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Buyers Guide to Loyalty and Incentive Management Platforms: Vendor Selection – Part Three

Evaluating Incentive and Reward Providers

In Part 3 we will explore some essential factors to consider when researching and selecting your loyalty and incentive solution company. The goal of every incentive program is to have excellent UX satisfaction scores while maintaining operational efficiency. Implementing the right technology makes this much less elusive than in previous years. Technology manages participants, activities, event processing, different use case redemptions, validations, QA, reward fulfillment, reporting, and more. Program managers can now easily access accurate program data for better customer service and present robust dashboards to inform decision-making while maintaining security, compliance, and building customer confidence.
Organizations are looking for ways to use technology to improve incentive payout processing, management, and fulfillment for their employee recognition, health and wellness, customer surveys, product rebate, sales incentive, and channel partner initiatives.
This guide is to help the reader better understand the criteria and considerations needed when it comes to evaluating an incentive and reward provider.

In Part Two we will assist you to set the expectations for the research needed to create strategies for your organization’s loyalty incentive program. It’s clear from Part One that loyalty and incentive programs are essential. Here we will evaluate the required internal metrics, employee and customer behavior connected to motivations that drive the outcomes your business objectives require.

Table of Contents:

  • Types of Providers
  • Pure-Play Incentive Platform Providers
    • Characteristics of a pure-play incentive provider
  • Incentive Management Service Provider
    • Characteristics of an incentive management service provider
  • Choosing the right type of incentive solution provider
    • Established, enterprise-grade organizations
    • Limited staffing bandwidth
  • Vendor Evaluations
    • Strategic partnership
    • Program logic
    • Innovation
    • Adaptability
    • Implementation
    • Integrations
    • Omnichannel capabilities
    • Comprehensive analytics
    • Security
  • Vendor Evaluation Wrap Up

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