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What to Consider Before Launching a Loyalty or Incentive Program

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What to Consider Before Launching a Loyalty or Incentive Program

Loyalty and incentive programs are powerful tools. Used effectively they can generate habitual behavioral loyalty, increase sales revenue, decrease customer churn, increase share of wallet and limit variety-seeking behavior.  Many of these results have been empirically tested in academic research and in award winning case studies.

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Employee  Engagement Boost

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Employee Engagement Boost

At Motivforce we have been helping clients to deploy Business Partner-driven strategies in order to improve their performance, agility and profitability. Although this is still core to our business, we also work on a growing interest in measuring the impact of employees on the bottom line. Employees are arguably a company’s most valuable resource, as they are sources of innovation and knowledge and allow for competing through service excellence.

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Effort vs Reward: 7 Things to consider for a successful loyalty program

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Effort vs Reward: 7 Things to consider for a successful loyalty program

A term that we commonly use in channel loyalty and incentive programs is the effort advantage ratio. This is the study of consumer loyalty programs and the effort a participant must undertake to achieve a loyalty program reward and how this effort impacted on attractiveness of the loyalty program for their continued participation. 

These are 7 things to consider when weighing up the Effort Advantage Ratio.

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The Benefits of Rewarding Valuable Leaders in Your Business

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The Benefits of Rewarding Valuable Leaders in Your Business

In designing employee recognition programs, it is imperative to be very specific about the kind of behaviours that you want your associates to display (and get rewarded for). Many of our clients make the mistake of relating their incentives to broad and generic corporate values. Instead, the specs are important, as they make for easier and more transparent reward criteria. Also, do consider recognizing your operational managers. For many customer-facing employees, their supervisor, team leader or store manager is a role model who they look to for guidance on good practice. 

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You need to diagnose the problem before implementing a loyalty program

You need to diagnose the problem before implementing a loyalty program

A loyalty and incentive company has to behave like a doctor – it has to diagnose the problem before implementing the cure. One common mistake that companies make is, instead of making a personal diagnosis, they just copy what their competitors are doing To avoid these mistakes...

Seven tips on building an engaged and loyal social community

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Seven tips on building an engaged and loyal social community

At a Motivforce event held in Sydney, Australia, co-director of Motivforce R&D, Professor Ko de Ruyter presented research on how to best cultivate an engaged social community and focussed on: marketing strategy, customer relationship management, social media and customer loyalty. He used popular culture icon Lady Gaga as an ongoing example throughout his presentation. 

This article was originally posted on crn.com.au
 

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