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HMI Performance Incentives Wins 3 IMA Circle of Excellence Awards

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HMI Performance Incentives Wins 3 IMA Circle of Excellence Awards

Awarded in the categories of Dealer Distributive Incentives, Sales Incentives, and A/B Testing Program by the Incentive Marketing Association

PR Newswire

NORWOOD, Mass., July 25, 2018 /PRNewswire-PRWeb/ -- HMI Performance Incentives is very proud once again to be awarded into the Incentive Marketing Association's coveted Circle of Excellence. Having earned the award in 2017 in the category of "Dealer/Distributor Incentives," HMI Performance Incentives is the recipient this year of the Circle of Excellence Award in 3 distinct categories: "Dealer/Distributor Incentives," "Sales Incentives," and "Other – A/B Testing Program." HMI Performance Incentives submitted the program that it managed with its client Transtar Industries. The program, named Transtar Rewards, was a highly successful A/B Testing Program that ran for 6 months and focused on pushing product upsell and fostering customer loyalty.

In addition to functioning as a sales incentive, the program was also designed to learn if a product-focused incentive strategy would be more motivating than an overall incremental growth strategy. To achieve this, participants of the program were divided into two different groups—Pilot Group A and Pilot Group B—based on how they were to be rewarded. In Group A, participants earned points for each strategic product purchased; in Group B, on the other hand, participants accrued points for every $1 purchased after meeting their goal. A third group (Group C) did not participate in the program and was used as a control group.

One of the winning factors for HMI was the friendly competition that was cultivated during the program, with customized leaderboards provided to sales teams that offered progress updates and competitive comparisons with other teams. In addition, custom marketing deliverables for each group including welcome emails, announcement videos, and goal-to-go communications provided motivation that was unique to each strategy.

The program vastly exceeded the client's expectations, generating a 584% ROI overall and producing an incremental increase in sales. Furthermore, of the three pilot groups, both groups that participated in the program saw significant year-over-year increases in sales, while the third group—the group that was not involved in the program—saw a 9% decrease. Finally, 47% of participating accounts were able to hit their 6-month goal, growing by an average of 37%.

Stefanie, Marketing Communications Manager for Transtar Industries, had this to say about the program: "In a market that was declining . . . the results of these programs were very positive. The ROI on the program was better than predicted [and] customers were thrilled to be awarded for their purchases."

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About HMI Performance Incentives
Founded in 1980 in Cambridge, MA, HMI Performance Incentives is a global leader in designing and managing sales and customer incentive solutions. At HMI, success is measured by the outcome of our clients' programs and their satisfaction. Our programs are designed to accelerate sales, increase customer or employee engagement, and increase market share. With more than 35 years of experience in the performance improvement industry, we know what it takes to deliver results.

About Transtar Industries
Transtar Industries is a global leader in transmission and driveline-related solutions, They supply a comprehensive catalog of products that includes automatic and standard transmission units, transmission rebuild kits and components, hard parts, valve bodies, torque converters, and more.

Transtar Industries offers best-in-class distribution of quality OE and aftermarket parts and premium remanufactured parts. We provide high-quality, premium products from trusted manufacturers. Add to that expert product knowledge and support, outstanding service and on-time delivery, and it's easy to understand why Transtar customers have enjoyed long-standing relationships with their sales representatives and the company. Transtar Industries sells products to customers across the U.S. and in more than 80 countries worldwide. For more information, visit Transtar1.com.

 

SOURCE HMI Performance Incentives

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