In today’s increasingly digital world, managers of incentive programs must find ways to provide rewards that meet and exceed the expectations of their participants. Skilled incentive program managers and rewards companies are always searching for more meaningful incentives for their program participants.
Digital rewards can be a critical component of B2B, B2C, B2B2C, employee incentive, wellness reward programs, and more.
But what makes a powerful rewards program? Here are a few best practices.
Top-Performing Companies’ Incentive Strategies
A study from the Incentive Research Foundation (IRF) found that top-performing technology companies prioritized the following features when designing an incentive plan:
- Flexibility
- High levels of engagement
- Easy redemption experience
- High perceived value rewards
- Reach all participants
Prepaid digital reward solutions make it easy to build and operate programs that embody all of those characteristics. Gift card options were a favorite form of reward among companies featured in the study.
Fortunately, companies don’t need to decide on the reward mix on their own and purchase them on an ad hoc business. Both gift card and digital prepaid card rewards can be provided by a reward supply company. Once a company chooses a provider for their incentive program, the rewards can be seamlessly integrated into a rewards marketplace as easy-to-redeem virtual gift cards and custom prepaid debit cards.
Participants will be happy prepaid cards and gift cards are available to them, as these are high perceived value rewards. They also have the added benefit of instant redemption since they are in digital form.
Don’t Ignore the Additional Services
Modern incentive plan managers are becoming increasingly savvy when evaluating vendors. In addition to the characteristics mentioned above, managers also desire a range of additional services, such as:
- Easy rewards distribution
- A simple process for participants to activate prepaid card and gift card rewards
- Reward program customization options
- Program security
- Support
With prepaid digital reward solutions in place, participants shouldn’t have a hard time figuring out how to activate Visa prepaid cards or eGift card rewards. This will create higher levels of engagement among participants.
Companies can also customize their plan to reinforce their brand every time a participant receives a digital reward. This includes embedding the company logo on the reward participants receive as well as any brand messaging.
Managers also cannot ignore the security of the program. If participants feel as though their privacy is at risk, they could opt out of it. Members of the company’s cybersecurity team also want to feel confident the software provider has taken all precautions to prevent cyber threats.
Prepaid digital reward solutions should also offer participants support if they encounter obstacles when attempting to use the reward they received. The support available from an incentive program technology provider will allow for changes and help to be provided quickly to ensure a positive experience, both for program administrators and participants.
Digital Incentive Solutions For You
If you’re looking for a partner to optimize your company’s incentive plan, All Digital Rewards can help. We have an extensive offering of prepaid digital solutions for incentive and reward programs that can meet your company’s stakeholders’ incentive payout goals. Whether you are looking to reward or incentivize your employees, add new customers, or increase the loyalty of existing users, our prepaid card solutions can serve your needs.
Card Programs Types Available:
- Open and Closed Loop
- Standard, Semi-Custom, Custom
- Virtual and Physical Prepaid Reward Card
- Visa® and Mastercard®
- Name Brand Gift Cards
- Reloadable – Virtual and Physical
- Merchant Restricted Access
- Multiple Cards Per Card Carrier
- Multiple Inserts Per Envelope
Our prepaid digital solutions and physical cards can be co-branded with your company’s logo and artwork. We offer bulk custom, personalized prepaid debit cards delivered as a physical reward card at an event, in a mailer, or virtually online.
We partner with Visa® and Mastercard® to offer a wide variety of physical and virtual prepaid cards that can be fully branded and personalized. ADR also offers both digital and physical gift cards from over 300 popular brands.
If your program needs to include integration into an existing CRM and a seamless user experience, our reward API, Reward WIZARD™, will give you easy access to a highly responsive, end-to-end solution.
Call the team at ADR and we will help guide you to select the right prepaid digital solution or gift card product to best match your corporate incentive objectives. This will help drive the behavior of your participants to achieve the best results at a price point your organization can afford.
For more information on our Prepaid cards, EZEPIC™ gift card mall and the extensive offering of top brand gift card suppliers, our STACK™ SaaS platform applications that support them can benefit your incentive program initiatives, call 866-415-7703 now or click on the button below to schedule a demo.
