Industry Survey Estimates Incentive Program Impact
.png)
The Incentive and Engagement Solution Providers industry group of the Incentive Marketing Association conducted a survey of incentive buyers, solution providers and program design specialists to identify potential impact of well-designed programs.Click here for links to RRN Preferred Solution Providers.
Companies running properly designed sales, channel, and consumer incentive and loyalty programs can expect a 5% to 10% year-over-year revenue lift; a 5% to 10% increase in retention, and a return-on-investment ratio of between 2 to 1 and 4 to 1.
The survey, published in the report, “Establishing Benchmarks: What Kind of Results Can You Expect From Incentive or B2B Loyalty Programs,” included corporate incentive program buyers, industry consultants, and designers within the incentive solution provider community, it states. “Survey participants represented over 500 years of experience and more than 470 programs.” The number of participants was not included.
Study participants identified other benefits:
- Program-related emails are opened and consumed at a much higher-than-average rate than standard email communication.
- Programs create opportunities for two-way dialogue and feedback.
- Market share growth is often difficult to measure but a real potential benefit.
- Loyalty programs help companies enhance cross-selling.
- Programs enhance emotional connections to the sponsoring company over the long-term.
- Advocacy among sales representatives and customers can encourage innovation, service quality and more.
How RRN and Brand Media Coalition: Your Partner in Success in Incentives, Rewards, and Recognition
Published by the Enterprise Engagement Alliance at TheEEA.org
- The only weekly news, how-to and resource publication of record for the Incentive, Rewards, and Recognition field.
- The only marketing agency focusing specifically on the IRR and broader engagement marketplace.
The Industry’s Only Combined Media Platform and Marketing Agency to Help You Expand Your Business 
- All the industry news, research, announcements, and how-to articles read by over 20,000 end-users in sales, marketing, and human resources; incentive, recognition, loyalty and promotional companies, as well as marketing and human resources agencies, seeking to enhance performance through effectively designed incentive programs.
- Unparalleled business development services for engagement, incentive and incentive travel, recognition firms; brands, gift cards and master fulfillment companies, and technology firms, featuring ROI-based business development strategy design and ongoing digital and social media and e-newsletter communications to help marketers profit in the coming era of cookie-less marketing.
- Unique abilities for solution providers to sponsor authoritative, evergreen content directly related to what they sell through the EEA’s Effective Practices series on articles in our media platforms.
- EEA YouTube Channel with over three dozen how-to and insight videos and growing with nearly 100 expert guests.
- Access to new technologies from EEA preferred solution providers enabling brands to create their own points-based or transactional redemption site.
- Unparalleled expertise in program design, return on investment measurement, reporting, and prescriptive analytics.
