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. A study from the Incentive Research Foundation (IRF) found that top-performing technology companies prioritized the following features when designing an incentive plan: 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 […]
Tag: B2b2c
Gamification Effects on Engagement
From consumer loyalty programs, to B2B channel partner programs, to company health and wellness programs, everyone is looking for ways to increase engagement. Most people know that having the right reward offerings and robust incentive management technology is important, but there’s another lesser-known element that can help increase your incentive program’s engagement: Gamification. Gamification is an online marketing technique that takes qualities of games (point scoring, competition, rules of play) and applies them to a company’s product or service – in this case, an incentive program. Examples of Gamification in an incentive program can include: Games – A promotion where winning game pieces are randomly seeded into the universe of common and/or losing game pieces. Collect & Win – Promotion requires participants to save game pieces to complete a phrase, picture, or puzzle. Match & Win – Promotion requires players to match a symbol on their game piece to the winning symbol on displays. Instant Win – A self-contained random chance promotion. Includes scratch off, peel off, scan and win games, online and 800 number call-in games. Instant win games provide instant gratification. Sweepstakes – a promotion in which the winners are selected by chance. Random Drawings – Consumer enters […]
FIVE EASY WAYS TO CREATE A SUCCESSFUL B2B2C INCENTIVE PROGRAM
Incentive programs are driving the success of B2B2C businesses. B2B2C incentives are engaging business channel partners creating strong relationships between partners. According to statistics in a study from the Incentive Research Foundation (IRF), businesses that used a non-cash channel rewards program showed a 32% increase in total revenue and a 30% increase in market share. Here are five ways to create the perfect B2B2C Incentive program:Make sure to engage your participants, help them be the decision-makers. Offering a direct reward for a qualifying behavior will help you gain and maintain a long-term relationship with your channel partners. By allowing your participants to log into a reward site and pick their prize from among a variety of options gives them a feeling of empowerment. Structure your plan ahead of time with the correct processes because even the most expensive reward will be rejected if the system to redeem it is not user-friendly. A well-designed B2B2C incentive program should offer products and services enticing enough to impact behavior and also be structured to have a delivery system that meets budgetary and client expectations. The wrong incentive marketing agency will have long redemption processes which will cause participants frustration and will impact the […]
B2B2C Strategy for Channel Partner Incentive Programs
Channel partner relationships are essential for b2b2c business success. Building strong relationships that will motivate your channel sales team takes the right b2b2c strategy and sales team incentives. Incentives and rewards for sales personnel have been a cornerstone of successful B2b2c company motivation strategies. With the right incentive solutions and support structure, your channel sales partnerships will thrive. Many people have questions to ask about incentives when creating or revising channel sales incentive and recognition programs. Some wonder when looking at their channel partner performance metrics, why incentives don’t work, or don’t seem to work with their current program. Others want to know if there’s really a strong tie between incentives, motivation, and workplace performance. Some are looking for rewards and recognition ideas and channel sales incentives examples. Studies have shown that if a partner doesn’t start to market and sell your offering within the first 90 days of recruitment, it is very likely that they never will. Statistics show that by providing incentives and rewards for your channel sales partners, you help increase motivation and productivity, improving your ROI. It is true that some people believe that higher salaries are better than other incentives for motivating workers, but a […]
What kind of incentive technology you need for every type of incentive & rewards programs
Do you have a market research incentive program? Are you planning to start a channel partner reward program? Do you have a rebate incentive program for your customers? How about a loyalty program? No matter what kind of incentive program you have or are planning on, having customizable incentives incentive technology solutions can make a huge difference in your program’s success. Here are some things to consider when looking for incentive technology solutions for a variety of different types of rewards programs. For your consumers rebates incentive program, you will want technology that supports a customized digital rebate center. This will allow your customers to have instant access to their rebate options while enforcing your company’s branding and messaging. On the back end, your rebate technology should give you an admin Interface that provides a high-level view of quality control, communications, processing, validation, fulfillment, and reporting and analytics. With the right rebate technology, both you and your consumers will have a positive experience. Your relationship with your channel partners and sales representatives is essential to your b2b2c business success. Because of this, your technology for your channel sales incentive programs needs to be top-notch. You want an automated easy to […]
