Moments of triumph are etched into everyone’s memories. Winning the grand final after years of missing out, taking first win a come behind win or holding the Bledisloe Cup. Having these stories or “trophies” on display allows you to share different stories with friends and family, reconnects with those happy memories and feelings time and time again. This is what is commonly referred to as Trophy Value.
In the business world, a successful B2B rewards and incentive program can develop and similar deep and positive influence on one’s relationship with the company they are associated. Recognising effort and a desired reward, it just like receiving the sports trophy, celebrated – they should be a hero for your business.
It is taking these feelings and looking for rewards to truly inspire and engage your recipient, they need to be personal and meaningful. Using a blanket approach with your reward offering won’t have the desired impact on a diverse target audience: two people of the same age and same demographic can be interested in very different things. Giving people a wide range of options can help overcome this and is one of the reasons why point-based incentive programs (coupled with extensive reward catalogues) are popular.
The most successful programs use targeted communications to guide and nudge participants towards individual rewards, thereby helping the program objectives to be reached. Individuals get excited when they can choose rewards that mean something to them, and they’ll put in more effort to achieve those rewards. That’s the definition of win-win for everyone in a program!
In all programs, we recommend that having Trophy Value as a central pillar of the design, shifting the view away for what is the reward, to what can I achieve. This way you can focus on the outcome of targeting desired rewards, with the behavioural or sales efforts required by the participant to earned the rewards.
We know that if a customer has achieved success through a program, then they value the rewards even more and are truly celebrated. Or, valued like a hard-won trophy, that’s going to be emotionally connected. Just like the day, should the Wallabies beat the All Blacks to take back the Bledisloe Cup..