Rewards Drive Business Employees will work harder to meet their annual goals if an incentive is attached, while customers will repeatedly return to your business if they earn rewards. But all reward systems aren’t built the same. Your company needs to offer customers, employees, and other stakeholders the right mix of incentives in your gift card programs. Well-designed programs allow recipients to choose anything from a gift card to their favorite restaurant to a vacation at the destination of their choice. In recent years, virtual incentives have become a must-have component of every incentive system. Let’s dive a bit deeper into what’s making them so popular. Digital Rewards Virtual rewards are really popular with incentives and rewards for users. And it’s easy to see why. Virtual incentives, like digital gift cards, can be used almost immediately and give a sense of instant gratification. Virtual rewards are emailed to the recipient as soon as they earn it through the All Digital Rewards instant redemption process. Digital reward programs operate similarly to gift cards because users can activate their gift online or by phone to use immediately. The effectiveness of your digital or virtual incentives depends on the type of virtual reward […]
Tag: incentive gift cards
Add Some Fresh Flavor to Your Incentive Program
Are you looking to add some fresh flavor to your incentives rewards programs? Whether it is for market research payment incentives programs, customer incentive programs, employee health and wellness incentive programs, or a channel partner program, there is always more you can do to make your incentives rewards program better. Some of the best ways to kick it up a notch include adding sweepstakes/instant win games, choosing the right rewards, and increasing motivation. Gamification is extremely popular. Most companies are trying to find ways to incorporate some form of gamification into their incentive programs through things like instant win game applications or sweepstakes programs. The important thing with gamification is to make sure you have good sweepstake or instant win game software and that your instant win game providers are going to give you the support you need. Instant win game technology and sweepstakes technology are essential to your success. Rewards are a key part of every incentive program. prize incentive companies will often point out five key reward types. Cash equivalents such as virtual visa prepaid cards, physical prepaid cards, and checks are a favorite among consumers. A good visa prepaid card provider will be able to offer bulk […]
2020 Incentive Trends and What Incentive Trends to Expect for 2021 – ADR
2020 has been a crazy year full of changes and surprises. In the incentive industry, some interesting things have been happening. The Incentive Research Foundation (IRF) recently released their report on the Industry Outlook for 2021, which included some trends from 2020 and what they are predicting for 2021. When IRF conducted their 2019, 85% of companies expected to have a strong financial performance in 2020. The IRF’s new study showed that only 64% believe their companies will have a strong financial performance in 2021 and 50% think that the U.S. economic outlook is strong for 2021. These percentages are still reasonably optimistic, considering the situation with COVID-19. There was a 10% rise in incentive program cancellations in 2019 from 18% to 28%. The rate of incentive program cancellation in 2020 remained fairly steady at 29%. The IRF study showed an increase in preference for gift cards and merchandise, but a sharp, but not unexpected, decrease in offerings of experiential rewards. Many people still desire experiential rewards, but most program managers have chosen to exercise caution in light of the COVID-19 pandemic. The IRF believes that the distribution and adoption of COVID-19 vaccines may cause these trends to change in […]
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: Instantly issued participants Can’t be lost in the mail Easy for your participants to use No production cost 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, […]
How To Spice Up Your Incentive Program In 2020
2020 is the year to add some fresh flavor to your incentives rewards programs. Whether it is for customer incentive programs, market research payment incentives programs, health and wellness incentive programs, or a channel partner program, there is always more you can do to make your incentives rewards program better. Some of the best ways to spice up your incentive programs include choosing the right rewards, adding sweepstakes/instant win games, and increasing motivation. Rewards are a key part of every incentive program. prize incentive companies will often point out five key reward types. Cash Equivalents Incentive Gift Cards Digital Rewards Experiential rewards Merchandise Cash equivalents such as virtual visa prepaid cards, physical prepaid cards, and checks are a favorite among consumers. A good visa prepaid card provider will be able to offer bulk prepaid cards and custom branding for your company’s incentive program. Gift card rewards, whether physical or digital, allow your participants to enjoy shopping with top name brands. Like cash equivalents, gift cards are an incentive program favorite. Digital rewards give participants the pleasure of instant gratification, making them a great way to update your reward program offerings. Experiential rewards allow participants to create memories and can include […]
Using Instant Win Games in 2020
Instant win games are incredibly successful in getting new customers and companies to visit your site, come to your establishment, give you more data and information, and even increase employee recruitment and sales. You can use fun and exciting elements like a Plinko game or mobile phone scratch off and spin to win games where the participant enjoys instant gratification. Games can alternatively be over a period of time, helping to deepen engagement. The success of these games has always led to more games being used more often and a healthier-looking bottom line. Instant win games success involves having the right incentive rewards, planning for the right instant win game systems, using the right instant win game technology, and working with the right instant win game companies. Incentive drawings are designed and deployed to impact participants’ behavior and are meant to engage them with an opportunity to win an offered high perceived value that is enticing enough to impact the participants’ behavior. This is part of why it is important to set up your program correctly and to work with instant win game prize incentive suppliers to make sure that you have the right prizes to excite your participants, whether […]
2020 Incentive Program Trends
All Digital Rewards is committed to providing you with a dynamic, and engaging program that will meet your company’s goals. For more information on how All Digital Reward can help you with your 2020 incentive program call 866-415-7703 now or click on the button below to schedule a demo. It’s the New Year, and it’s time for your company to consider how you will move your business forward in 2020. You are out there looking at all the new tools available to you and finding all the best solutions to meet your business’s most significant challenges and upgrade your incentive programs. There are a lot of changes coming in 2020 and many trends to look forward to and plan for. Here are some of the top incentive and reward program trends for 2020. Whether for customer incentive programs, channel sales incentive plans, market research incentives, or anything else. Digital rewards are a trend that keeps going. Digital rewards can include electronic gift card incentives for top-rated brands (Target, Landry’s, Walmart, Sephora, Amazon, Best Buy, etc.), virtual visa prepaid cards, audiobooks or video service subscriptions or credits (Fandango, audible, etc.) and so much more. Digital rewards can be used quickly and […]
Use Gift Cards For Channel Sales Success
How effective are gift cards in improving channel sales incentive programs participation? Gift card incentives are staples of incentive marketplaces and are highly recommended by channel partner incentive vendors. The Incentive Research Foundation’s quarterly academic review from fall 2019 reviewed the effectiveness of gift cards in incentive programs and found that Gift cards are one of the best non-cash incentive rewards offerings to use when creating an incentive program. The IRF quarterly academic review found that people tend to mentally think of gift cards as a windfall, rather than money that has to be spent on responsibilities like bills, or groceries. This makes them an incredibly appealing option for incentive program participants as they will use them to get a treat for themselves. Gift cards have all of the benefits usually associated with cash incentives. High-quality sales incentive plans will prioritize offering incentive gift cards or prepaid cards, such as a VISA virtual card, in their sales incentive offerings selection. Good channel partner incentive suppliers will offer and potentially recommend gift cards along with bulk visa prepaid cards and other cash-based incentives. Gift card incentives can encourage better workplace outcomes and positive behaviors among participants. When looking at sales incentive […]
Why Your Next Incentive Program Needs Virtual Rewards
The best sales incentive plans, rebate incentives, customer incentive programs, and health and wellness incentive programs will almost always offer some form of virtual rewards. An important consideration is the time-frame of a virtual reward. A virtual prize is an incentive reward that is awarded immediately as a reward for an action or an event undertaken by a participant and then delivered via a digital medium. Virtual rewards allow for instant gratification, which can increase the feelings of satisfaction from your participants. The effectiveness of your digital or virtual incentives depends on the nature of the virtual reward and how valuable it is perceived to be by participants. Virtual rewards come in many forms; some of the most common are: Virtual gift card rewards, visa virtual cards, instant win games, and sweepstakes entries. Virtual incentive rewards such as virtual visa prepaid card rewards. These are a solid choice for incentives as they are viewed as a cash equivalent by incentive program participants. Gift cards have many of the same benefits and are often viewed as a windfall, which allows them to spoil themselves instead of having to be responsible with their spending. Primary Benefits of Virtual Incentives: Sweepstakes and instant […]
