New York, USA – Driving extraordinary results is the foundation of every incentive program – whether the program seeks to increase sales, improve…
New York, USA – Driving extraordinary results is the foundation of every incentive program – whether the program seeks to increase sales, improve customer service or bolster sagging morale. Many companies, however, lack the ability or means to measure the Return on Investment from these programs with a true measure of integrity. This failing places both programs and managers in perilous positions when these programs come under scrutiny.
Jumping in to meet this need is the Society of Incentive & Travel Executives (
In developing the educational product, SITE utilized two leading experts in the field to serve as curriculum developers – Anne Turnbull, senior consultant, Maritz Canada, Inc. and Bob Dawson, cite, managing director, The Business Group. The pair has extensive backgrounds in the design and measurement of targeted business solutions that brings a valued synergy to the program. Maritz' client experience crosses a broad range of industries, size, and business challenges while the Business Group's niche focus on consultative ROI services provide the breadth and depth needed for this comprehensive project.
In announcing the availability of the product, SITE Executive Vice President/CEO Jill Harrington noted the relevance of the topic to the current economic forecast. "The need for this product has never been greater. Driving the strongest possible return and validating the bottom-line business results of these initiatives to CEOs, CFOs, and stakeholders is a critical imperative in an economy marked by uncertainty."
The tools offered in the seminar take participants well beyond the traditional "basic incremental return" model. Financial and non-financial measures are identified that can be used in analyzing the results in various types of programs.
But being able to measure results is a wasted effort if the programs under review do not drive positive and strong results. To ensure that the corporations derive the best possible value the new SITE seminar includes a "Value Maximization" process that provides planners with the means to identify and assess internal and external factors that can contribute to the success and failure of a program. Using pre-launch and ongoing program assessments (rather than just post-evaluations) permits planners to have contingency plans in place throughout the lifespan of the program and make refinements as needed to produce and even exceed the desired goals.
Through a case study process, participants will learn to identify and measure the impact of internal and external factors on program results. The seminar helps managers ask the right questions and collect the relevant data to allow strategic decision-making to take place. This skill development is immediately transferable to their own work environment and program planning. The seminar demonstrates best practice methodology for presenting program results to senior management and other key stakeholders.
The newest addition to SITE's seminar series follows the organization's mission to develop and produce products geared to specifically identified needs of the marketplace. "Developing standards for the industry has always been a SITE mandate," Harrington noted. "We are confident that corporations and intermediary companies will adopt the models and tools as industry benchmarks."
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
