The world is going digital. Everywhere you look, there seems to be someone Googling something, searching for information, directions, and posting a tweet. Businesses are following suit and going digital as well. This not only means putting their information online but also offering digital rewards to help achieve success in their incentive programs.
What is an incentive program?
Successful and effective incentive programs are promotions or programs conducted by a business or organization whose core goal is to motivate behavioral outcomes from its participants. They have clearly defined goals, established rules, achievable and desirable rewards that leverage risk, center effort on goal commitment, and may have elements of competition as well as other aspects. Participants must be able to track their progress to stay motivated. They should see benchmarks as they are achieved and receive regular updates and notifications to understand how close they are to their goal.
What are digital rewards?
Digital rewards are rewards that are delivered via an encrypted link or QR code as enticements to motivate behavioral outcomes and increase engagement with a targeted audience. Digital rewards offer incentive program managers flexible delivery transfer options and access to real-time reporting and analytics. This type of reward is generally accessed instantly, easy to use, and the redemption process is encrypted for a secure transfer to the qualifying participants.
How can you use digital rewards?
Digital rewards are used commonly with incentive program schemes such as instant win games, sweepstakes, point accrual, and code redemption programs. They are designed to motivate consumers to fulfill an action or to complete a qualifying behavior. Once the action is completed, the participant is issued points, a token/code to redeem in a game or claim a reward product. It’s quite simple, and it works.
The rewards issued through this digital process range from name-brand gift cards, prepaid cards, merchandise, and experiential. The process starts with the participant receiving a text, email, or completing a scan or form. The digital part of the process is what ties the reward to simplified reward issuance and real-time reporting. Possibilities for types of rewards attached to the digital process are endless when it comes to getting your participants involved, and working with the right technology provider ensures a frictionless process for redemption. What rewards can your company offer?
Constantly review the participant engagement to achieve their maximum potential. Change rewards delivery mechanisms based on program and participant preferences. Be sure to not seem spammy with overly enthusiastic in communications and notifications. Make sure your program includes well-thought-out scripts and touchpoints.
Digital rewards not only can help with the lifetime value of your participants with retention – it’s a great way to acquire new customers. Now that you better understand digital rewards start your digital journey by contacting the team at All Digital Rewards.