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We're All Missourians Now! Managers looking for money for incentive campaigns are hearing a lot of "Show Me."
There are rumblings about economic recovery around the floor of this week's Motivation Show in Chicago, but there also is a general consensus that we have entered a new era of validating business expenses that won't disappear no matter how strong the rebound. More than ever, CFOs are demanding hard evidence of return on investment for incentive programs before approving budgets, Roger Stotz, Chief Research Officer of the Incentive Research Foundation (IRF), told an audience of incentive program designers in a presentation this morning. "To borrow a line from the movie 'The Godfather,' 'It's not personal, it's just business,'" Stotz said. Most companies, however, don't do a good job of measuring the return on their incentive programs, Stotz said. If they measure results at all, it's often softer issues such as building customer loyalty or starting new relationships. Even those companies that measure the return in sales dollars are only getting a part of the impact on their business and need to gauge the impact on non-sales sectors of their business, he added. The IRF has spent more than 20 years creating a better understanding of incentives and identifying trends in their use. A collection of white papers and survey reports are available free on the foundation's Web site (www.theirf.org). The Motivation Show, which features some 2,000 exhibitors showcasing brand-name merchandise and incentive travel destinations that can be used to drive workplace performance, continues through Thursday at McCormick Place in Chicago.
Leadership Lessons for Hard Times A lot has been written and talked about in the past year about the mistakes that sparked the financial and economic crisis. Less attention has been given to what's been done well amid the turmoil. [read the 772-word article] Barry Feasel, General Manager for the Bridgestone/Firestone Affiliated Dealer Sales Channel, says merchandise and travel incentives provide the best traction with his group of independent tire store dealers. [read the 416-word article]
The Best Incentives Are Desirable and Difficult to Duplicate The value of recognizing top performers with non-cash rewards is greatly enhanced by incorporating aspects that are difficult, if not impossible, to duplicate. The "Run With the Bull" winners didn't just get high-end electronics, housewares and sports equipment for finishing tops in the spring sales contest. They grabbed all of that stuff during an adrenaline-inducing, two-minute dash through a warehouse stocked with goodies while their colleagues and family members cheered them on. [read the 300-word article] There's no way to keep workers engaged without a competitive salary, but money often is the most expensive way to motivate people, says author and behavioral economist
Dan Ariely. That left him wondering whether there are aspects of life that would be, in some ways, better without cash.
The Sales Pitch Is Dead - Or Is It? Old-fashioned sales pitches may still work on the Home Shopping Network, but in the B2B world, the sales pitch is timeworn and totally ineffective. Or so says sales and marketing writer Geoffrey James. [read the 418-word article] Think Before Pushing the Send Button Sales teams have embraced e-mail as an efficient and easy way to maintain contact with customers and prospects. [read the 128-word article]
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