Federal Way, WA (PRWEB) June 6, 2008
Properly structured and administered, Employee Incentive Awards and Customer Loyalty Programs don't cost your business money, they make you money according to Jerry Vaughn, President of World Voyager Inc. Tough economic times require innovation and creativity. While certainly not new, Incentive Travel Awards and Customer Loyalty programs can provide increased sales, help you retain your best clients and make your business more successful while putting you a step ahead of the competition.
World Voyager Inc. has been extensively involved in working with businesses to design, develop and implement well structured Employee Incentive and Customer Loyalty Programs that produce results. Previously, incentive programs were consolidated with World Voyagers meetings at sea operations at http://www.meetingsonships.com. Recognizing there are fundamental differences in the meeting and incentive businesses, Vaughn decided to launch an independent website at http://www.incentivetraveladvisors.com to better focus on Incentive programs and make it easier for businesses to find helpful information and resources to build a model for their corporation.
Employee Incentive Awards Programs can do a number of things for a business according to Vaughn. Among them are:
•Increase sales and productivity by providing meaningful rewards that have high perceived value.
•Research has shown well designed and executed Incentive Awards Programs can increase sales between 22% and 28% on average.
•They promote loyalty and high morale with employee's which in turn produces a more stable workforce. Reducing costly turnover will improve the bottom line.
•The cost of the award in proportion to the increased sales volume is usually low leading to increased profitability of the company.
Incentive travel programs work because they force companies to take a hard look at their products and services and the way they do business. They help companies identify specific challenges; design a strategy to meet those challenges and motivates key people to accomplish critical business goals. This is particularly important in a difficult and uncertain economic climate according to Vaughn. Many of the best programs have been developed in tough times when companies look outside the box to find ways to effectively respond to these challenges.
Customer Loyalty Programs can build business, promote increased customer loyalty and bolster your bottom line. A mere 5 % increase in customer retention can result in a 75% increase in customer value according to Fred Reichheld, author of "Loyalty Rules". This is an important reason to focus on building customer loyalty. A well structured and publicized customer loyalty program with key clients can stave off competition from new businesses entering the marketing area.
In addition to useful information found on the website http://www.incentivetraveladvisors.com, consulting services are available to assist companies in developing successful programs unique to their industry and company. Programs are designed to be highly personalized to the unique culture of the business, the objectives being sought and the personnel impacted by the program.