Six Questions to Raise When Hiring an Incentive Management Firm

Growth is one of the main goals of every business. Without growth, the existence of any business makes zero sense.

Typically, when someone talks about the growth and expansion of a business, people believe that customers are the main reason for the profits. However, for effective business growth, the role and efforts of your employees, especially the sales and marketing team, is important, too.

And one of the best ways of setting motivation among your sales and marketing team is by implementing incentive programs. With attractive rewards for their performance, you will not only encourage the team to do better but also pave the way towards substantial sales growth of your business. Besides, by working with an incentive management company, you can influence your buyer’s purchasing behaviour, too.

However, before you go forward and hire an Incentive Service providing firm, you need to ensure if their way of working aligns with your business or not. So, here are some questions to ask before you hire them:

1. Do you understand my business and its goals?

Not every incentive management company is similar. This means every service provider will have different incentive strategies in place. Similarly, their incentive services may differ, too.

For instance, some incentive programs are generated with just B2B business models in mind. While some other may take care of everything from B2B to B2C and others. You must find a service provider who caters for your business model. Ask them if they have expertise working with businesses similar to you. If the answer is yes, then you can stay assured that they will understand and meet your business’s unique challenges and needs seamlessly.

2. What approach do you take for incentives and motivation?

This is yet another important question you must keep in front of the incentive program provider. They must have a potent value proposition, a concise pitch for c-suite administrators as well as an in-depth mission statement that leverages their strategies.

In short, they must know how to tackle problems and issues easily without any setbacks.

3. What range of incentive solutions do you provide?

When it comes to incentive programs, no two companies can rely on one solution. Every business is different, and their needs for incentive solution differs, too.

The incentive management company you wish to work with must offer a variety of solutions. They must be capable of identifying your goals, use a combination of two or more tools, strategies and services in order to meet your needs.

In short, they should offer a custom solution.

4. What type of incentive solution do you offer other clients, what are the results?

Never rely on incentive Management Company that doesn’t believe in transparency.

Since you are ready to invest in their solution for your business, every of your question and request must be taken care of. A reliable incentive management company will never shy away from sharing real-life use cases of their solutions. In fact, they may use the previous client’s success to market you the incentive services. They should explain how they were able of meeting the client’s business needs with documented and proven strategies.

5. Will I have the control of placing the experts in the team?

Even though a reliable incentive management company will have no bad apples in the team, but there is nothing wrong with being upfront with your expectations.

You can always ask if you have any control over creating a team of experts to collaborate on your incentive program.

If the company offer the flexibility of choosing the experts, ensure to work with people who feel like an extension of your own firm. This way, it will be easy to convey your needs and demands easily.

6. Which services are in-house, and what all services do you outsource?

The last yet most overlooked aspect of hiring a service provider is not having the knowledge of how the service provider operates and functions.

Typically a service provider should be self-sufficient in offering the services you are looking for, but there are many firms that outsource certain procedures. Even though outsourcing shouldn’t have a major impact on the result, it is always best to work with companies that offer in-house services. This way, the chances of you suffering from technology, development or participant support problems will be less. And even if there are any problems, the company will be able to tackle them quickly and efficiently without adding to your expenses.

Signing off

With a flawless incentive program in place, your business can observe various opportunities to succeed and grow in both, the short and long term.

So, make sure that you raise the above-mentioned questions in order to hire the best incentive service provider like Altour to experience the benefits to the fullest.

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