ENHANCING RELATIONSHIPS, STRATEGIC GROWTH AND MARKET SHARE THROUGH A CUSTOMER-FUNDED TRAVEL INCENTIVE PROGRAM FOR AN HVAC AND PLUMBING DISTRIBUTOR
Business Issue
Following the lethargic recovery from the great recession, a nationally ranked and independently owned HVAC and plumbing distributor wanted to drive incremental sales and gain market share with an energetic and engaging self-funded travel incentive for their loyal customers and preferred prospects.
Our Solution
Working with our client’s financial and marketing teams, we examined historic sales, GP, and growth potential to develop a meticulous and reasonable goal-setting structure and tracking system. Participants received credit for meeting their personalized goals and earned more credit when they surpassed them.
We created a travel incentive program for each customer and their respective sales representatives and managers. Customers who realized their pre-determined incremental sales growth earned the award. By doing this, the entire program was self-funded. Including the company representatives on the travel experience strengthened the business relationships immensely.
We worked with each company sales rep and manager to create presentations for their customers and prospects. An online performance tracking platform allowed company reps and customers to view daily progress to goal. This fostered engagement between the customers and the sales team. Customers, prospects, sales reps, and managers received monthly electronic reports and updates.
Outcome
The revenue and profit growth for the enrolled participants outperformed non-enrolled participants from the inception of the travel incentive program.
Over a time of five years, the quantity of travel award winners grew from 75 couples to 250 couples.
By establishing an ongoing self-funded travel incentive program, our client has realized real growth and market share gain, a recognized increase in loyalty, and enhanced relationships with their customers and sales team members.
