When it comes to incentive prizes, there is one constant in every marketer’s toolkit: Prepaid reward cards like VISA and brand-name gift cards are still a participant favorite. If you don’t already use them but need to boost participation in a consumer promotion, you should. Prepaid cards have many advantages, including global acceptance, convenience of delivery and usage, and perceived value. They are still used by businesses in promotions to thank participants and boost participation. Here are some things to keep in mind while developing your incentive program, along with some reasons why picking a good prepaid reward card company is crucial. A prepaid card is practically a cash equivalent to your participants – easy to store and use. Another awesome bonus is that prepaid cards limit fraudulent activity. VISA Prepaid Card: Users able to use the card practically anywhere to make purchases, both in-store or online, just as they would with a debit or credit card. Gift Cards have numerous options: there are thousands of stores that offer gift cards in the US not to mention global options. Businesses can deliver rewards in a variety of ways, either digitally or by a physical card and participants can receive their […]
Tag: consumer promotions
Why Prepaid Reward Cards Continue to Increase Incentive Program Engagement
There is one constant in every marketer’s toolbox when it comes to incentive rewards – Prepaid Reward Cards such as; VISA and brand named Gift Cards are a still a favorite with participants. If you need to increase engagement in a consumer promotion and if you’re not using them – you should be. Some of the benefits that prepaid cards offer include ease of delivery and use perceived value, and being universally accepted. Businesses continue to use them in their promotions to reward participants and to increase engagement. Below are some facts to consider when creating your incentive and promotional strategy and why choosing the right prepaid reward card providers are important. Business can deliver rewards in a variety of ways, either digitally or by a physical card and participants can receive their reward when and how they like it. A prepaid card is practically a cash equivalent to your participants – easy to store and use. Another awesome bonus is that prepaid cards limit fraudulent activity. VISA Prepaid Card: Users able to use the card practically anywhere to make purchases, both in store or online, just as they would with a debit or credit card. Gift Cards have numerous […]
Why Consumers Love Prepaid Cards
The bottom line is, consumers love prepaid cards. But the question that keeps most wondering is, why? Could it be the simplicity they offer or that these easy to use cards are universally accepted? In this post, we are going to review why prepaid cards have become so popular when it comes to engaging a consumer. Today marketers everywhere innovate towards ease. The easier it is for a consumer to redeem a reward the better engagement a company receives. The important detail to remember to assure that this simple process is just that, simple. There are too many “simple” reward programs out there and they are far from. The more personal information they are required to provide, hoops they have to jump through to activate, and wait on a customer service hold for 20 minutes, the less inclined they are to redeem or use their reward. So long story short, as long as the process to redeem isn’t difficult, then you are on track to a successful program! Benefits: To wrap up why consumers love prepaid cards, the final take away is the simplicity of this incentive. Easy to redeem, easy to use, or even easy to give! “Branded […]
Quick Way To Solve Problems with Reward and Recognition Programs
Building loyalty with 5% more customers would lead to an increased average profit per customer of between 25% and 100% (The Loyalty Effect). Rewards and recognition are the tools to build that customer (and employee) loyalty. “Fully engaged” customers (those with a strong attachment to the brand or brand ambassadors) deliver a 23% premium over the average customer in market share of wallet, profitability, and revenue (Cap Gemini). Now, all of this is wonderful information. But, where do you bring this into play? How does your brand build customer loyalty with rewards and recognition? Read on for the 6 types of successful rewards and recognition using prepaid debit cards. Firstly, let’s discuss the successful use of prepaid cards in brand holiday buying. Oftentimes, you can’t walk into a store without them stating, “Sign up for our card today and save 40% on your purchase!” Although this tactic is used across the board, it typically works. People are willing to come into the store and purchase more for their money-especially if they can save on their year-end gifts. Next, there are multiple options for establishing rebate programs or even refunds options for coupons or membership qualities from that branded prepaid debit […]
The Truth About Initiating a Consumer Incentive Program
Roughly 12 million Americans used a prepaid debit card at least once a month and collectively loaded $65 billion to them. Prepaid cards can be an awesome tool for many different people. They are safer than cash and remove the threat of overdraft fees and bounced checks. According to a recent market research study, 96 percent of users of respondents said the cards were useful, and 94 percent would recommend a reloadable prepaid card to someone else. Prepaid cards are the top customer incentive of 2015. So what are some key points for developing a successful consumer incentive program? Read on for the top seven qualities in prepaid debit cards. Cash management is… just that! An option for managing your cash flow. This allows customers to put how much money they want to spend on the card before they go purchase. This makes spending easier for families to watch their budget and possibly manage to spend for young children. Other options allow consumers to earn points from specific products they purchase, such as gas, clothing, or possibly even groceries. Event marketing is a huge industry that physically draws people in and gives them an actual experience. By hosting an event […]
