Cash is bad … for using as a premium or incentive.
If you give a cash bonus, a cash prize or a cash incentive, here is what happens:
The recipient spends it!
The recipient will spend the cash on groceries, a VISA bill, or to help pay this month’s mortgage – and your cash is quickly forgotten.
Instead of offering cash, offer something with long-term memory value.
For example, give a trip. The memories of a trip will last a lifetime – and the memories are always associated with you.
Give a Harry Potter book. Every time the child reads the book, they think of you.
Give a memorable evening out complete with a limo, a nice restaurant meal, and a show.
Give a banquet in their honor.
Give a watch, a special pendant, clothing, a plaque or anything that has a longer memory power than cash.
You’ll want the maximum leverage from your premium or incentive. Tom “Big Al” Schreiter