Page 9 - Peerless Performance Travelers Proposal

NEXT GENERATION INCENTIVES
Beyond
“program” to
enable, educate
and engage.
“Innovation” isn’t only happening in process and IT – it’s also happening in the way companies attract, retain and grow relationships with partners, employees and leaders. The time- tested approach to incentives is quickly shifting to reflect changes in behavior with the goal
of building long term relationships that result in greater profits.
“Do this. Get that.”
For more than two generations, that’s been the model embraced by incentive programs for leading organizations. The “that,” typically takes the form of travel or rewards.
But the concept of motivation and performance is changing. Studies are showing much more sophisticated ways to drive behaviors, tap into emotions and establish the relationships that realize results. It’s no longer just about what the incentive is, but the entire structure of the approach, and how it enables growth.
Customer satisfaction is seldom a competitive differentiator. Based on research by The Harvard Business Review, “across hundreds of brands in dozens of categories, the most effective way to maximize
customer value is to move beyond mere customer satisfaction
and connect with customers on an emotional level – tapping into their fundamental motivations and fulfilling deep, often unspoken emotional needs. On a lifetime value basis, emotionally connected customers are more than twice as valuable as highly satisfied customers. These emotionally connected customers buy more of your products and services, visit you more often, exhibit less price sensitivity, pay more attention to your communication, follow
your advice and recommend you more.” By understanding the customer we can better understand the importance of helping your Produces and Dealer Principals build stronger emotional connections with Your Customers.
Trends and strategies that currently stand out include:
Incentives are becoming multi-dimensional enterprise solutions.
“Incentive” is no longer about occasional, travel, rewards
or compensation. It’s about achieving specific behavioral, performance and results-focused benchmarks, and driving those behaviors, performances and results with meaningful benefits. Those benefits can include travel and experiences, but also tools, training and expertise that improves overall business.
They’re driving more than bottom line results.
Incentive solutions are driving specific behaviors and engagement drivers as analytics understand what employees want, how they work and what makes the difference.
One key example. A focus on Emotional Attachment – how People feel – is quantifiable and addressable. Areas of focus include current state of emotion, optimal state of emotion and what is required to reduce the “Disappointment Gap.” By addressing this, companies can create greater levels of loyalty, fulfillment and engagement to enhance brand loyalty.
9