Incentive Magazine reported that Novo Nordisk, a Danish pharmaceutical firm, just released a new non-insulin drug, Victoza, for the United States market. The drug is for adults with Type 2 diabetes. And, to create an effective marketing and sales campaign, the firm is focusing on an incentive program.
The firm initiated Welcome to Club V, an internet-based interactive platform. Using incentives, such as employee rewards, the program garnered 95 percent of the sales employees into participating in daily questions pertaining to the drug. Upping the ante with a points-based initiative, Novo Nordisk managed to get 100 percent in its team and individual employees to participate in contests. The points earned by employees, whether for answering the daily questions or for competing in contests, can be redeemed on the Novo Awards online mall.
Senior director of diabetes portfolio field marketing for Novo Nordisk Jamie Jones told the news source, “Incentive programs are the primary way that our company is able to encourage the behaviors that are essential to not only successfully launching a product but also sustaining its market share trajectory."
Jones went on to add that the strategy behind the program was to motivate employees to keep doing what was already working, but just do it more effectively through reward incentives. “By encouraging these behaviors, we are building the foundation for successful sales reps. That is why you have incentive programs in place – to push people to give their maximum."
A multi-faceted channel marketing strategy was used for the program; it was based on a nightclub theme and consisted of emails, room drops, and direct mail. Recognizing the firm’s accomplishment and the creativity of its program, the Incentive Marketing Association (IMA) awarded Novo Nordisk the Circle of Excellence Award.
Return on Performance magazine explained that the criteria IMA used to evaluate the candidates included:
- General program objective success
- Suitable incentive selection
- Program innovation
- Effectiveness of communication tactics
- Incentive perceived value
Among four other companies awarded the Circle of Excellence was John Deere Holdings and CVS Pharmacy.
John Deere boosted its dealership sales through a travel incentive initiative. The initiative produced an increase in sales of 97 percent, which went far above and beyond its intended objective of 20 percent. With a Caribbean cruise as the prize, dealers rolled up their sleeves and worked hard for a chance of winning the trip.
CVS in Woonsocket Rhode Island implemented a "Give One Get One" seven-week program. This strategy “rewarded customers who purchased a $25 gift card with a free eGift card.” The ROI for this initiative was 92 percent. CVS also got 13,000 email subscribers in the process.