Tremendous

Customer acquisition isn’t easy. Or cheap. Studies suggest that the cost of acquiring a new customer is 4-5x higher than the cost of retaining an existing customer.  But your company can’t reach its next stage of growth without acquiring new customers. Customer acquisition drives revenue expansion. It's the engine that propels your business forward en route to long-term success. But some customer acquisition strategies are more cost-efficient than others. In our new guide, we outline the customer acquisition strategies best suited to drive growth for B2C companies.

Commissions motivate full-time, in-house sales reps. But how can you motivate external partners, distributors, and resellers to push your products over your competitor's? Channel incentives. They make a huge difference. On average, only 47% of B2B sales reps hit their yearly quotas. But, according to one study, B2B companies with well-designed channel incentive programs see 83% of sales reps reach or exceed their annual goals. In this guide, we break down what channel incentives are and provide steps for creating a channel incentives plan that works.

We all know fraud in market research is a problem. But it's probably worse than you think. We recently analyzed data for thousands of transactions across our research clients looking for obvious indicators of fraud. Our findings were striking. Some firms are sending 50% of their spend straight to scammers. Three of the firms in our dataset collectively sent $2 million to fraudsters. These are massive losses. But they're also avoidable. We recommend several ways firms can stop the bleeding right now. Two of our recommendations won't cost you a thing. And they could save you hundreds of thousands of dollars per year.

Want to increase sales without offering a discount, cashback, or any other customer promotion? Try sales incentives. Companies have used sales incentives to boost total revenues by 32%. Offering your salespeople an additional monetary incentive motivates them to exceed quotas and go the extra mile. One study found sales incentives can do more to increase sales than offering rebates to customers. For a deep dive on sales incentives, check out our latest article.

The one incentive (besides cash) that people prefer over all others: Visa gift cards. They're flexible. They're easy to use. They can buy just about anything. And if you send them with Tremendous, it's ridiculously simple to send a dozen or a thousand at once. But what if you're sending incentives to international research participants, or rewards to employees around the world? Chances are, you can still send them a Visa gift card. They're usable in more than 200+ countries. Of course, there are some key places you can't send them. It's hard to know where they're accepted and where they're not. So we wrote out a list of the countries that do and don't accept Visa gift cards. Plus, all the rules and regulations that apply to international Visa gift cards. Check out the guide below for all the information at a glance.

Do you recognize employees for work anniversary milestones? You should. Employee recognition is more than a nice gesture. When done right, it can reduce employee turnover by 43%. When employees stick around for 1 year, 5 years, or 10 years, they demonstrate their commitment and loyalty to your company. In this week's article, we offer 10 ways to show them you see their commitment, and you appreciate it. From shout-outs in public Slack channels to gift cards, here are 10 ways to recognize your employees for a work anniversary.

“The biggest benefit to Tremendous has been my peace of mind." - Leland Gohl, Head of Marketing and CX at PowerMarket. PowerMarket connects people and businesses with clean energy projects in their communities so they can save on their electric bills and adopt greener habits. They offer incentives to new customers for signing up. And if a customer runs into an issue on their platform, they send them a customer appeasement. Before Tremendous, PowerMarket used a different platform to send incentives. They had to pay a fee for each reward they sent. And the tool was a pain to use. "Each time I sent incentives, I'd have to relearn how to use the platform," said Leland. Then, they switched to Tremendous. Now, they can send incentives fee-free. They've saved $8K so far in fees alone. And they spend way less time on admin work. “If you’ve sent a reward once, you can easily do it anytime thereafter,” said Leland. “Tremendous gets a 10 out of 10 in that regard." Read PowerMarket's full story below.

Fraud is rampant in the market research industry. Today, we're presenting our findings on fraud at #QuirksNewYork. Find out how fraudsters are deceiving market research firms and what researchers can do to stop losing money to scammers. And if you're interested in fighting fraud, stop by the Tremendous booth. We built an AI-powered solution that stops fraud at the point of payment. It's totally free, and available for all Tremendous users.

Mass payouts is one of Tremendous' core functionalities. It's what makes it so easy to send incentives and rewards at scale. If you're wondering how mass payouts work, we wrote a guide to break it down. Sending payouts one-by-one is tedious, time-consuming, costly, and inefficient. With mass payouts, you can send money, gift cards, charitable donations, and more anywhere in the world in a single transaction. More details on the mechanics behind mass payouts below. Plus, a walkthrough of how to send mass payouts with Tremendous.

Building an integration with Tremendous helped Caroo win $1M in new business in a year. The employee recognition platform used to specialize in physical gifts. After integrating with Tremendous, Caroo attracted droves of net-new customers looking for an easy way to send digital gifts employees can receive and use right away. We recently talked to Jake Moser, Director of Product at Caroo, about how the integration went. “It was seamless,” Jake said. “After we launched the integration, we started seeing more spend on the platform pretty quickly.” Check out Caroo's full story below.