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![Premiums [pree-mee-uhm] noun 1. a prize, bonus, or award given as an inducement, as to purchase products, enter competitions initiated by business interests, etc. 2.a bonus, gift, or sum additional to price, wages, interest, or the like.](https://image.slidesharecdn.com/moshow-whypremiums-111013170518-phpapp01/75/How-to-Make-Money-in-Premiums-Incentives-and-Recognition-3-2048.jpg)
![Incentives in·cen·tive [in-sen-tiv] noun 1. something that incites or tends to incite to action or greater effort, as a reward offered for increased productivity.](https://image.slidesharecdn.com/moshow-whypremiums-111013170518-phpapp01/75/How-to-Make-Money-in-Premiums-Incentives-and-Recognition-4-2048.jpg)
![Recognition rec·og·ni·tion [rek-uhg-nish-uhn] noun 1.an act of recognizing or the state of being recognized . 2.the identification of something as having been previously seen, heard, known, etc. 3.the perception of something as existing or true; realization. 4.the acknowledgment of something as valid or as entitled to consideration: the recognition of a claim. 5.the acknowledgment of achievement, service, merit, etc.](https://image.slidesharecdn.com/moshow-whypremiums-111013170518-phpapp01/75/How-to-Make-Money-in-Premiums-Incentives-and-Recognition-5-2048.jpg)
![Thank You! Paul Kiewiet MAS 269-806-4489 [email_address] www.create2bgreat.com](https://image.slidesharecdn.com/moshow-whypremiums-111013170518-phpapp01/75/How-to-Make-Money-in-Premiums-Incentives-and-Recognition-61-2048.jpg)
Uploaded byPaul Kiewiet MAS
How to Make Money in Premiums, Incentives and Recognition
This document provides information and guidance for using premiums, incentives, and recognition to generate business and revenue. It discusses the opportunities these programs provide for various departments including human resources, sales, marketing, and operations. Examples are given of incentive programs for employees, salespeople, dealers, and customers that can increase engagement, performance, and profits. The document also outlines strategies for implementing these programs successfully and profitably such as bundling products and services, managing projects for fees, and selling collateral materials.
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How to Make Money in Premiums, Incentives and Recognition
- 1. How to MakeMoney With Premiums, Incentives and Recognition Distributor Day at the Motivation Show Thursday, October 6, 2011 Presented by Paul A Kiewiet MAS CIP CPC
- 2.
- 3. Premiums [pree-mee-uhm] noun 1. a prize, bonus, or award given as an inducement, as to purchase products, enter competitions initiated by business interests, etc. 2.a bonus, gift, or sum additional to price, wages, interest, or the like.
- 4. Incentives in·cen·tive [in-sen-tiv] noun 1. something that incites or tends to incite to action or greater effort, as a reward offered for increased productivity.
- 5. Recognition rec·og·ni·tion [rek-uhg-nish-uhn]noun 1.an act of recognizing or the state of being recognized . 2.the identification of something as having been previously seen, heard, known, etc. 3.the perception of something as existing or true; realization. 4.the acknowledgment of something as valid or as entitled to consideration: the recognition of a claim. 5.the acknowledgment of achievement, service, merit, etc.
- 6. Learning Objectives Whysell premiums, incentives and recognition? What are the opportunities? Who are the buyers? Where do I find the resources? How can I make money at it? What do I need to know?
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- 10. Your Clients AreBuying Them
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- 13. One Stop SolutionIf you can’t solve the problem, they can find someone else who can
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- 15. Opportunities Employee IncentivesSales Incentives Dealer Distribution Customer Service Programs Consumer Promotions
- 16. Employee Engagement IncreasePerformance Satisfaction Retention Improve Culture
- 17. Employee Safety WellnessLength of Service Attendance Productivity Quality
- 18. Sales Incentives IncentivesMotivate Train Activate Accelerate
- 19. Sales New customersSales increase New product intro Referrals Reactivate Calls and follow-up
- 20. Distribution Features DisplaysPreferred Positioning Partnership
- 21. Channel Partners (Dealers,Distributors) (Dealers, Distributors) Dealer Loader Display Enhancer Co-op Advertising Specialties
- 22. Consumer Promotion GenerateTrial Stimulate Continuity Loading Display Features
- 23. Consumer Sales PromotionIn-pack, on-pack, near-pack Sweepstakes or Contest Free or Self-Liquidating Mail-ins
- 24. Who Are theBuyers?
- 25. Human Resources EmployeeEngagement Employee Enrichment Recruiting, Referring and Retention On-boarding and Training Wellness
- 26. Sales Management Incrementalsales pay for the program. No results means No Costs. New skills and habits continue to pay off after the program ends.
- 27. Customer Service Retaining5% more results in 90% higher profits It costs 10 times more to acquire new customers Instill better habits Create great culture
- 28. Marketing, PR, CommunicationsEngaging Customers Building Brands Corporate Social Responsibility Shareholder Relations Media Relations
- 29. Information Technology, Research& Development Research & Development Efficiency Suggestions Breakthroughs New Product Development Cost Savings
- 30. Production, Engineering, Operationsand Finance Operations and Finance Suggestion / Idea Programs Efficiency Increased Production Reduced Costs
- 31. Safety Workplace injurycosts exceeded the combined profits of the Fortune 10 2009 = $225.8 Billion $1,685 per employee Reducing accidents reduces insurance costs too.
- 32. C-Suite Theory andExecution Need strategic partners Identify Business Issues Sell Solutions and Program Results Nobody has a Premium or Product Problem.
- 33. Who Are YouSelling? Demand Fulfillment vs Demand Creation
- 34. Operations and AdminsFocus on pricing Economy of scale and efficiency Vendor on demand Control costs Fix problems Consolidation
- 35. Line Management Timeand price orientation Product focused Implement strategy Implement budget Discuss products Identify cost cutting
- 36. Senior Management Identifynew corporate strategies Assign resources Build and distribute budgets Can shuffle programs Prioritize
- 37. CEO Identify businessproblems Identify business opportunities Create Value Create Vision Focus on legacy
- 38. The Case forIncentives Return on Investment Paid for from Results Saves money Makes money Builds Engagement Builds Culture
- 39. Engagement Results 16%more profitable 18% more productive >2 1/2 X higher growth 37% less absenteeism 60% less quality defects
- 40. Results! 51% lessemployee theft 12% better with customers 62% less likely to have an accident 31% - 51% less likely to leave the organization
- 41. Where do Ifind the Resources?
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- 46. How can Imake money at it?
- 47. Bundling Add ahigh margin product to a low margin product. Gift card in a wallet iPad case with iPad Value-added services such as data capture, gift wrapping, shipping
- 48. Creative and ProjectManagement Charge for creating the theme, copy, artwork, collateral Charge for managing the project Charge for reporting and analysis
- 49. Collateral Sales Websitedesign Brochure design Promotional Products campaign Point of purchase Posters and Banners
- 50. Loyalty Relevance DifferentiationIndispensable Trust Team Transparency
- 51. Volume 1000 pens@ $1.00 each (P) 2 Watches @ $1000.00 each (R) Average order size
- 52. What do Ineed to know?
- 53. The Channel isDifferent Different History Retail v. Event Aspiration Program Orientation Margins Multiple Resellers
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- 55. You Cannot SellOn Price You must sell on Value You cannot compete with Wal-Mart (or Best Buy, or Amazon, or anyone else who buys by the truckload). Service, Results, Convenience, Confidence
- 56. Lower Your ExpectationsUrgency Customization Out of stocks, changing models, seasonality Product literature, websites may not be distributor-friendly. Be prepared.
- 57. Don’t Assume Blindshipping labels No Packing Slips Anything If possible, offer your client special packaging services or gift wrapping so that you can inspect and re-pack.
- 58. Choose Your PartnersYour Premium Reps Incentive Houses PP Channel Committed Open Communication
- 59. Keep it LegalUse of the word “Free” Sweepstakes, Contests and Games of Chance Tax Consequences
- 60. Discover New Worldsof Profit, Relevance, Creativity, and Meaning
- 61. Thank You! PaulKiewiet MAS 269-806-4489 [email_address] www.create2bgreat.com
Editor's Notes
- #3 What happened? How did promotional products distributors become a target market for Incentive Reps? Who are these people? How to you reach them? How do you sell through them? Are You Freakin’ Kiddin’ Me? How do you prospect for them? You’re going to have to pan through a lot of dirt to find Gold!