Being rewarded for a job well done has always been a motivating factor for most employees to be the absolute best and do the best job they can. Being noticed by the boss for an outstanding job is one of the greatest achievements an employee can have because it validates them and makes them feel like they are appreciated and valued within the business. The same can be true for customers of a business, just like its employees. They want to be rewarded as well, simply because they are the most important part of the company. Rewarding affiliates or partners of the company can also go a long way to making the company one of the best ones all around.
For employees, reward programs, such as whoever sells the more of the product will get a free trip to Las Vegas can work well for a time, depending on the employee’s skill as a sales person and their knowledge of the product they are selling. Rewarding employees with smaller incentives, such as selling 5 items in a day will earn them an extra $100 in cash will also motivate them in the short run, if there is a big push to try and liquidate the item. This reward system all depends upon how much the owner is willing to reward and how attractive the reward is to the employees. A year’s membership at a gym will not motivate someone like cold hard cash.
For customers, rewards can come in all shapes and sizes. They would find that their shipping is paid for by the company, if they spend over a specific amount of money. They could buy a product that has a rebate attached to it, and send in that information. They could use valuable coupons to help lower the cost of the product, which that is extremely popular these days. Or they could be rewarded for advertising for the web site itself. If they recruit or bring a certain amount of new visitors to the web site within a month, they could earn a spending voucher or another type of valuable way to save money that will make them happy and will keep them coming back, just like the new customers will.
For affiliates of a web site, they can be rewarded any number of ways, like customer referrals, partnership products, or just commission off of the banners they provide to other web sites. Obviously, if the number of customer referrals rises, then number of people seeing their products in their web sites and possibly buying them is increased. When this happens, their revenue goes up, which means more money in the bank for them. Who would not be happy with that? Partnership products is when the affiliate web sites partner together a few products that complement each other, like gardening tools, flowers, and soil. Each site has a specific product they are placing into the combined sales package, so each site should benefit from the profits from the sales of that package. The commission from the site banners is just an easy way to sit back and watch the money come in when customers click on the banners.