Rewards for Business Development Activities

MarketTrends, the newsletter of the Association for Accounting Marketing, recounts several case studies on how firms encourage their staffs to participate in marketing. One of particular interest assigns points for marketing activities such as networking meetings, prospect meetings, cross-selling activities with clients, assistance in bringing in a new client or engagement, and attendance at training classes. Each of these endeavors is assigned a value and rewarded with a predetermined cash payment.  There is no time requirement. The associates are paid when they achieve. Then they can move on to a new assignment.

The program has helped the firm increase community brand awareness, relationships in general, and internal recognition.

For more, see MarketTrends, September/October 2004, p. 1.