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Not sure where to begin or how to launch your incentive program? Download the FREE 2014 Recognition and Incentive Campaign Planning Guide for tips and ideas on what types of programs could be right for your business and what time of year to consider implementing. No matter the type of business, type of program, or time of year, the 2014 Planning Guide can help you get started today!
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How you can use Prepaid Award Cards to reward, recognize, and motivate employees and customers.
2014 Recognition and Incentive Planning GuideSponsored by smartOne Prepaid
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Introduction 3
Sales Incentives 4 Motivate the team
Customer Appreciation / Seasonal Gifts 4 Celebrate the holidays
Service Awards / Years of Service Milestone Awards 5 Recognize individuals
Customer Recognition 5 Say thank you
Quality Assurance and Safety Awards 6 Reward excellence
Top Customer Program 6 Loyalty programs can pay off
Spot Awards 7 Great morale boosters
Customer Referral Awards 7 Customer advocacy
Health and Wellness 8 Increase productivity
Customer Rebates 8 Attract new customers
What To Look For 9
What’s inside:
This helpful guide is designed to provide you with ideas about HOW, WHEN and WHICH Incentive Programs you can create today, to have a positive impact on your business tomorrow. Plus, you’ll see how Prepaid Award Cards, also known as Prepaid Debit Cards, can fulfill your incentive needs.
Incentive Programs can build loyalty within your business, as well as strengthen goodwill with your customers. Employee and Customer Incentive Programs don’t have to cost your business a ton of money either, but the better you plan and budget, the more effective your Incentive Program can be.
Prepaid Award Cards offer businesses flexibility and convenience for their rewards and recognition programs.
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So when is the best time to start an Incentive Program?
And which programs are right for your business?
Sales IncentivesYou want to provide motivation for your sales team or congratulate team members for achieving sales goals or milestones — incentives are a great way to do that! And everyone appreciates a Prepaid Award Card. Prepaid Cards allow for flexible rewards, because you can determine the denomination of each card to fit your incentive program. Depending on your sales cycle or when you start planning, you can hand out your sales incentives at any time of the year, knowing you’ve already planned and budgeted for them ahead of time.
Calendar Suggestion: Sales incentives may be awarded toward the end of the fiscal year, or after the year has been “closed.” You can make a big presentation at a company meeting or use it as a relationship builder for managers and team members when they hand-deliver the Prepaid Award Card to top performers.
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2014 optimal times to implement program:
A common misconception many professionals have is that Award Programs or Incentive Plans are elaborate and pricey. Following is a wide range of program ideas, with suggestions on optimal times to implement Incentive Programs for your customers or employees.
Customer Appreciation /Seasonal GiftsThink customers tend to return to where they are most appreciated? You’re on the right track! Customer appreciation can lead to customer loyalty, and that can mean repeat and frequent sales for your business. With Prepaid Award Cards, it’s easy to design a Customer Appreciation Program that gives you the opportunity to communicate with customers beyond their purchasing interaction, no matter what the industry. When you create customized, branded Prepaid Award Cards, your company logo is viewed every time the card is used!
Calendar Suggestion: Your Customer Appreciation Program can start at any time, but we recommend instituting your program at the beginning of the year. You can mail out Prepaid Cards for customer birthdays, holidays, or use them as a thank you on a one-to-one basis. If the beginning of the year does not work, make sure you promote the launch of the program and compare frequency / purchases before and after it begins.
Sales Incentives
Sales Incentives
Customer Appreciation /
Seasonal
Customer Appreciation /
Seasonal
Customer Appreciation /
Seasonal
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Service Awards / Years of Service Milestone AwardsWhether it’s rewarding employee performance or recognizing outstanding service efforts, employees value an incentive they can use. While a gift card is nice, a Prepaid Award Card issued by Visa® or MasterCard® offers wide acceptance and spending flexibility so employees can use it for exactly what they want. Planning your Employee Service Program is easy — simply choose the dollar amount you would like to load onto a Prepaid Award Card and you can pass the cards out at a staff event or on the day of their employment anniversary.
Calendar Suggestion: Your Service Program can be set up as a quarterly incentive, or throughout the year as a motivational tool for your employees. Years of service can be recognized at quarterly meetings or at the end of the fiscal year.
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2014 optimal times to implement program:
Incentive Programs don’t have to be complicated, but they should be consistent to be most effective. Knowing ahead of time when you plan to distribute incentives and for what occasions can greatly impact the success of your incentive initiatives.
Customer RecognitionCustomer recognition is easy and can fit any size business or budget. Imagine if you got a $5 Prepaid Award Card that had a picture of a cup of coffee on it from your favorite retailer. It’s got a note that says, “Enjoy a cup of coffee on us … or whatever you like!” That would be exciting because you could use the reward for anything you want, and you would make an instant positive association with the company that made the gesture to reward and appreciate you. But not all prepaid card issuers allow you to personalize your Award Card, so go with one that offers card image selection and message customization!
Calendar Suggestion: If you have customers, clients or contractors, you can quickly set up a program that helps you build loyalty by recognizing the tenure of those who support your business. Customers value VIP treatment and recognize when they receive a genuine reward of appreciation. You can start this program immediately — or institute it as you roll into the new year.
Service/ Milestone
Service/ Milestone
Service/ Milestone
Customer Recognition
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Customer Recognition
Quality Assurance and Safety AwardsWhen your employees exceed quality or safety standards, reward their hard work and let them know their dedication is valued. Industries such as manufacturing, delivery of goods, installation of hardware, or any industry with quality and safety regulations can all take advantage of safety and quality awards. This can lead to increased efficiency, productivity, and a safer work environment.
Calendar Suggestion: Even if you don’t have your Quality / Safety Award Program ready at the beginning of the year, you can implement a new program in the middle of the year. This provides you the opportunity to assess benchmarks of where you are and set goals for where you want to be by the end of the year.
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The beauty of Prepaid Award Cards is flexibility — flexibility for your company to issue incentives anytime and in any denomination, as well as flexibility for the Award Card recipients (employee or customer) to use where and when they want.
Top Customer ProgramWhen customers reach a certain purchase level, or when they reach an exclusive VIP customer status with your company, you can celebrate their prestige with a Prepaid Award Card. Hospitality, manufacturing, technology, virtually any industry can benefit from a program that rewards their best customers. And, because you’ve chose to reward them with a Prepaid Award Card, they have the flexibility to use it just about anywhere.
Calendar Suggestion: Many businesses take advantage of reaching out to and communicating with their customer base around holidays. Think creatively to align your business with a certain celebration during the year. Whether it’s Valentine’s Day, Independence Day, or Arbor Day, this can be a great time to start your Top Customer Recognition Program. You can tie the program to any holiday or event, or even create your very own “Customer Appreciation Month.”
Quality/Safety
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Top Customer
Top Customer
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Spot AwardsIf you have a way to recognize employees during the day-to-day running of the business, then you’ve already got a Spot Award Program in place. Now you can turn that program (or create a new one) into one that offers a meaningful and memorable reward for outstanding production / performance / service with a Prepaid Award Card. You can start an “employee of the month” award or give managers the authority to recognize employees the moment something noteworthy happens on the spot. You may be surprised at how much your employees will respond to this program and increase their efforts at work.
Calendar Suggestion: Springtime is a perfect time to start a Spot Award Program. No matter where your business is located, there’s a sense of renewal and rejuvenation when spring rolls around. So take advantage of your employees’ re-energized spirits, and capitalize on their new-found motivation by handing out recognition everyone will notice and appreciate.
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2014 optimal times to implement program:
Incentives can give your managers the opportunity to build one-on-one relationships that go beyond a pat on the back when they use Prepaid Award Cards as rewards throughout the year — employees and customers can use Prepaid Cards to get the reward they want.
Customer Referral AwardsA happy customer can be your most powerful advertising tool. When current customers refer new customers, reward them for their effort and advocacy. It’s the perfect opportunity to reinforce their loyalty through a Referral Program driven by Prepaid Award Cards. Prepaid Referral Award Cards are a simple and easy way to build loyalty and drive new business. An email program or online form can help you collect names for a Friends and Family Program, and help you keep track of customers referring the most business.
Calendar Suggestion: The June / July time period has been a successful time to implement this strategy. People are more active and engaged — you might be surprised how open they are to the idea! You can create the Friends and Family Event or for a more B-to-B solution, you can create a Refer-a-Colleague Program. Or depending on the seasonality of your business, it’s especially good to use referral rewards to help boost business during typically slow months.
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Customer Referral
Spot
Spot
Health & WellnessA number of companies today are instituting health and wellness programs to improve the general health of their workforce. When employees meet wellness goals or to help motivate health achievements, you can provide rewards through your Prepaid Award Card Program. Healthier employees tend to be more productive, have better work attendance, and have lower health insurance costs for your company. You can show that your business supports the health of your employees by awarding Prepaid Cards when employees reach their goals.
Calendar Suggestion: A Health & Wellness Program that offers Prepaid Award Cards could be a great way to improve your workplace. Start your program in February / March after the resolutions have been pledged and keep track of goal progress throughout the year. Offering rewards is a great motivational tool.
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Every time your customers and employees use the Prepaid Award Card, they are reminded of where the incentive originated — your company! The opportunity for “multiple touches” is a benefit from Prepaid Cards not offered by other incentives or rewards.
Customer RebatesRebate Programs are a great way to attract new customers. Rebates usually revolve around higher-priced goods, and can work well with new product launches and sales promotions of “hot” items. But the most important part of a successful Rebate Program is the ease of fulfillment. Prepaid Award Cards can be issued in the specific rebate amount, and can save your company time and money — instead of having to process and send checks, cards can be mailed directly to your customers.
Calendar Suggestion: While this depends on your industry and product release schedule, Spring and Summer are typically good times for rebate campaigns, particularly for durable goods sales and new product launches. But remember, whether you want to launch your rebate program in Q2 or Q3, the most important aspect of the Rebate Program is the customer’s ultimate satisfaction.
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Health & Wellness
Health & Wellness
Customer Rebates
Customer Rebates
When it comes to Prepaid Award Cards, you have many choices. But to have the strongest impact with your Incentive Program, here’s what you should be looking for in a provider:
• Card image selection: Want to be remembered as the company or employer who delivered a great reward? Go with a provider that offers custom images on your Prepaid Award Cards — your card recipients will remember your business every time they use it.
• Flexible load amounts: The phrase “one size fits all” should not be part of your Incentive Plan. Choose a provider that allows you to select whatever denomination you want for each of your Prepaid Award Cards.
• Custom messaging: Along with adding your company logo, you should be given the option to add a personal message to your Prepaid Award Cards. It’s your message — let your brand be heard!
Did you know: Companies with Recognition Programs have 31% lower voluntary turnover than their peers with ineffective programs in place.1
In a recent survey, 75% of incentive planners said that when all factors are considered, including costs, impact on recipients and outcomes, Prepaid Cards are the most effective employee rewards they have.2
Creating the most effective incentive program.
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1 Source: http://www.hreonline.com/HRE/view/story jhtml?id=533350829&ss=employee+recognition2 Source: “State of Gift Card Use in the U.S.” Incentive Research Foundation: http://theirf.org/Prepaid-Gift-Cards-in-Incentive-Reward-and-Recognition.6087263.html
smartOne PrepaidSM and the smartOne logo are registered trademarks of Total System Services, Inc. This card is issued by MetaBankTM, Member FDIC, pursuant to license by MasterCard International Incorporated. MasterCard is a registered trademark of MasterCard International Incorporated. This card is issued by MetaBank, pursuant to a license from Visa U.S.A. Inc.
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