A busy new year has started. Incentive program managers are focusing forward on what will be important for their 2021 rewards programs. Fortunately, they don’t need to consult a magic 8 ball for insight. The Incentive Research Foundation (IRF) released their 2021 trends report, which has a great deal of data to help plan for the year ahead. We will go over some of their top findings. The IRF found that in 2020 merchandise was used by 68% of incentive programs, and gift card use rose 26% after the start of the COVID-19 pandemic. They predict that in 2021 there will be an increase of 33% for gift cards and 24% for merchandise. They also predict that later in the year, as the vaccine rolls out, there may be an increase in demand for experiential rewards. This is why in 2021 incentive program managers should seek out reward distributors with robust incentive offerings, which include cash-equivalents, such as gift cards and prepaid cards, as well as merchandise and experiential rewards. It appears that part of the secret to successful incentive programs is choice and personalization. The IRF found that things like branding and giving incentive program participants choices in what […]
Tag: 2021 Trends
2021 Trends For Market Research Incentive Programs
It’s 2021 and time to consider your New Year’s resolutions for your market research incentive program. Fortunately, you don’t have to start from scratch. Experts have looked at the current trends and made some predictions about what you need to focus on for your 2021 market research incentive program. Market research programs will be looking at updating their technology and reward management platforms. Good program management knows that they need quality technology that is up to date with current trends and able to handle robust program needs. 2021 is the perfect time to reevaluate your market research program technology. With how many ads and sources people have begging for their attention these days, it is harder than ever to attract new panelists and engage current ones. A market research program will have more success if it’s managers know how to engage with their panelists in a personal way and offer rewards that have perceived high value. Peoples’ time and attention is the currency of the day, and you need to make sure you’ve got something worth your panelists’ time. We can’t ignore the impact of COVID-19 and we will likely still be dealing with it through at least the first […]
