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 initiative are cost-effective, easy and an incredible way to boost profitability. The more you engage your 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! 1: Strategy 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. 2: Research Research is the next step for your channel sales incentive program. If there is an existing program, you should identify any challenges associated with that program in order to avoid or mitigate […]
Category: Incentive Program
Resources For Successful Loyalty Marketing Programs
Resources for Success Loyalty Marketing Programs focus on buyer retention and reward customers for their loyalty. Effective customer incentive programs combined with the right reward management system and the help of loyalty service providers can generate strong financial returns. There are several resources that can increase the effectiveness of Loyalty Marketing Programs. Prepaid Cards Prepaid cards are a favorite among participants in customer incentive programs. Prepaid cards are viewed like cash and can be spent almost anywhere. Loyalty service providers will commonly offer both virtual prepaid cards and physical prepaid cards as rewards for customer incentive programs. Real-Time Triggered Loyalty Messaging Loyalty technology can provide participants with instant, personalized, real-time messages during their participation with your consumer incentive program. These messages can create a highly personalized and improved experience when engaging with your loyalty program. Digital Rewards Digital rewards allow your customers to receive instant recognition for their participation in your customer incentive programs. Compared to physical rewards, which must often be shipped to participants, digital rewards allow customers to enjoy instant gratification. Digital reward vendors, like All Digital Rewards, can outfit your loyalty marketing programs with a wide range of digital rewards from recognized brands for your loyal customers […]
Live Well Reward ™ Card – Health Reward Card backed by VISA
Health and wellness incentive programs have been proven to be an effective way to create a healthier, more productive workplace. One of the most popular ways to reward health and wellness program participants are with Health Benefit Cards ie. prepaid rewards cards. These cards are popular because of their ease of use, perceived value, and universal acceptance. Additionally, health and wellness incentive programs that use prepaid cards for their rewards show high levels of engagement amongst participants. A quality health and wellness incentive rewards program management company can create fully customized and branded rewards cards for your company’s health and wellness incentive program. At All Digital Rewards, we recognize and appreciate your commitment to improving your participant’s health and wellness. With our Live Well Reward ™ card you can go beyond traditional health reward cards. Live Well Reward ™ cards allow you to reward your health and wellness program participants as they complete program objectives, such as check-ups, screenings, or wellness visits. Each time participants complete their objectives, cash will be added to their Live Well Reward ™ card, which they can then spend like using a debit card. We partner with Visa® to offer a wide variety of prepaid […]
Creating Healthier Outcomes in Health Plan Related Participatory Programs
Health and wellness incentive and rewards programs have consistently proved useful in engaging behaviors that improving health, moral, and efficiency in the workplace. However, there are legal issues that organizations must consider when planning out a Health Participatory programs. Navigating the rules and regulations of a health and wellness incentive program may seem daunting, but in most cases, a health and wellness incentive provider would tell you that the primary legal requirements can be summed up in five general rules. The five general rules for health and wellness incentive programs included: When creating a health and wellness incentive program, one of the requirements you will have to meet will be ensuring that your rewards and incentives do not exceed the maximum amount legally allowable for the participant. In other words, your rewards will have to stay below a certain percentage of coverage cost. Both the Americans With Disabilities Act (ADA) and the Health Insurance Portability and Accountability Act (HIPAA) have specific rules that are related to the maximum reward allowed. Under the Americans with Disabilities Act, the maximum reward for a health and wellness program is limited to 30% of the cost of employee-only coverage. The 30% includes both financial […]
Exploring Health and Wellness Program Types. Incentive and Reward Program Series I
Many employers seek to foster a healthy, productive workplace using a health and wellness incentive program. These incentive programs have proved to be highly effective in creating a healthier workplace and boosting employee morale. An important part of any health and wellness rewards program is navigating the laws and regulations that are applicable to your particular program and whether or not there is a need to apply technology for the reward incentive management and the help of an incentive provider for the management and distribution of the program. Employers usually choose one of four main types of health and wellness programs when creating their incentive programs. Each program has different features, legal requirements and to keep in mind. In our health and wellness compliance blog series we will explore each of these four main program types. In this first blog of our series, we will be discussing Type 1 Programs: General Educational or Participatory & not Health Plan-Related Incentive Program. Programs that fall under Type 1 focus on educating their employees or offering participation-based programs that are not part of the company’s health care plan. An important thing with these programs is that they are voluntary in nature. These programs […]
Is Your Health and Wellness Incentive Program Compliant?
A health and wellness incentive program can significantly contribute to a healthier and more productive workplace. When designing a quality health and wellness incentive program, and thinking about utilizing rewards and incentives as part of your program, it is essential to ensure that your program is compliant with all legal requirements applicable to your particular type of health and wellness incentive program. There are four main types of health and wellness programs we are going to review in this article. Each type of health and wellness program has its unique features and various applicable laws. The four program types we will be considering include: General educational or informational programs are designed in such a way as to provide general health education and information to employees and, on occasion, their families. These voluntary programs make educational information available to employees without requiring the employee to access the information or engage in an activity. These general education programs are not individually tailored to employees, and they do not provide any medical care. Participatory programs that are not health plan-related are created with the intent of encouraging employees and occasionally family members to make healthy lifestyle choices, but they do more than merely […]
Include a Prepaid Reward Card as the Incentive When Creating an Award-Winning Consumer Promotion
Consumer sales promotions are a great way to entice consumers to purchase a product – does your incentive reward provider offer Prepaid Rewards Cards? Did you know that prepaid Rewards Cards are known to be one of the top preferred reward types for consumer incentive programs? There are lots of reasons why consumers love prepaid cards and a quality prepaid reward card provider can help take your next consumer promotion to award-winning levels! But what are the real benefits of using VISA prepaid incentive reward card in you consumer promotions? The main benefit of a Prepaid Card is that the branding of the card can mirror your company. Why is this such an important factor as a business? It’s simple! This is a fantastic brand awareness tool and also encourages your consumers to keep coming back for more! While Prepaid Cards may be a great option for your Loyalty Program, there are several important details to consider, for example: These cards are super simple to become accustomed to, but it’s important that the cards are loaded and ready to activate the second your customer opens it. People want instant gratification. This also ensures that the customer will not have to deal […]
Why Prepaid Reward Cards Continue to Increase Incentive Program Engagement
There is one constant in every marketer’s toolbox when it comes to incentive rewards – Prepaid Reward Cards such as; VISA and brand named Gift Cards are a still a favorite with participants. If you need to increase engagement in a consumer promotion and if you’re not using them – you should be. Some of the benefits that prepaid cards offer include ease of delivery and use perceived value, and being universally accepted. Businesses continue to use them in their promotions to reward participants and to increase engagement. Below are some facts to consider when creating your incentive and promotional strategy and why choosing the right prepaid reward card providers are important. Business can deliver rewards in a variety of ways, either digitally or by a physical card and participants can receive their reward when and how they like it. A prepaid card is practically a cash equivalent to your participants – easy to store and use. Another awesome bonus is that prepaid cards limit fraudulent activity. VISA Prepaid Card: Users able to use the card practically anywhere to make purchases, both in store or online, just as they would with a debit or credit card. Gift Cards have numerous […]
A Rewarding Experience – The Building Blocks of a Successful Panel Loyalty Program
Panel loyalty programs increase research firm’s panelist retention, survey frequency, and panelist acquisition programs, making them foundational in increasing your research firm’s profitability and revenue. An effective panel incentive program can build brand advocacy and increase the lifetime value of the panelists. The four basic building blocks when creating an effective panel loyalty program strategy include objectives, gaining program support, rewarding participants and measuring the program. There are a few steps you must take when creating your panel loyalty program. When preparing for a panel incentive initiative, panel managers often face roadblocks in the approval phase of their proposal. Be prepared to show upper management that you have a sound business case, including measurable and accurate metrics. Loyalty incentive programs have proven vital in cultivating and rewarding repeat panelists. You must ensure your loyalty program will be valuable to your key stakeholders. With a strong plan in place with clear financial objectives, management is more likely to understand the benefits of your program and see that it warrants their support. When in the program design phase, take the following steps: There are several types of incentives to select from, including: Pick incentives that fit your budget and will motivate your […]
Unlock the Power of Loyalty Management Systems
Enhancing Customer Engagement and Retention Strategies Loyalty management systems have evolved beyond mere earn-and-redeem processes in the fast-paced digital landscape. Today, they are pivotal in driving customer engagement, encouraging brand loyalty, and offering valuable insights into customer behavior. It is important to understand the need for modern loyalty software to provide maximum flexibility and intuitive user interfaces, ultimately empowering businesses to achieve their engagement targets and strategic objectives effortlessly. Why Loyalty Management Systems Matter To create successful loyalty programs, businesses require feature-rich and flexible loyalty software. This software should facilitate quick program setup, effective management, and seamless customer engagement. The system’s key features are essential in achieving these goals, including member account management, targeted promotions, status levels, benefits, and support for multiple currencies. Understanding the Core Features Now that we have established the importance of an ideal loyalty management system let’s delve into the essential top-tier features that should be included. At All Digital Rewards (ADR), we provide comprehensive digital rewards and incentives recommendations, ensuring mutual benefits for your customers and your business. User Management: Look for a platform that provides robust user management capabilities, including member profiles that allow you to gather and track important customer information. With role-based […]
How to Calculate Loyalty Program Return
Loyalty programs can generate strong financial returns by engaging guests by creating powerful incentives that encourage an increase in the frequency of visits, spending, and advocacy. But before you set out to develop a loyalty program that will help you improve your incentive program customer spending and visit frequency rate, you need to ask yourself several questions: How will the benefits offset the program costs? What costs and revenue do I include when calculating my return? Revenue More units bought More visits Promotions Costs Loyalty management technology Services of a loyalty program provider Product costs Reward costs Once you find the correct balance between your cost structure and your customer’s preferences, you can achieve success and improve upon your program’s return and only then will you be able to understand how to manage your program indicators, including the applicable costs and revenues. Understanding the indicators involved in the return aspect of your loyalty program ROI will assist you in creating a plan to maximize that return. A well-designed loyalty program will motivate customers to visit frequently and spend more with you during each visit. In addition to revenue generated from a core program, with the data collected, you will be […]
Start The New Year With a Winning Wellness Program
It’s that time, setting better intentions for ourselves to get healthy. Whether it be going to the gym more or eating better, which are literally the top two resolutions the general public gravitates towards, and we’ve got the research to prove it (see the infographic below)! But let’s get to the nitty-gritty of why 2018 is the year to cultivate a winning wellness program. Source: Accelerant Research As the wellness industry continues to evolve (now grossing a whopping $6 billion), it’s becoming more transparent, and providing more information that is readily available for the general population, we can see now how important health and wellness plays in our daily lives, not only for current state of well being, but there is proven research that shows increase in work productivity/performance, less stress-more happiness, and life longevity. So many wonderful benefits and a better quality of life can be achieved with a simple health and wellness program, and the working men and women are taking notice. “More than three-quarters of job seekers say benefits are “very important” when considering a job offer, and 69% say they might choose one job over another if it offered better benefits.”-Source: Spring Buk. Which is why […]
