Scottsdale, AZ (March 20, 2007)—A new Performance Impact Assessment (PIA) protocol from Incentive Logic Inc. provides "20/20 foresight" of future incentive programs, mitigating much of the risk in designing and implementing such programs and saving administrators from making costly and time-consuming mistakes. While the future ROI for sales incentives can be relatively straight-forward, other types of incentive programs—such as customer loyalty programs, channel incentives, dealer incentives, and employee incentives—often prove trickier to predict. Incentive Logic's PIA solution fulfills this need.
The creation of the PIA is in response to the growing interest in incentives as a legitimate and important business tool. The industry is delivering value and growing, with more than $200+ billion spent annually on incentive programs. Sales and marketing managers are increasingly adding incentive programs to their marketing arsenal. When deployed strategically, they are cost-effective and achieve business goals. The PIA is a welcome addition to help administrators plan successful programs expediently and effectively.
"Because many marketing and HR professionals are just testing the incentive waters for the first time—after seeing the benefits colleagues and competitors have realized—we saw the value in an assessment tool that could predict the final outcome of a program," explained Roger Hackett, Incentive Logic CEO. "Convincing your CEO, CFO or other C-executive, about the value of an incentive program is a lot easier when you have something like the PIA to show." Utilizing qualitative and quantitative analyses, the PIA explores:
Hackett provided an example of how PIA works using a sales incentive program for a global company serving Fortune 500 companies. A comprehensive assessment included: one year (short term) and 13+ month forecasting (long term); detailed analysis of specific incentive programs used by competitors; administration of a participant survey and results analysis; a phased development plan; establishment of key performance indicators; and creation of a marketing plan; among other criteria. The bottom line? Anticipated ROI of 106% in the first 12 months. Additionally, the PIA forecast an ROI of 367% and a 30% increase in sales over a 24-month period.
Incentive Logic Inc. works with businesses to develop performance-based rewards programs that help them achieve their goals. By combining business intelligence with a next-generation software platform, they help clients target key performance indicators through tailored incentive solutions that ignite performance. Founded in 1998, Incentive Logic, Inc. is a privately held company headquartered in Scottsdale, Arizona.