Building loyalty among customers, employees, and partners is essential to business success, now more than ever. Incentives can be used to inspire loyalty and influence behaviors. Whether it’s experiential rewards, rebates, merchandise, e-rewards, such as e-gift cards, sweepstakes entries, or virtual gift cards, the right rewards for the right program can make all the difference. When building relationships with your customers, incentives increase brand loyalty and the likelihood of referrals. Loyal customers are 68% more likely to share your brand or business on social media if offered a reward for referrals and word-of-mouth marketing is important, even in our digital age. Referrals are one of the biggest strengths of developing a customer relationship. Offering referral incentives can help you gain those quality customers who talk about your company and it rewards them for spreading your business name. Merkle’s annual Loyalty Barometer Report found that points-based rewards programs are the most popular type of incentive program among consumers. Points-based incentives, particularly with rewards marketplaces are an excellent way to inspire customers. 85% of consumers surveyed for the report said they would like to be able to select the benefits and rewards they receive. This makes it important for companies to select […]
Tag: Incentive
Why You Need Virtual Incentives For Your Rewards Program
Virtual rewards are a fantastic, bordering on necessary, incentive for any rewards program. Why do virtual visa prepaid cards, digital gift card rewards, e-code redemptions, and other virtual rewards continue to dominate incentive rewards programs? Because whether they’re used for sales incentives, customer incentives, health and wellness, market research programs, or something else altogether, they meet a vital participant need: immediacy. Benefits of Virtual Incentives: Participants in your consumer incentives programs, channel partner incentive programs, or sales incentive plans all have one thing in common. None of them want to wait to be rewarded. With merchandise, bulk visa prepaid cards, or checks, your incentive program participants will have to wait, sometimes for weeks, from the time they redeem their reward to the time they receive it. Virtual gift card incentives and visa virtual cards don’t have that problem. When considering market research, consumer, or sales incentive program ideas, think about your demographics. Are virtual incentives a good fit for them? If so, look at your options. To properly offer virtual incentives for your points-based loyalty programs, sale incentive programs, customer incentive programs, or others, you will need a few things, to include the right reward options, a good reward management […]
Include a Prepaid Reward Card as the Incentive When Creating an Award-Winning Consumer Promotion
Consumer sales promotions are a great way to entice consumers to purchase a product – does your incentive reward provider offer Prepaid Rewards Cards? Did you know that prepaid Rewards Cards are known to be one of the top preferred reward types for consumer incentive programs? There are lots of reasons why consumers love prepaid cards and a quality prepaid reward card provider can help take your next consumer promotion to award-winning levels! But what are the real benefits of using VISA prepaid incentive reward card in you consumer promotions? The main benefit of a Prepaid Card is that the branding of the card can mirror your company. Why is this such an important factor as a business? It’s simple! This is a fantastic brand awareness tool and also encourages your consumers to keep coming back for more! While Prepaid Cards may be a great option for your Loyalty Program, there are several important details to consider, for example: These cards are super simple to become accustomed to, but it’s important that the cards are loaded and ready to activate the second your customer opens it. People want instant gratification. This also ensures that the customer will not have to deal […]
Top 7 Reasons Why Employees Steer Clear of Health and Wellness Programs and How to Reel Them Back In
Implementing a health and wellness program for your employees is an excellent strategy to engage and motivate employee retention. While these programs can offer great benefits such as health improvements, lowered health insurance costs, and increase productivity, they can also send up a red flag to a potential participating employee to run the other way. Listed below are the top 7 reasons why an employee may avoid a health and wellness program and how to resolve it. Problem: Over worked. Many employees feel work makes them tired, stressed and overworked. It makes sense that the health and wellness message is overlooked, especially when the employer is asking employees to participate in cutting back company costs. Solution: Avoid mentioning the benefits the company will reap and send a clear message that this program is for the employee and their health. *Tip: Offer paid lunches to those who participate in legitimate health care screenings on their lunch. Problem: Upper management doesn’t participate. This should go unsaid, but let’s face it, it’s been done. It gives off that “I can do what I want since I’m a manager vibe” and it can be offputting. When upper management doesn’t have to participate, and they […]
