Making Memorable Moments
Recognizing and rewarding people, whether they're top-performing employees, ace sales reps, dedicated channel partners or the most loyal customers, is about so much more than the reward itself. Sure, selecting the right stuff is important—from coveted brand-name merchandise to inspiring trips and escapes. But if you stop right there, you've missed out on a large portion of what makes incentives, recognition and rewards so effective.
Ultimately, it's all about making memorable moments.
For most of us, caught up in the daily grind, months can fly by in the blink of an eye. Sure, spring may be in full swing, but as soon as you turn around, winter will be back. Without the punctuation of powerful and meaningful moments, time just spirals away from us, and we get caught up in that hamster-wheel feeling of never reaching any significant goal.
According to the Incentive Federation, 84 percent of U.S. businesses spend $90 billion annually on award points, gift cards, trips and travel, and merchandise. That's a lot of rewards. But, noted Melissa Van Dyke, president of the Incentive Research Foundation, there are things to be mindful of when it comes to rewards, recognition and incentives.
First of all, who is giving the reward? "That can have a huge impact and either make or break the experience," she said in a feature story in an earlier issue of Premium Incentive Products. In addition, she said, how the reward is communicated is also crucial.
So, the reward experience is really made up of a combination of crucial factors. When you get it right, you make a memory.
This month's issue has a great lineup of stories to help you plan and execute your program, beginning with a close-up look at how digital cameras have evolved. Speaking of making memories, anyone can use their smartphone to take a snapshot, but when you want to preserve a moment in time, cameras are still unmatched, in terms of photo-taking ability. Learn more on page 10.
From there, we turn to gift cards, with a look inside the IGCC and recent trends in using gift cards—both physical and e-format—to reward and motivate. You'll find that on page 16.
On page 20, we turn our sights on evolving strategies for boosting customer loyalty. And finally, on page 24, we examine how setting goals and designing programs effectively is essential to ensuring your program achieves the returns you're looking for.
In between, we cover all the latest news and offer spotlights of products and ideas that are sure to make memories for your program participants.
And don't forget! As the wheel of time keeps spinning you around, it'll be December before you know it. Have you started planning your holiday gifts yet? Stay tuned for our next issue, when we'll offer advice from the experts on effective business gifts, a look at watches, and much more.