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The Latest Incentive Industry Resources & News

How to Improve “Anemic” Sales Results

Wednesday, October 12, 2016

Published by: Online Rewards B2B Channel Incentives

The Wall Street Journal reports that corporate sales profits are down for the fourth consecutive quarter. The attached Business Journal article from Gallup suggests that it's because B2B companies are doing it wrong!

Employee Recognition

Business-to-business firms are focused on increasing market share and ramping up mergers and acquisitions. Gallup recommends that, to help their customers grow and generate more organic growth for themselves, B2B companies must develop a sales strategy that differentiates them.

Gallup quotes CSO Insights, who reports that just 58% of sales reps are meeting their quotas, and 71% of customers are at risk of taking their business elsewhere.

How do we encourage sales reps to become trusted advisors to clients, close more business, and retain more clients? And then how do we ensure that we keep those salespeople who own the client relationship? One proven way is to use sales and channel incentive strategies.

Best-in-Class companies with defined Sales Incentive Programs see a 14.8% higher team quota attainment and 5.9% higher customer retention rate than those who do not use incentive programs to drive performance.

This same study of Best-in-Class companies finds that the companies who outsource the management of incentive programs show higher lead conversion rates (30.4% v. 23.9%) and lower average sales cycles (4.2 months v. 5.3 months).

Best-in-Class firms are also 94% more likely to offer peer-to-peer and public recognition. When internal and external sales partners feel valued and recognized, they are less likely to seek other opportunities.

Are your profits showing signs of anemia? A professionally-designed B2B channel incentive program might be just the transfusion you need to drive sales performance.

Visit Us at HR Tech

Tuesday, October 4, 2016

Published by: Online Rewards Announcements

The thing about the incentive, rewards, and recognition industry is that nothing much has changed over the last several decades. Sure, merchandise catalogs are now online rather than in print, but the process and practice hasn’t changed much at all. Although each company has unique needs and objectives, most traditional incentive programs are "created equal." Traditional companies are still trying to drive outcomes by selling products.

Employee Recognition

Looking for new-but-proven ways to engage employees, customers, and channel partners? Visit Online Rewards at the HR Tech Conference this week in Chicago at Booth # 1059. Look for the large iPad exhibit! See for yourself how fast and easy it is to customize incentive programs that drive engagement through meaningful recognition. Stop by our booth and let's talk about how our program design, development, and advisory services combined with our new technology can help you achieve your specific objectives! Visit us for a chance to instantly win exciting prizes.

Can't attend the conference? Follow along on Twitter for updates throughout the rest of the week!

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