INCENTIVE INDUSTRY TRENDS IN COLOMBIA 2005

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1 INCENTIVE INDUSTRY TRENDS IN COLOMBIA 2005 A Study Conducted among Current Users of Merchandise and Travel Items for Motivation/ Incentive Applications Prepared by

2 INCENTIVE INDUSTRY TRENDS IN COLOMBIA 2005 Developed by Jose Fernando Ramirez CPIM Live Incentives Content of this presentation is the property of the Incentive Marketing Association.

3 INDEX I. Background II. Objectives III. Methodology IV. Participants V. Survey VI. Results VII. Conclusions

4 I. Background As a result of the 2003 and 2005 Incentive Federation studies conducted among current users of merchandise and travel items for motivation/incentive applications, Live Incentives in alliance with the Politécnico Grancolombiano University and Expo Marketing Alternativo 2005, decided to make a similar study to determine how incentives are used in Colombia.

5 II. Objectives MAIN OBJECTIVE Determine how the incentive industry is structured in Colombia, among current users of merchandise and travel items for motivational applications.

6 II. Objectives SPECIFIC OBJECTIVES The current study will serve as a base in future investigations on this topic. Obtain specific information in the following specific areas: 1. Current usage of four basic incentive or motivational applications: Sales Incentives, Consumer Promotions, Dealer Incentives and Non-Sales recognition. 2. Setting program objectives for each application. 3. Factors or issues considered when creating a program for each application. 4. Planning and evaluation criteria of the incentives applications of Sales vs. the Non-Sales ones. 5. Use or non-use of online incentive programs. 6. Conception of merchandise, travels and cash as incentive tools.

7 III. Methodology The methodology for this project was a questionnaire with 19 questions sent to more than 100 companies which were current users of merchandise and travel items for motivational applications, with a result of 50 useable questionnaires. Appearing the following characteristics: The study was performed during two months, beginning in the 1 of June of 2005 and with date of closing the 31 of July of the same year. Prospective companies were contacted via phone and prior to survey completion. The survey consisted of a six (6) page questionnaire, with 19 questions of multiple choice with qualitative variables as much as quantitative. Also, each potential respondent received a proposal of the study, that included an explanation of the project with definitions and objectives of the same one, offer of delivery of results to those who decided to participate and a special clause of confidentiality.

8 IV. Participants 50 total respondents answered the survey. Most of them, marketing or sales managers. According to the industry and to the size of the company the results are the following ones: Industry Number of employees Manufacturing 24% Retail Trade 8% Construction 2% Transportation 16% Consulting 12% Massive Consumption 14% Marketing and Publicity 6% Finance 6% Health 2% Services 4% Communications 6% % % % % %

9 V. Survey Probabilistic sampling developed by Live Incentives, with a margin of error of 5% and a trustworthiness of the 95%, to a total population of 50 companies and with a total duration of two months, beginning the 1 of June of 2005 and with date of closing the 31 of July of the same year.

10 1. What type of incentive programs do you plan? Sales Incentives 79% Consumer Promotions 47% Dealer Incentives 37% Non-sales recognition 42%

11 Which are the most common objectives of your incentive programs? Increase or mantain sales SALES INCENTIVES Increase market share Foster teamwork Build customer loyalty Fuerza de Ventas Better customer service Create new markets Build morale 69% 63% 50% 44% Obtain ideas or suggestions Develop contacts / referrals Improve quality 38% 36% 32% 31% Show concern for workers 25% 21% 19% 18% 13% 8% Build employee loyalty / trust Improve attendance Improve safety

12 Which are the most common objectives of your incentive programs? Increase or mantain sales CONSUMER PROMOTIONS Increase market share Foster teamwork Build customer loyalty Fuerza de Ventas Better customer service 82% Create new markets Build morale Obtain ideas or suggestions 55% 30% 26% 36% 45% Develop contacts / referrals Improve quality Show concern for workers 20% 17% 13% 18% 15% Build employee loyalty / trust 6% 9% 3% Improve attendance Improve safety

13 Which are the most common objectives of your incentive programs? Increase or mantain sales DEALER INCENTIVES Increase market share Foster teamwork Build customer loyalty Fuerza de Ventas Better customer service Create new markets 78% 73% Build morale Obtain ideas or suggestions Develop contacts / referrals Improve quality 18% 30% 32% 36% 27% 18% 21% 9% Show concern for workers Build employee loyalty / trust 11% 9% 7% 4% Improve attendance Improve safety

14 Which are the most common objectives of your incentive programs? Increase or mantain sales NON-SALES RECOGNITION Increase market share Foster teamwork Build customer loyalty Fuerza de Ventas Better customer service Create new markets 75% Build morale Obtain ideas or suggestions 21% 3% 58% 33% 17% 17% 35% 29% 25% 42% 48% 7% 8% Develop contacts / referrals Improve quality Show concern for workers Build employee loyalty / trust Improve attendance Improve safety

15 What factors do you consider when crafting a program for each incentive application? Cost vs. Desired result Ease of administration Good appeal SALES INCENTIVES Profitability Perceived value 73% 67% Verification criteria Fair to everyone 52% 47% 40% 33% 27% 21% 20% 15% 5% Has lasting impression Matching program to audience Comparable to previous programs Potential damage to company image

16 What factors do you consider when crafting a program for each incentive application? Cost vs. Desired result Ease of administration Good appeal CONSUMER PROMOTIONS Profitability Perceived value Verification criteria 64% Fair to everyone 45% 48% Has lasting impression 27% 21% 18% 3% 18% 9% 13% 8% Matching program to audience Comparable to previous programs Potential damage to company image

17 What factors do you consider when crafting a program for each incentive application? Cost vs. Desired result Ease of administration Good appeal DEALER INCENTIVES Profitability Perceived value 73% Verification criteria Fair to everyone 27% 15% 39% 21% 36% 45% 18% 9% 9% 5% Has lasting impression Matching program to audience Comparable to previous programs Potential damage to company image

18 What factors do you consider when crafting a program for each incentive application? Cost vs. Desired result Ease of administration Good appeal NON-SALES RECOGNITION Profitability Perceived value Verification criteria % % % % % % % % 63% 43% 25% 33% 25% 36% 42% 50% 3% 8% 17% Fair to everyone Has lasting impression Matching program to audience Comparable to previous programs Potential damage to company image

19 What percentage increase in volume do you set as the incentive goal? Dealer Incentives 17% Consumer Promotions 17% Sales Incentives 30%

20 What criteria do you use to evaluate your sales improvement incentive programs? Total units sold 67% Percent reaching goal / quota 56% Increased market share 44% ROI 28% Cost as a percent of incremental sales 6%

21 On what do you base quotas for sales improvement programs? Previous sales for established duration 78% Sales forecasts 56% Percent above plan 39% Daily Contacts 37% Product distribution 21% Gross profit trigger 17% Potential revenues 12% Competition 11% Time to recover costs 6% Longevity in territory 0% Other 0%

22 How many sales incentives do you normally hold a year? (average) Dealer incentives 4 Consumer promotions 3 Sales Incentives 6

23 How long (months) does each program run? (average) Dealer incentives 9 months Consumer promotions 4 months Sales incentives 7 months

24 How many non-sales motivation and incentive programs do you conduct for each employee group annually? (average) Marketing / Sales support 6 Production employees 5 Office employees 4 Plant engineering / maintenance 3 Warehouse / Transportation 3 Quality control 2

25 What is the average cost of the merchandise awards you used in the last year? Sales incentives $ Consumer promotions $ Dealer incentives $ Non-sales recognition $

26 What is the average cost per person of the travel awards you used in the last year? Consumer promotions $ Sales incentives $ Dealer incentives $ Non-sales recognition $

27 Have you ever run an incentive program online? If yes, what type of program was it? NO 74% YES 26% Sales incentives 78% Consumer promotions. 36% Dealer incentives... 15% Non-sales recognition. 8% If not, why? Not sure how it would work. 36% Limited access to internet. 36% Too expensive % Other... 14%

28 Most people think of a cash bonus or commission as a part of their compensation package. Agree or disagree? Agree 53% Strongly agree 26% Mildly agree 7% Mildly disagree 5% Disagree 5% Strongly disagree 3%

29 Among cash, merchandise and travel awards, which is remembered... LONGEST NEXT SHORTEST 35% 16% 11% 22% 60% 5% 73% 22% 56% Cash Merchandise Travel

30 People prefer merchandise or travel because it is something they would not get for themselves. Agree or Disagree? Strongly agree 20% Agree 37% Mildly agree 5% Mildly disagree 16% Disagree 21% Strongly disagree 5%

31 You can build a more exciting and memorable program around travel than you can cash. Agree or Disagree? Mildly agree 26% Agree 21% Disagree 21% Strongly agree 16% Mildly disagree 11% Strongly disagree 5%

32 You can build a more exciting and memorable program around MERCHANDISE than you can cash. Agree or Disagree? Agree 34% Mildly agree 26% Mildly disagree 16% Disagree 11% Strongly disagree 11% Strongly agree 3%

33 VI. Conclusions Most of questioned companies uses more than one of the incentive applications, being Sales Incentives the one of greater presence, as much in amount as budget, whereas Dealer Incentives are the one of smaller presence, despite being the one of greater duration in months. The opportunities, for the incentive companies, are in the development of Sales Incentives programs. Nevertheless, you must consider that is here where the companies have the highest goals and wait for better results. The incentive programs which are designed for the Sales Force of the companies as well as for the Dealers, must look for an increase in sales; whereas for the Consumer Promotions which looks to build costumer loyalty. In the case of the Motivational, the companies look, mainly, in improving quality and teamwork.

34 VI. Conclusions Incentive Travel programs are mainly used for end Consumer Promotions, because it s here where the companies invest more resources. Independently of the program of incentive used, the most important item for the Colombian companies, at the time of implementing and designing incentive programs is cost vs. the desired result. So, the companies that offers incentive programs must focus their efforts in offering economic plans that offer the best results. How ever, companies look for lasting impressions and marching program audience when consumer promotions crafting is required. Due to most of these promotions are design to build customer loyalty, sale increase and shelve presence. ROI is not measured. Something that is very important in the design and evaluation of the Sales Incentive programs is the number of units sold. Four (4) of each five (5) participants in the study declared to use previous sales as a criteria of evaluation.

35 VI. Conclusions The on-line Incentive programs are shortly used in Colombia. Only one (1) of each four (4) participants has ever implement an on-line incentive program. Mainly because the poor access to Internet and the lack of knowledge about how they work. Although most of the interviewed people feels that merchandise and travels has a greater remembrance and, therefore, effectiveness than cash as a motivational item, there is still observed a great amount of people who see a greater remembrance in the long term using money than cash as incentive. Also, the opinions are divided when asking if people prefer travels and merchandise than cash. The conditions of our country take to think that the widely of the population need cash, to solve a greater part of their problems, rather than merchandise or travels. Based on our study, the industry is only starting and there is a lot opportunities of implementing incentive programs. However, educational programs of how incentive work and their importance is critical for the incentive industry in Colombia. Additionally, It s necessary to be conscious about the advantages of using merchandise and travels as motivational and incentive tools.

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