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Industry Survey Estimates Incentive Program Impact

IMAThe 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.

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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.

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  • 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.
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  • Access to new technologies from EEA preferred solution providers enabling brands to create their own points-based or transactional redemption site.
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