Incentive - June 2008 - (Page 78)

50 Top Motivators PAGE 80 Now Hear This PAGE 85 For the second year in a row, Incentive’s editors have selected the 50 hottest incentive merchandise awards These high-end audio products show why the best way to reach employees is through their ears Incentives for Life: Impact and Rewards The New York Incentive, Rewards and Recognition Show Grows in its Second Year By Leo Jakobson and Alex Palmer Carlson Marketing. In his address, simply titled “Brands and People,” Peppers made the case that an organization looking for longterm loyalty must focus on creating the most value from each customer, rather than relying on products themselves to create value. Later in the show, Rodger Stotz, research committee chair of the Forum for People Performance Management and Measurement, discussed the Employee Lifetime Value Study, recently completed by the Forum and the Incentive Marketing Association’s Performance Improvement Council. Stotz described the study’s purpose as looking at the internal side of Customer Lifetime Value, a metric currently gaining respect and attention in Corporate America. “Most marketing people say customers have a lifetime value,” Stotz says, explaining that if a customer spends $100 a week at a grocery store, that customer provides $5,200 worth of revenue over the course of a year; if that store retains that customer for 20 years, that customer’s lifetime value to the company is more than $100,000. “Employee lifetime value is the internal side of customer lifetime value,” Stotz adds. “View [it] through that lens.” As for the study itself, Stotz says it was substantial enough that five white papers will be created from it. Consumer Buying Behavior Changes Vertis Communications recently announced the findings of its Customer Focus 2008: Economic study, conducted in Sept. 2007, which reflects Americans’ changes in buying behaviors and the increasing importance of consumer incentives: 60% of shoppers are cutting back on purchases 59% of shoppers are bundling shopping trips due to rising gas prices and other factors of adults who are restricting spending use ad inserts found in their weekly newspapers (up from 60 percent in 2002) 68% his year’s New York Incentive, Rewards and Recognition show offered attendees in-depth tips and broad perspectives on employee rewards and incentive programs. According to a number of exhibitors, the show was a substantial improvement over the initial NYIRR show last year (which was considered successful in its own right) in terms of the number of corporate end users and their interest in the incentive market. Taking place at the Hilton New York, this year’s show included 130 booths representing over 250 brands, with 1,143 actual registrants in attendance. The show included a keynote address by Don Peppers of the consulting firm Peppers & Rogers Group, a division of T 78% use ad inserts from their Sunday paper (up from 73 percent in 2002) 58% use ad inserts to decide where to shop for clothes (up from 51 percent in 2002) 64% use grocery inserts to help decide where to shop (up from 54 percent) —Alex Palmer 78 | Incentive | June 2008 | incentivemag.com http://incentivemag.com

Table of Contents Feed for the Digital Edition of Incentive - June 2008

Incentive - June 2008 Contents Editor’s Note In The News Cover Story: Seventh Annual Industry Roundtable Incentive Interview Case Study Soft Incentives Empowerment and Engagement The Incentive Career Incentive Primer Travel News: Where To Go and What To Do The Cook Islands Field Report: Bermuda Potentials: Here and Now 50 Top Motivators: The Best of the Best Electronics: High-end Audio Equipment Gift Cards: Should One Be Enough? Advertiser Index Off The Cuff

Incentive - June 2008

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