Five Quick Tips For Choosing the best Enterprise Reward Solutions

Are you looking for what it takes to create, launch and manage a successful rewards program – Technology! Developing an effective rewards program strategy requires the best enterprise reward solutions. You need to think beyond what types of rewards are offered in your program. You need to find the right rewards program provider and management technology to ensure your program’s performance, ease, transparency, and success. It is every bit as important as selecting the right rewards to offer

A fully custom technology solution that will work for your program’s needs is the best option, but it can be difficult to find something that fits both your need and your program’s budget. With a little effort shopping around, you can have a program management tool tailored to your specific program needs at an affordable price.

The following is what you can expect from All Digital Rewards, a leading reward management technology provider, and what you should be on the lookout for when shopping around for other providers.

The Must-Have’s:

• Rewards management solution comparisons — Selecting a big-name rewards provider is not necessarily in a company’s best interest anymore in today’s evolving technical climate. Response time is slow, and for the most part, their systems are built on legacy technologies, and to accommodate today’s consumer preferences they have had to incorporate many workarounds. This is the reason for their inability to provide real customization. To put it in a visual perspective – think of the big box rewards provider as a 5,000-passenger cruise liner and a fully customizable provider of a 500-passenger elite yacht. The cruise liner must provide food, activities, and amenities geared to the masses, whereas the yacht is built to recognize the differentiators that are needed to construct a personalized rewards experience to extend the lifetime value of the cruiser.
• Strategic services — Make sure your vendor can provide more vital services, such as the predictive and industry-specific analytical models.
• CX experience —  Are the reward service providers you are considering interested in helping you build relationships centered on customer value and engagement or just an out-of-the-box points or discounts program?
• Advanced technologies —  Does the rewards service provider have the technology, advanced analytics, and expertise to make your program successful?
• Self-service —  Is the service provider’s platform a self-service technology platform? Can it provide flexibility and responsiveness?
• Customization — Run don’t walk from a packaged platform that requires configuration – not customization – to meet your requirements. The boxed platforms might get up faster, but with today’s advanced technologies, there is no need for a boxed solution. If the provider’s core technology is built employing advanced microservices (not older legacy technologies), you can meet today’s customer’s preferences.
• Behavioral economics —  Are they employing a psychological approach to rewards strategy or are their processes being dragged down by lagging technological capabilities?
• Marketing strategies — Do they understand the marketing strategies necessary to drive the technologies and promotions to support your various channel, sales, consumer, and employee initiatives?
• Extensive incentive and reward offerings — Will you have to go to multiple resources to provide relevant rewards? Or does the provider have merchandise, digital rewards,  Visa® prepaid cards, gift cards, and travel?

-The provider should be able to accommodate full Admin access for you and any other users that will need to get in to control the program.

Your Own Branded Marketplace/Participant Portal

-A marketplace with your branding is so crucial for your participants so they don’t feel like they are being sent to some third party who will release their information.

-Communication between you and your incentive program management provider is vital to a successful program. Have the ability to reach a person for a question or to help solve a dilemma; you should never have to sit on hold or communicate with a robot.

-Ability to receive/see real-time analytics and comprehensive reporting to help measure your program’s success.

-You should be able to customize your solution to fit your program’s specific needs.

-Extensive, but not excessive. Sometimes too many rewards is overwhelming. Offerings that provide the latest trending and beneficial items for your participants.

Be sure to include All Digital Rewards, a leader in reward management technology, when procuring a new provider. ADR offers a customizable experience at an affordable price. Our rewards reward management platform, SaaS with Stack ™ and incentive and reward issuance applications and technologies meet the needs of today’s channel, consumer, sales and employee rewards initiatives. Our advanced microservices and dynamic technologies are cloud-based and built to evolve with the changing needs of your business. We have a one-stop approach to incentives and rewards giving clients the biggest bang for their buck with an extensive offering of merchandise, digital rewards,  Visa® prepaid cards, gift cards, and travel. All Digital Rewards will assist you in building a strategy and identify key customer differentiators and help you match the appropriate incentive. The best part is it is done with automated technology!

To learn more about driving higher engagement through Reward Management Technology call today at 866-415-7703 or click here to schedule a demo!