1)
Set goals. Define what your company wants to accomplish
in concrete terms: increase sales, increase unit volumes, or increase customer
satisfaction levels? Translate the goals into numbers that can be compared
from one time period to another. Are there any obstacles to achieving these
goals, such as volatile market conditions or low employee morale?
2) Decide who you are targeting. Are they consumers, salespeople,
dealers/distributors, or customer service employees? Conduct surveys to
learn more about the demographics, tastes, and lifestyles of these individuals.
3) Determine your budget. After determining the dollar
impact of your program, determine an amount you are willing to invest to
achieve your goal. Surveys by Incentive magazine indicate that companies
invest up to 20% of anticipated incremental sales in the awards, communications,
and training necessary to achieve their goals. The budgetary process should
also consider the tax implications of your awards.
4) Select an attention-getting incentive award. Not only
should you select a travel award that's clearly distinguishable from your
compensation package, but you should select one that will reinforce your
message, fit your budget, and match the tastes and demographics of the target
audience. Remember, the greater the recognition value of your awards, the
greater the impact.
5) Determine who will manage your program.
Will it be an internal resource, or will you use an outside agency like
Montrose Travel? The discipline of incentive travel and motivational travel
involves detailed knowledge of all aspects of travel, not just hotels and
air transportation. An incentive travel expert marshals knowledge of marketing
(to determine audience preferences), site selection, event planning, audiovisual
techniques, team building, social-interaction management, and entertainment.
This is no job for a mom-n'-pop travel operation, nor even for a corporate
travel agent without a division geared to this business.
6) Determine how to track performance and measure
results. Carefully measure the impact of your program against your
objectives. Look at soft as well as concrete measures. What was the value
of the bonding and communication and reaffirmation of shared vision? |
