Smash Your B2B Competition with This Reward Program Research

by | Jul 5, 2016 | Contractor Loyalty, Employee Engagement, Employee Recognition, Loyalty Rewards, Online Reward Programs, Reward Programs

Incentives, Motivation and Workplace Performance: Research and Best Practices

  • Now, a ground-breaking study proves that incentive programs can boost performance by anywhere from 25 to 44 percent, but only if conducted in ways that address all issues related to performance and human motivation.
  • The study found that most organizations lack the knowledge or will to create properly constructed programs that yield desired results.
  • The Incentive Federation determined in 2000 that North American organizations spent approximately $27 billion a year on merchandise and travel incentives. Cash incentives included, the total exceeds $115 billion. But surprisingly, few organizations apply formal return on investment processes or measures to their incentive program design.
  • If selected, implemented, and monitored correctly, incentive programs— with awards in the form of money or tangible awards—increase performance by an average of 22 percent. Team incentives can increase performance by as much as 44 percent.
  • Incentive programs can increase interest in work. When programs are first offered for completing a task, a 15 percent increase in performance occurs. Asked to persist toward a goal, people increase their performance by 27 percent when motivated by incentive programs. When incentive programs are used to encourage “thinking smarter,” performance increases by 26 percent.
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  • Incentive programs that run for a year or more produced an average 44 percent performance increase, while programs running six months or less showed a 30 percent increase. Programs of a week or less yielded a 20 percent boost.
  • All things considered, both employees and managers say they highly value incentive programs. Nonetheless, 98 percent of survey participants complained about their implementation.

U.S. Smartphone Use in 2015

  • 7% of Americans own a smartphone but have neither traditional broadband service at home, nor easily available alternatives for going online other than their cell phone.
  • 64% of American adults now own a smartphone of some kind, up from 35% in the spring of 2011.
  • Smartphone ownership is especially high among younger Americans, as well as those with relatively high income and education levels.
  • 10% of Americans own a smartphone but do not have any other form of high-speed internet access at home beyond their phone’s data plan.
  • 15% of Americans own a smartphone but say that they have a limited number of ways to get online other than their cell phone.
  • 15% of Americans ages 18-29 are heavily dependent on a smartphone for online access.
  • Some 13% of Americans with an annual household income of less than $30,000 per year are smartphone-dependent. Just 1% of Americans from households earning more than $75,000 per year rely on their smartphones to a similar degree for online access.
  • 12% of African Americans and 13% of Latinos are smartphone-dependent, compared with 4% of whites.

Internet Trends D11 Conference

  • Mobile Users Reach to Phone ~150x a Day

Customer Loyalty Techniques For Business to Business Marketing Programs

  • More than half (55.4%) of the surveyed companies currently have a department whose primary focus is on customer retention and loyalty.

Trends in Employee Recognition

  • 88% of organizations (86% in 2011) have recognition programs in place. This appears to be trending back up as the economy recovers.
  • Nearly 70% have both formal and informal recognition programs in place, but formal is still the most common approach, as 24% have formal programs only.

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<strong>About </strong>Luke Kreitner

About Luke Kreitner

Luke Kreitner is the VP of Sales at Incentive Solutions, an Atlanta-based incentive company that specializes in helping B2B businesses accelerate growth, increase sales, motivate channel partners and retain B2B customers.

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