YES Securities- Building Stronger Connections with Instant Rewards

BFSI Case Studies Finance
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Client: YES Securities

Campaign Objective: YES Securities aimed to strengthen its bond with the sales chain, particularly YES Bank employees, and enhance the relationship between YES Securities and the bank. The primary objective was to motivate and incentivize employees to achieve sales targets while fostering a sense of camaraderie and loyalty.

Strategic Approach and Offer: Collaborating with the RewardPort team, YES Securities devised a strategic incentive program to build stronger connections with its sales force. The program offered e-vouchers to the Pan India Team, providing a diverse range of options from over 240 e-commerce, retail, sports, entertainment, and travel brand gift cards and products. By allowing employees to choose their rewards, the program aimed to empower them and enhance their sense of ownership and belonging.

Implementation and Execution: The program focused on creating a seamless and user-friendly experience for employees. The e-reward shop was designed to be mobile-friendly, ensuring easy accessibility and redemption. Effective communication and training guided employees on navigating the reward platform and maximizing their incentives.

Impact and Results: The YES Securities Instant Rewards program not only achieved its sales targets but also fostered a deeper bond between the company and its employees. By offering a wide range of rewards and empowering employees to choose, the program enhanced satisfaction and engagement within the sales chain. The initiative strengthened the relationship between YES Securities and YES Bank, contributing to a positive work culture built on recognition, appreciation, and mutual trust. As a result, the organization experienced increased productivity, improved morale, and long-term loyalty from its sales force.

Abbott India Ltd

Challenge: Managing end-to-end incentive program for distributors efficiently.

Solution:

  1. RewardPort registered addresses and email ids of all distributors by getting a form filled with their company seal & signature and digitizing it
  2. Created reward catalogue for 5 slabs with 4 gift options in each slab category
  3. Deployed an account manager and operations resource for timely MIS & escalation management
  4. Created a full-proof reward delivery system eliminating pilferage of gifts and theft/misuse by parties
  5. Created periodic schemes for retailers- free recharge on billing of Digene products

Program mechanics: We receive a data file from Abbott team with address and gift option details of the qualified distributors every month. Tangible gifts are dispatched directly on the addresses and e-vouchers are emailed on their registered email id.