Creating a milestone series for your ambassadors can be challenging, especially when it comes to determining the optimal points system. Deciding on the number of points required for each tier, as well as the points necessary for specific actions or campaigns, can be a daunting task. However, with our Milestone Series Worksheet, you can easily crunch the numbers and calculate exact timeframes and reward costs. Whether you're a math whiz or not, our worksheet has got you covered!
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Step 1: Milestone Parameters
Rows 1-4: Campaign and Action Parameters
The worksheet's first 4 input fields under Value enable brands to determine the average amount of points offered to ambassadors for completing campaigns and actions, respectively. This is a crucial parameter, as it helps to motivate ambassadors to engage and perform better in the program. The brand can also input the average number of campaigns and actions offered monthly, which will help to balance the workload and ensure that ambassadors have enough opportunities to earn points.
Rows 5-9: Referral Parameters
The next set of input fields enables brands to determine the average referrals per month per ambassador, as well as the points for referrals (percentage of sale or fixed amount).
*NOTE: Depending on your choice of percentage of sale or fixed amount the corresponding input fields will become editable.*
Referrals are an essential aspect of any ambassador program, as they help to grow the program's reach and bring in new customers. By determining the average referrals per month and the points for referrals, brands can create a system that incentivizes ambassadors to bring in more referrals.
In summary, Step 1: Milestone Parameters is a useful tool for brands to create and manage their ambassador program milestones. By inputting parameters such as campaign and action points, referral parameters, and milestone tiers, brands can accurately calculate the timeframes and reward costs associated with each milestone. This allows for better management and tracking of the program, and ensures that ambassadors are motivated to perform their best.
Step 2: Define Milestones
Column One - Milestones:
In this column, brands can list out each tier of their milestone series. For example, Bronze Tier, Silver Tier, Gold tier, and Platinum tier. By creating milestones, brands can incentivize ambassadors to perform better and reach higher levels.
Column Two - Points:
In this column, brands can list how many points an ambassador will have to earn in order to qualify for each tier. This information is crucial for setting achievable goals and ensuring that ambassadors are motivated to reach each milestone.
Column Three - Reward Cost:
In this column, brands can enter the cost of the rewards they will offer to ambassadors for reaching each tier. For example, if an ambassador reaches the Platinum tier, they will receive a product that costs the brand $180. This information helps brands to budget appropriately for their rewards program.
Column Four - Reward Value:
In this column, brands can enter the total value of the reward that ambassadors will receive once they reach each tier. In this example, if an ambassador reaches the Platinum tier, they will receive a product valued at $400. This information is essential for ensuring that the rewards offered to ambassadors are valuable and attractive to them.
By filling out each column of Step 2: Define Milestones, brands can create a clear and structured rewards program that motivates and rewards ambassadors for their efforts. This approach can help brands to build a loyal and engaged community of ambassadors who can help them grow their business.
Step 3: Estimated Months to Unlock Milestones
The final step uses the input data from Step 1 and Step 2 to provide brands with an estimated timeline for when their ambassadors will be able to unlock each tier of the milestone series. This is presented in a month-by-month format, which allows brands to understand the expected progression of their ambassadors through the program. By having this information, brands can make adjustments to the program as needed to ensure that their ambassadors are reaching their milestones within a reasonable time frame.
Congratulations! You've made it to the end of our article. We hope that you found it helpful in creating a successful Milestone Series for your ambassador program. Now you're equipped with the knowledge to motivate your ambassadors, engage them in campaigns, and encourage referrals. Just don't forget to celebrate the milestones along the way!
And remember, creating an effective program takes time and effort, but with the help of our worksheet, you'll be able to lay a solid foundation for your program's success. So go forth, create an amazing program, and don't forget to thank us in your acceptance speech when you win the "Best Ambassador Program" award. We'll be waiting!
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For more information on Milestones and all their uses click here!