July 2016
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How Reward & Recognition Merchandise is Used

In previous newsletters, we talked about the advantages of working with an incentive manufacturer's representative, and why cash is NOT King in the world of corporate gifts & rewards. In May, we discussed the benefits of selling corporate Gifts & Rewards. In June, we discussed how to choose gifts for your clients. In this edition, we'll talk about the types of programs your clients might be running, and how you can contribute with name-brand merchandise rewards.

Types of Reward & Recognition Programs

Your clients may be running several types of programs that use name-brand merchandise as the reward vehicle, including:
  • Employee Incentives: Employee-of-the-Month, Customer Service Awards, Peer-to-Peer Rewards or Spot Awards that catch employees "doing something right".
  • Sales Contests: The sales rep reaches or exceeds quota and earns rewards.
  • Safety Programs:  In manufacturing or other plants where safety is a concern and mistakes or missed days because of injuries are expensive.
  • Consumer Promotions:  Frequent buyer programs, Gift-with-Purchase and other programs reward consumers for purchasing specific items, purchasing more or more often.
  • Dealer Promotions:  Programs that encourage Dealers to purchase more or purchase a specific mix of skus and are rewarded with merchandise rewards in the place of discounts. 
  • Loyalty Programs:  Similar to frequent purchase programs, consumers are rewarded for increasing purchases or purchasing over a long period of time.
  • Wellness Programs:  Of increasing concern to company leaders as insurance costs rise, there are many advantages to having a healthier workforce. Companies that structure wellness programs may outsource the reward component.
  • Customer Gifting Programs:  Studies show that consumers who receive gifts are far more likely to buy again from that company. These may be Holiday gifts, a gift on the anniversary of a purchase or other significant time frame. There are tax advantages to companies that have defined and documented gifting programs.
As you're visiting with your clients to show them the latest great promotional product, ask about their company and the challenges they're facing. You may just find a solution in the form of a reward & recognition program!

Issue: 8
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Reward & Recognition Program Fun Facts:

75% of US Businesses run reward & recognition programs for employees or customers

Only 40-43% of those companies use vendors who specialize in reward merchandise to obtain the gifts & rewards (the others go to retail...).

54%-69% work with more than one supplier on their programs

Annual budgets for reward programs average $23,000 - $44,000 annually

Companies under $50mm spend $1.4 billion annually on reward & recognition programs

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