Incentives For HVAC Manufacturers
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Incentives for HVAC Manufacturers
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Transcript of Incentives For HVAC Manufacturers
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Incentives for HVAC Manufacturers
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Click to edit Master title styleA report released by Research and Markets in 2014 predicted that, by 2019, HVAC equipment will be a $105.7 billion industry. The industry’s growth is attributed to urbanization, rising disposable income, replacement needs, energy regulations, and innovations in technology. Increasing residential and commercial construction in overseas countries like China and India are also expected to drive the market (Research and Markets, “Global HVAC Equipment Industry 2014-2019”).
As an HVAC manufacturer, this is great news for you. It also means you will be dealing with a larger, more diverse range of customers. In order to encourage brand loyalty and maintain a high customer retention rate, you will need tools that suit a variety of needs and communication styles. An online incentive program can help you manage your business and motivation goals for multiple kinds of people.
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Click to edit Master title style• boost channel sales performance
• reward employees for their brand and product knowledge
• thank customers for their ongoing loyalty
All of these program types are applicable to the HVAC industry, where it’s crucial for you to maintain positive relationships with customers, employees, and business-to-business (B2B) partners alike. In this wide pool of people will be a variety of tastes and needs. The best strategy in choosing a successful incentive program is to select one with a wide range of features and rewards to suit everyone.
Incentive programs can be used in a variety of ways:
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Diverse Rewards
Some people like cash rewards; some prefer merchandise rewards like electronics or sporting equipment. Incentives companies like Loyaltyworks, based in Atlanta, have a robust selection of rewards that cater to all preferences. Many enjoy the trophy value from merchandise rewards they can show off and take pride in, such as smartphones, grills, and fishing equipment. Studies have shown that non-cash, tangible rewards are more valuable to employees and, thus, more motivating. Debit card programs, on the other hand, appeal to those who prefer a more versatile reward. They can use their debit card whenever they want, in any store where Visa® is accepted.
As part of a growing industry, you’ll likely be doing business with many kinds of people with varying needs and tastes. The more diverse your reward options are, the happier your participant base will be.
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Click to edit Master title styleWhen overseeing an incentive program
with a large population of participants, it’s
also important to have flexible and
accessible communication options.
Loyaltyworks’ Mobile App gives your users
the ability to access your incentive program
through mobile phones. They can receive
push notifications to stay updated on
program developments, check their point
balances, or input sales claim information
no matter where they are.
Constant Access and Communication
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Click to edit Master title styleWith construction in China and India showing no signs of deceleration, you may be dealing with international customers and business partners, as well. Their program participation doesn’t have to be limited due to their overseas locations. Loyaltyworks’ prepaid debit cards are accepted all over the world. To avoid waiting for a debit card to be mailed to them, users can also choose to receive virtual debit cards. You can instantly email 16-digit codes which function as online debit cards. Chinese, Indian, and European program participants alike can use these virtual debit cards to buy products from their country’s own online stores, avoiding international shipping charges and wait times.
International Options
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Click to edit Master title styleAs the HVAC industry prospers, you can expect to profit greatly if you make the right choices concerning motivational customer rewards and B2B partner relationship management. Expect to work with more and different kinds of people, who will require different incentive and motivational tactics. Using comprehensive incentive programs that are programmed with various business relationships in mind, you will have an advantage over competing manufacturers and open your brand up to the future’s diverse, upcoming opportunities.
Conclusion
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