A monthly member communication of the Incentive Marketing Association.
In this Issue
Strategic Industry Groups of IMA
Global Incentive Council (GIC)
Thank You to our 2015 Education Foundation Sponsors
Join IMA in welcoming your newest association colleagues.
CIIC GUANAITONG (SHANGHAI) CO.,LTD
MAJOR BRANDS GROUP, INC.
As in Billions. Fairly recent studies have valued the incentive channel between $76 to $115 BILLION dollars. That is larger than some pretty well-known companies, like eBay, LinkedIn, Carmax, Best Buy and Target. WE are not an insignificant channel of trade as Marc Matthews from the ITC reminds us this month. Marc’s column offers insight into another one of the IMA special interest groups.
The ITC represents an important piece of the reward and recognition puzzle. Incentive travel is rebounding and growing. Marc reminds us that many travel experiences include the use of merchandise and gift cards in their programs to reinforce the impact of the programs. An opportunity for SIGs and members to collaborate in the use of incentives.
As you read and learn more about one of the IMA's smaller SIGs by membership, realize the enormous impact they can have. Can you name an ITC member? Are you hopefully supporting fellow IMA member companies? (The February IMA Board Meeting will be held at an ITC member property.)
I hope you have a great start to the New Year and that 2015 is remarkable for all of us.
By Marc Matthews, Incentive Travel Council President
Thank you Rick Low and the IMA Board for allowing me the opportunity to introduce the Incentive Travel Council SIG to the IMA Membership and explain a little about what we do. The Incentive Travel Council is made up of organizations that specialize in providing all facets of travel and experiential rewards to the Incentive Industry. ITC member companies include hotel chains, vacation timeshare and Bed & Breakfast booking engines, car rental companies, and companies responsible for providing golf and other experiential travel packages. Incentive travel – whether in the form of group travel, individual travel, or a special motivational event – is unlike other reward and recognition programs in that incentive travel often creates experiences that individuals would be unable to duplicate on their own. These positive experiences create lasting memories that reinforce the behavior or effort initially expended to earn the reward.
This past summer at the IMA Executive Summit in Philadelphia I was lucky enough to host a panel discussion titled “Increase Revenue by Creating a Secondary Market Vertical.” The theme of the session was how IMA members might increase corporate revenue and profits by collaborating with other members and diversifying by adding a mix of merchandise, gift cards and travel incentives to their current service or product offerings. In preparing the presentation I learned several interesting facts that I would like to share with you:
The bottom line of the research was that procurement departments are now being pressed to create deeper, more innovative partnerships and to use current resources and relationships to create ever increasing and on-going cost-savings and value. The trend is toward an incentive vendor’s complete value proposition by offering a mix of product and services. On a personal note I must mention that my company, Corporate Sport Incentives, constantly uses a blend of gift cards and merchandise to round out our experiential travel programs. I would urge the entire IMA membership to develop and strengthen as many strategic partner relationships as possible with members of other SIG’s as a way of 1) creating greater value for their individual clients and 2) creating a possible new market vertical into which they may sell their product or service.
It is in this spirit of collaboration that I would like to invite any and all IMA members to consider membership in the Incentive Travel Council. I would urge you to take a look at our membership as a resource for creating and fostering the invaluable strategic relationships necessary to diversify or as a possible outlet for your current product or service offerings.
The Incentive Source will also be distributed at a variety of trade shows including the 2015 IMEX show and the 2016 PPAI Expo, reaching hundreds of potential customers.
Can you or a colleague offer expertise on topics relevant to other IMA members? If yes, please take this opportunity to submit a proposal for the 2015 IMA Summit in July. We are looking for topics that are either directly relevant to our industry as a whole or to a specific product, service or SIG, or general business topics that our members would find relevant and useful. Click here to make a submission.
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