Are you looking to add some fresh flavor to your incentives rewards programs? Whether it is for market research payment incentives programs, customer incentive programs, employee health and wellness incentive programs, or a channel partner program, there is always more you can do to make your incentives rewards program better. Some of the best ways to kick it up a notch include adding sweepstakes/instant win games, choosing the right rewards, and increasing motivation. Gamification is extremely popular. Most companies are trying to find ways to incorporate some form of gamification into their incentive programs through things like instant win game applications or sweepstakes programs. The important thing with gamification is to make sure you have good sweepstake or instant win game software and that your instant win game providers are going to give you the support you need. Instant win game technology and sweepstakes technology are essential to your success. Rewards are a key part of every incentive program. prize incentive companies will often point out five key reward types. Cash equivalents such as virtual visa prepaid cards, physical prepaid cards, and checks are a favorite among consumers. A good visa prepaid card provider will be able to offer bulk […]
Category: Incentive Program
Your New Health and Wellness Incentive Program Needs This To Succeed
Without the proper wellness program strategy, No health and wellness incentive promotion is guaranteed success. However, this doesn’t mean it has to be a complicated process. When making changes to an existing program or setting up a new one, if you cover the basics and work with experienced experts, you’ll find that your program is well on its way to success. It is essential to your program’s success that you ensure proper planning is aimed toward increasing participation in your health and wellness program. Listed below are a few basics to help guide you to boost participation rates for your health and wellness platform. -You need a well-designed and thought-out program where candidates can reach their goals. -The more participants, the better for your program. When building your program’s timeline, allow a sufficient amount of time to build up interest and excitement (several weeks or so) for your health and wellness program. A number of educational information and announcements released over the course of your build-up period will increase interest. Examples can include: Helpful Tips: -Use attractive visual presentations -Demonstrate a few examples of what to expect -Pass out questionnaires and enrollment packets for those who would like to enroll […]
3 Keys To Your Channel Sales Incentive Program’s success
An essential aspect of the process to generate sales, customers, and new leads is to engage and entice your partner sales down-line about your products and services. Channel sales incentive programs help to motivate your sales teams to do their best work. Channel sales incentive initiatives are easy, cost-effective, and an incredible way to boost your profitability. The more you engage your channel partners, the deeper your partner loyalty will go. Three key steps should be taken to create a fantastic channel sales incentive program. These will help you face the challenges common to all marketers during the program-creating process. By implementing these elements, your channel sales incentive program will be off to a good start! Create a strategy for your channel sales incentive program. First, identify and examine your target. What are your program goals? What programs, if any, are currently offered. Consider previous years’ sales and your desired growth. These are some basic questions that will help you determine what your program’s objectives are. When you’re putting together your strategy, consider what system features you need for your program. Here are some “must-haves” to keep in mind: Top Must-Have System Features To learn more about system features to […]
What You Need to Know About Incentive Reward Platforms
When looking for the right technology for your incentive program, you need to ensure you get what is bargained for and the technology purchase addresses your overall organization’s incentives needs. It has to be able to solve the various engagement use case challenges identified to vendors when sourcing the incentive technology. Understanding what you’re looking at can keep you from implementing a system that stakeholders initially supported but within time proves to be unable to meet the organization’s short and long-term incentive goals Platform solutions offer a robust technical foundation of multiple application solutions in support of different engagement use cases that can roll out across industries and organizational structures quickly and simultaneously. While looking for reward management operations software, you are likely to come across two solutions types. Single application solutions have more targeted tools, and address single-use case reward issuance, and fulfillment processing challenges. In contrast, there are incentive platform systems whose sole purpose is their ability to solve many problems at the same time. Both types of technologies are important and have their place, but it might not be evident right away which is the right option for your incentive program management needs. We are going to […]
Decision Guide for Loyalty and Incentive Full-Service Platform Solutions
This informative guide will help organizations understand the top must-have SaaS system features for 2022 and beyond. As technology evolves and becomes more cross-functional, user-friendly, and accessible on mobile devices – not to mention the vulnerability to data breaches – participants have come to expect more from the incentive platforms they share their data with and are engaging on. Businesses and organizations are now more than ever faced with delivering program incentives on Platforms that can provide enhanced capabilities securely to motivate participants to achieve increased targeted outcomes. As technology changes and business requirements evolve, managing programs and rewards can become more and more a challenge. This informative decision guide will help organizations understand the top must-have loyalty and incentive system features neede today and beyond. As technology evolves and becomes more cross-functional, user-friendly, and accessible on mobile devices – not to mention the vulnerability to data breaches – participants have come to expect more from the incentive platforms they share their data with and are engaging on. Businesses and organizations are now more than ever faced with delivering program incentives on Platforms that can provide enhanced capabilities securely to motivate participants to achieve increased targeted outcomes. As technology changes […]
Buyers Guide to Loyalty and Incentive Management Platforms: Buying Process – Part Four
The purpose of Part Four is to help you understand the phases of the incentive technology buying process and help you with your organization, key stakeholders and their involvement, and how to handle objections. This informative guide will focus on how to effectively conduct discussions within your organization about investing in a loyalty program, including key qualitative and quantitative success metrics. Well-executed programs encourage relationships between a business and its customers rather than relationships between customers and their reward points. Evolving technology has moved loyalty programs beyond standard point accrual. The behavioral and emotional components of loyalty and how participants interact with your brand are now at the forefront of program planning, strategy, and engagement. Remember that successful incentive programs use simple logic, are friction-free. They are easy to join and understand the program terms, incentivize engagement, so the user wants to receive the reward, provide a variety of relevant reward products matched to the participant demographics, and excite and delight the members. Understand the responsibilities of the primary stakeholders in the buying process and at what stage each team should join throughout implementation. Several primary stakeholders have varying focuses, concerns, needs, and goals for the incentive program and solution […]
Buyers Guide to Loyalty and Incentive Management Platforms: Vendor Selection – Part Three
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 […]
Buyers Guide to Loyalty and Incentive Management Platforms: Build Better, Not Bigger – Part Two
Guide Description: 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. Developing Loyalty and Incentive Program Strategies This chapter will assist you to set the expectations for the research needed to create strategies for your organization’s incentive program. It’s clear from Chapter One that loyalty and incentive programs are essential. Next, we will evaluate the internal metrics, employee and customer behavior connected to motivations that drive the outcomes your business objectives require. The first step is to establish the foundations of your loyalty and incentive programs is by conducting internal research on business operations, employees, current customers, and competitors. A Program is always more effective if you can get input from representatives of the participant audience. Inviting input on the rules, rewards, and other aspects of the program will increase ownership and engagement in your research. What programs are running now? Can they be improved upon? Do the participating managers […]
Buyers Guide to Loyalty and Incentive Management Platforms: Create the Use Case – Part One
Guide Description: In this informative section, we will assist you in building the case for loyalty and incentive program platform technology. You will start by summarizing the benefits of a loyalty incentive program to clearly define the value proposition and how the organizations’ investment in a loyalty and incentive program and the necessary technology to support it will help to achieve your organization’s business goals. Building the Case for Incentive Technology In this informative chapter, we will assist you in building the case for loyalty and incentive technology. You will start by summarizing the benefits of a loyalty incentive program to clearly define the value proposition and how the organizations’ investment in a loyalty and incentive program and the necessary technology to support it will help to achieve your organization’s business goals. With the engagement and acquisition costs on the rise and shifts in managing privacy, now is a perfect time to invest in an incentive program technology to future-proof the internal and external engagement initiatives of your business. Loyalty and incentive programs are vital to future-proofing a brand. It’s not enough to rely on a decentralized one-off view of single application type incentive programs to manage programs such as […]
Get Up to Date with the Latest Research on Teams and Incentives
Incentives are a popular way to motivate workers and teams. The question is, how do incentives benefit team dynamics? The Incentive Research Foundation recently released an article addressing this very question. When asked whether they’d rather work on a team or as an individual, ¾ of workers surveyed said that they preferred to work as individuals. Despite these preferences, the majority of workers also acknowledged that teamwork is important to their company’s success. If used strategically, incentives can have a positive effect on team performance. Most leaders tend to choose to recognize individuals over the team as a whole. The IRF postulates that this may be a result of individual successes being easier to observe and measure, rather than team performance. However, rewarding individuals doesn’t do a lot to improve the team’s performance, and there is a risk of creating jealousy or resentment. Rewarding an entire team can be tricky, but it can also be very beneficial to your organization. According to the IRF, team rewards tend to do a better job of improving performance than individual rewards. Many researchers have found that the best results come from a hybrid model of individual and group rewards, particularly when you have […]
Gamification Effects on Engagement
From consumer loyalty programs, to B2B channel partner programs, to company health and wellness programs, everyone is looking for ways to increase engagement. Most people know that having the right reward offerings and robust incentive management technology is important, but there’s another lesser-known element that can help increase your incentive program’s engagement: Gamification. Gamification is an online marketing technique that takes qualities of games (point scoring, competition, rules of play) and applies them to a company’s product or service – in this case, an incentive program. Examples of Gamification in an incentive program can include: Games – A promotion where winning game pieces are randomly seeded into the universe of common and/or losing game pieces. Collect & Win – Promotion requires participants to save game pieces to complete a phrase, picture, or puzzle. Match & Win – Promotion requires players to match a symbol on their game piece to the winning symbol on displays. Instant Win – A self-contained random chance promotion. Includes scratch off, peel off, scan and win games, online and 800 number call-in games. Instant win games provide instant gratification. Sweepstakes – a promotion in which the winners are selected by chance. Random Drawings – Consumer enters […]
Alternatives to Travel Incentives and Experiential Rewards
Experiential rewards have been one of the most desirable rewards among incentive program participants. Everyone loves winning a free vacation or tickets to a concert. However, with Covid-19 still making travel difficult or unappealing for most people, incentive program managers are looking for alternative ways to entice their participants. These can result in some creative things, like paying celebrities to appear in a work Zoom call for some team motivation. Still, there are many other options out there to maintain your incentive program’s engagement levels. Here are some possible alternatives to travel-based experiential rewards for your incentive programs. Fortunately, the pandemic has not dampened people’s fondness for gift cards and other cash equivalents. With a gift card, particularly one for a brand that offers online shopping, participants can enjoy their reward from the comfort of their home and pick something perfect for themselves. Also, if you go with a virtual gift card instead of a physical one, participants can be rewarded immediately, giving them that sweet feeling of instant gratification. The same goes for prepaid cards, which can also come in a virtual or physical form with your company’s custom branding. For internal programs, such as employee recognition programs or […]
