Create an Effective Reward Redemption Program

BY Lucy Fang
Dec 15, 2016
program, plan, promotional, corporate, online, redemption, scheme, distribution, offer

In essence, the purpose of an incentive in a marketing plan is to impact the behavior of the end-user; anything that does not do this is simply a waste of money. So, what’s the best way to ensure you are not wasting money? Having a firm that specializes in and has a history of creating successful Reward Redemption Programs. All Digital Rewards designs, develops, and implements a highly effective reward redemption incentive program that builds brand value while engaging customers and employees.

When creating an incentive program, several factors need to be paid attention to.  First of all, you have to figure out who your target audience is – who exactly are you trying to influence.  Secondly, once you figure out who, you will need to know what you want to get those people to do.  Is it your sales team and are you trying to get them to know the products better so they can sell the items more efficiently?  Or perhaps it’s the corporate executives that are attending a trade show and you want them to view your website.  Each recipient will come with different tribulations.

Once your end-user and his or her behavior are determined, another area to look at is the actual rewards and how they break out financially.  You may think that’s it’s merely a focus on cost-per-incentive that needs to be evaluated but even the least expensive item will cost you and create high breakage if no one redeems the reward – or if the process is so convoluted that they can’t get their reward.  The later will create even more problems with PR if any of the disgruntled end-user take to social media and bash your program.

So you see, there are many factors to consider when rewarding your employees or clients. Hiring a firm that knows what to do and asks all the right questions is imperative to creating the best rewards program possible for your unique situation.  All Digital Rewards is ready to ask the right questions to create the best rewards program for you.

For more information about our Visa® Prepaid card programs and how the supporting STACK™ SaaS reward management platform can benefit your incentive program initiatives, call 866-415-7703 now or click on the button below to schedule a demo.