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Combine Behavioral Economics and Customization to Maximize Your Global...

Loyalty programs have a simple objective: Get the consumer to buy more products, more frequently. The basic psychology is equally as simple.  Ran Kivetz, PhD, a leading behavioral economist, has shown...

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Payment Decoupling and Your Recognition System

HR executives can improve the effectiveness of recognition programs through the use of this simple and powerful bias. Payment decoupling is a tenant of behavioral economics that comes from Mental...

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5 Ideas for Personalizing Incentives for Your High Performing Employees

An article from LinkedIn’s business blog concluded businesses should “personalize the rewards and incentives you give to your high performer employees.” The author described how “cold hard cash”...

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5 Ways to Drive Sales Results Without Using Cash

If you were to ask your employees what they’d prefer – more cash or a new TV – chances are they’ll take the cash. The problem is that you are offering them the cash to get better results and it’s not...

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3 Things to Do When Your Incentive Program Isn’t Getting Any Attention

Imagine this scenario. You’ve spent weeks putting together the perfect incentive program for your sales channel. You did your due diligence and created a creative incentive program with amazing reward...

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3 Ways to Use Gamification and Behavioral Economics to Motivate Employees

Gamification is a hot topic. It is basically behavioral economics in action. It taps into our desire, as human beings, to win. Behavioral economics speaks to this as it relates to the prospect theory....

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How to Determine if Your Sales Force Prefers Not Losing to Winning

Behavioral economists who study prospect theory have coined the term “loss aversion” to describe the rather common human tendency that people strongly prefer to avoid losses rather than acquire gains....

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