelling meeting experience is one of the top trends among meeting planners.” username=”motivateme”] (more…)
