One10’s Take: Trends from the 2024 IMA Summit

In July, One10ers had the exciting opportunity to head down to New Orleans for the 2024 Incentive Marketing Association Summit. They left not only with two prestigious awards—the Inspirational Place to Work Award for our entire team and the Incentive Influencer Award for our Chief Revenue Officer, Richelle Suver—but also with a wealth of insights.

Throughout the summit, members of the Incentive & Engagement Solution Providers (IESP) shared their best practices and highlighted emerging trends in the incentive marketing industry. From cutting-edge engagement strategies to the latest innovations in rewards programs, we gathered key takeaways that are set to shape the future of performance improvement and its impact to organizations and its people.

Here are One10’s takes on the emerging trends uncovered at the 2024 IMA Summit:

IMA Trend: Award Choice in Program Design

One10 take: At One10 we believe the power of choice in rewards holds immense impact. Here’s why:

When team members have the freedom to choose rewards that reflect their personal interests and goals, the rewards feel more meaningful. For example, someone working toward a dream trip to Hawaii is likely to be more inspired to reach their goals when that trip is an available reward option.

In recognition of this, we’ve expanded our offerings with a new Choice Reward Option. For clients who prefer cash rewards, we now provide a variety of flexible disbursement methods, including:

• Virtual cards
• Digital wallets, i.e. Venmo, PayPal
• Physical prepaid cards
• Debit/Bank transfers

We believe that offering choices that inspire and motivate, whether through cash or non-cash rewards, is crucial to maximizing the impact of your rewards program.

IMA Trend: Hyper-personalization of Program Experience

One10 take: Your incentives program should be as personalized as your team.

Today’s employees expect more than a one-size-fits-all approach to incentives. To personalize your program, regularly gather feedback to understand your team’s unique perspectives and identify any issues.

For instance, some teams might need reminders to cash in their points, while others may appreciate communication about local events they can attend as rewards. Every team is different, and by leveraging feedback and data, you can tailor your program to meet their specific needs. This helps ensure your incentive program stays current, and responsive to change.

IMA Trend: Tailoring Programs for Multi-Generational Workforces
One10 take: To effectively engage today’s multi-generational workforce, your incentive programs must cater to a range of preferences and values.

We are passionate about this point, which is why our CRO Richelle Suver spoke about this very topic at SITE Global Istanbul last fall. With today’s workforce spanning multiple generations, a one-size-fits-all approach simply won’t cut it. What motivates a Traditionalist might be worlds apart from what inspires Gen Z. Understanding these differences and tailoring your programs to meet the unique needs of each employee is the key to driving real engagement and success.

IMA Trend: AI and Other Technological Advancements
One10 take: AI is revolutionizing the incentives industry, adapting is non-negotiable.

When social media first came onto the scene, there was plenty of hesitation and debate about how companies should use it. Fast forward to today, and it’s hard to find a company that isn’t actively engaging across multiple social channels.

AI offers a similar turning point for our industry, providing the tools to work smarter, not harder. It can streamline tasks like research, proposal writing, and even drafting event agendas for incentive travel, saving valuable time. While AI will never replace the human touch and personalization that our industry thrives on, it’s a powerful resource that can make our work more efficient.

The insights from the 2024 IMA Summit reaffirm our commitment to leading the way in incentive program design. From leveraging choice and hyper-personalization to embracing AI and multi-generational strategies, we’re already at the forefront of these trends. Need help ensuring your incentive program is up to date and best optimizing the performance of your team? We’ve got you covered—let’s connect.