Reward Programs and Innovation Success

Loyalty programs, just in the retail space have grown exponentially over the last 5 years. Research reports in 2014 showed the average loyalty programs per household in the US was a whopping – 22. So the questions now is, what makes reward programs so popular? Can innovation succeed through such loyalty and reward programs? Looking at the Starbucks, Barnes & Noble’s trend, you would acknowledge innovation, munificence, and a very thorough understanding of customer needs, as the drivers behind their customer loyalty success.

However, does generosity as entities in themselves in form of direct cash backs, discount cards, fancy accessories and luxury getaways drive innovation? Probably not, but make it a systems approach, with one factor driving the other and open the idea to a large target audience, and you might have just hit the sweet spot of innovation and success.

Rewards and loyalty programs stimulate and encourage people to innovate, collaborate, learn and share their expertise on a subject. So understanding when and how to reward your end user is key. In fact, it is the end user who gives several new innovative ideas and as we mentioned in our previous post, Gamification is one such mechanism.

To make rewards and loyalty programs innovative it’s imperative these should be in alignment with the strategic objectives of the firm. Creation of new initiatives to help unlock the current problems or find the next best idea is one example. The selection of an idea based on common criteria and then funding of the idea in order to make it a reality would perhaps work. Another possibility is the formulation of new workshops to brainstorm and conceptualize new ideas. This would help identify top potential with innovation thinking capabilities and allow them to grow with the organisation.

Open innovation has a distinct characteristic that most people innovating or helping here are not money driven if they have a market competitive pay package. They are happier and motivated if they feel valued, recognized and have an opportunity to learn and share knowledge. Our Enterprise innovation suite helps in a unique way here, monitoring all users dynamically and providing analytics on all user and system activity. Creating leaderboards and templates for campaign and loyalty programs helps with recognition, encouraging communication, builds trust and creating an interactive innovation community.

The purpose is to share ideas and solutions openly. This increases the possibility of having disruptive ideas and rethink reward programs. As a consequence employers and contributors are acknowledged at the same time. Rewards and recognition stat from the ideation process, and should be carried over the entire innovation lifecycle all the way to the implementation of idea if it happens. The idea is to garner support and generate the “hype” for participation in future campaigns.

Finally, rewards and recognition together help promote innovation through meaningful contributions. Rewards provide the means and recognition provides the platform for a sustained innovative culture. Such programs send a strong and clear message to customers, employees and the network involved that their contributions valued thereby bringing results for the innovation initiative.

Innovation Is the Key to Success

Innovation is the key to success and is a powerful weapon to have when you are traveling the road to success. Innovation does not belong to the rich or powerful, it belongs to everyone that lives today! Facebook, Amazon, and Apple started out as a dream from ordinary people. The same can be said about you, the reader; you have that potential to be someone great in your personal or business life.

It takes practice on your skill or niche to overcome any obstacle that you will face on your journey towards success. This article will give the mental software to reprogram your brain for success by being innovative in your personal or business life.

1. If you have an innovative idea, keep it to yourself. You have to protect your dream at all cost! Sharing your dream or idea will only lead to criticism and theft. Those people who have stolen your dream will claim all the credit, leaving you in the dark.

2. Achieving success for your innovation requires that you spend a great deal of time making your dream a reality. Organize your daily schedule where you can find the time to work on your dream. If you have a day job, you can plan a time before, during, or after work in which you can start working on your innovation.

3. If you are having trouble thinking up of an original idea for your project, get up and move around to get the blood flowing to your brain. As I was writing this article, I had to get up and move around for a couple of minutes to think of original ideas for this article; as many of you can tell, writing articles is my innovation.

4. Don’t be afraid to write your dreams or ideas in a journal or notebook. It will surprise you to see how powerful your brain is when you use it as you are jotting down your innovation. This is how ordinary people become successful in life.

5. People love to hear or read ideas that are unique and original. Take the time to look at the great works of famous artists. No 2 paintings are the same; each one is different and tells a story that will capture the attention of the audience. For example, I have six children that are growing up too fast; each day they leave a huge mess for me to clean up. One day, I was searching the internet on how to quickly get a house cleaned up. Website after website, I was reading the same old stuff that I learned as a kid until I came across a YouTube video that showed one technique that I have never heard of before; the result was a clean house in 20 mins!

6. As an expert article writer, with many of my articles being used on many high-ranking websites, all I needed was a computer, internet connection, and the desire to succeed. You will only need the basic tools to make your dream a reality. If your innovation is to write a book, all that you need is a piece of paper and a plain pen or pencil. If you are looking to start an affiliate marketing career, you will need a computer and an internet connection. If you want to become a great scientist or mathematician, start reading books and memorize the formulas.

In conclusion, you can see why innovation is the key to success. It will lead to personal and financial wealth.

Discover How Innovation and Brain Power Is the Key to Success

The last article that I have written about innovation is the key to success; there was a paragraph in which I have mentioned how powerful the brain is when it comes to writing your ideas, to make your innovation a reality, in a notebook or journal.

Today, I am going to focus on the power of the brain and how you can use it to make your dreams or innovations come true.

In Biology, Psychology, or Anatomy classes, we learn that there are 2 main functions of the brain; they are called the Conscious and Subconscious. These 2 parts of our brain play an important role in everyday life. Some of you may think, “What has this got to do with innovation?” I will explain it to you.

The Subconscious Mind

For a building to exist, it is drawn up on a mental blueprint. The builder(s) have to visualize in their minds what the building is going to look like, how to tall it will be, and the materials that will be used before a physical blueprint is made.

For my readers, those who want to achieve success through innovation, I want you to draw a mental blueprint in your mind of who you want to be in the near future and figure out what it will take to make your dreams a reality. In this part of the exercise, do not write anything down as I will continue to discuss the importance of the subconscious mind, so that you can get a clear understanding of what I am talking about.

This part of your brain is where your dreams are active (awake and asleep) and where memories are stored.

1. Dreams. The innovations that we have today started out with dreams. The great Mathematician, Srinivasa Ramanujan, wrote his dreams down; many of which solved the riddles of Math and Physics. Your dreams play a vital role in starting your own innovation, so pay close attention to what dreams you have and see which ones are vital to your personal success.

2. Memories. There are many articles that I have written where I have used past memories and experiences and shared them with the world of how to become a better affiliate marketer. You wouldn’t believe how many people have benefited from this as they have shared my articles on their websites or blogs.

Memorize important formulas or word definitions. I am sure that Mr. Ramanujan have memorized many Math formulas throughout his lifetime that led him to discover new formulas through his dreams. Memorizing important items will help you succeed on tests or discovering new ways to run a better business.

The Conscious Mind

If the Subconscious is the root of the tree, then the conscious mind is the main tree; it is the growth or the action part of the mind. It is where you make your dreams a reality!

1. Dreams. If you have a dream that is important to your innovation, write it down immediately in a notebook or journal; this means jumping out of bed in the middle of the night. If you are writing a book, dreams are a great to get started; you will visit worlds beyond your imagination and engage in an adventure that you will never forget.

2. Memorization. It is important to write in a journal everyday so that you can recall important events that have happened in your past. Who knows, you can create important tips in your next article or innovation that will help someone who is looking for answers to their question.

In conclusion, never neglect the power of your mind; it is the key to achieving personal and financial success. In your mind, innovation is born; start working on yours today!