Are you ready to take your reward program management to the next level?
It’s time to discover what it takes to create, launch, and manage a successful rewards program – Technology! Developing an effective rewards program strategy is just one part of creating a reward incentive program. You have to think beyond the types of rewards offered in your program. It is essential that you make sure you find the right rewards program provider and management incentive technology to ensure your program’s ease, transparency, performance, and success. It is every bit as important as selecting the right rewards to offer
A fully custom incentive technology solution that will work for your program’s needs is the best option to include at your program’s launch, but it can be difficult to find something the budget will allow, which might make you avoid exploring the best available options in today’s reward technology market space. But what if we told you that you could have an out-of-the-box program management tool tailored to your specific program needs at an affordable price?
The following is what you can expect from All Digital Rewards, a leading reward management technology provider, and what you should be on the lookout for when shopping around for other providers.
Essentials to Consider in Reward Program Management Technology
Are the reward service providers you are considering interested in helping you build relationships centered on customer value and engagement or just an out-of-the-box points or discounts program?
Run don’t walk from a packaged platform that requires configuration – not customization – to meet your requirements. The boxed platforms might get up faster, but with today’s advanced technologies, there is no need for a boxed solution. If the provider’s core technology is built employing advanced microservices (not older legacy technologies), you can meet today’s customer’s preferences.
Does the rewards service provider have the technology, advanced analytics, and expertise to make your program successful?
Selecting a big-name rewards provider is not necessarily in a company’s best interest anymore in today’s evolving technical climate. Response time is slow, and for the most part, their systems are built on legacy technologies, and to accommodate today’s consumer preferences they have had to incorporate many workarounds. This is the reason for their inability to provide real customization. To put it in a visual perspective – think of the big box rewards provider as a 5,000-passenger cruise liner and a fully customizable provider of a 500-passenger elite yacht. The cruise liner must provide food, activities, and amenities geared to the masses, whereas the yacht is built to recognize the differentiators that are needed to construct a personalized rewards experience to extend the lifetime value of the cruiser.
Make sure your vendor understands more vital services, such as predictive and industry-specific analytical models.
Think about the cruise line scenario. Which ship do you think can turn on a dime when market conditions change, or you have a need for a feature update or to make a change to meet the needs of a customer?
Are they employing a psychological approach to rewards strategy or are their processes being dragged down by lagging technological capabilities?
Self-service — Is the service provider’s platform a self-service technology platform? Can it provide flexibility and responsiveness?
Do they understand the marketing strategies necessary to drive the technologies and promotions to support your various channel, sales, consumer, and employee initiatives?
Will you have to go to multiple resources to provide relevant rewards? Or does the provider have merchandise, digital rewards, Visa® prepaid cards, gift cards, and travel?
Five Top Program Features to Look For:
Ability to receive/see real-time analytics and comprehensive reporting to help measure your program’s success.
The provider should be able to accommodate full Admin access for you and any other users who will need to get in to control the program.
Your Own Branded Marketplace/Participant Portal
A marketplace with your branding is crucial for your participants so they don’t feel like they are being sent to some third party who will release their information.
Extensive Reward Offerings
Extensive, but not excessive. Sometimes too many rewards are overwhelming. Offerings that provide the latest trending and beneficial items for your participants.
Communication between you and your incentive program management provider is vital to a successful program. Have the ability to reach a person for a question or to help solve a dilemma; you should never have to sit on hold or communicate with a robot.
Be sure to include All Digital Rewards, a leader in reward management technology, when procuring a new provider. ADR offers a customizable experience at an affordable price. Our rewards reward management platform, SaaS with Stack ™ and incentive and reward issuance applications and technologies meet the needs of today’s channel, consumer, sales, and employee rewards initiatives. Our advanced microservices and dynamic technologies are cloud-based and built to evolve with the changing needs of your business. We have a one-stop approach to incentives and rewards giving clients the biggest bang for their buck with an extensive offering of merchandise, digital rewards, Visa® prepaid cards, gift cards, and travel. All Digital Rewards will assist you in building a strategy to identify key customer differentiators and help you match the appropriate incentive. The best part is it is done with automated technology!
To learn more about driving higher engagement through Reward Management Technology Schedule a Demo today!