Health and wellness incentive programs are an important part of many companies’ wellness strategies. An incentive program is highly indicative of your workplace health and wellness program’s success. A good health and wellness program can decrease healthcare costs, improve employee morale, and bring a strong return on investment. Despite the many benefits of a health and wellness incentive program, when planning an incentive program, many organizations are concerned about the administrative burden of overseeing the many parts of a successful health and wellness incentive program. Incentive programs require so much more than just reward fulfillment. A health incentive program will need to be managed, goal completion has to be tracked, a redemption system has to be in place, health laws must be complied with, and data has to be examined to check the effectiveness of the program. This can leave companies wondering how to handle health and wellness incentive programs and deal with rewards management. The good news is, incentive management system technology is available to help make your health and wellness incentive programs perform effectively. Deploying new incentive reward technology can increase program effectiveness and take the stress out of program management. With the right health and wellness incentive […]
Tag: Incentive Management System
Should You Introduce New Technology Into Your Channel Sales Incentive Program?
No matter if your organization is just starting out, or has been using a channel sales incentive compensation program for years, the correct technology is key to your success. Does your current incentive management software come with too few incentive options to be effective to your channel marketing strategy? Have you run into security issues with your current technology? Is the user interface overly complicated or buggy? Are you being charged too much? You should consider upgrading your channel partner incentive program technology to improve your sales channel marketing program. Your incentive management system technology is the bedrock of your incentive program. If you don’t get the base right, the whole program will have problems. The right technology can lead to high ROI, program success, and greater channel partner satisfaction and engagement. The wrong technology can turn your incentive program into a giant money pit, swallowing up your profits and productivity. When you pick the wrong incentive program technology, your only return on investment will be stress. When comparing different incentive program technology providers, how do you figure out the best technology? There are many steps you can take to ensure you’re getting the best channel partner incentive management technology. […]
What to Look For When Comparing Market Research Incentive Program Technology Providers
Market research incentive programs are nothing new. An incentive program is highly indicative of your market research program’s success. A good market research program can decrease costs, improve relationships with panelists, and bring a strong return on investment. Despite the clear benefits of a market research incentive program, when creating an incentive program, many companies worry about the administrative burden of overseeing the various elements of a successful market research incentive program. Incentive programs require so much more than just reward fulfillment. An incentive program will need to be managed, goal completion has to be tracked, a redemption system has to be in place, and data has to be examined to check the effectiveness of the program. This can leave companies wondering how to handle market research incentive programs and deal with panel loyalty rewards management. Fortunately, incentive management system technology is available to help make your research incentive programs perform effectively. Deploying new incentive reward technology can increase responses and take the stress out of program management. With the right market research incentive program management technology, you will be well on your way to embracing all the sweet benefits of a research incentive program, without adding any extra stress. […]
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 […]
Choosing The Right Reward Management Technology
Whether it’s channel sales, health & wellness, loyalty, or a customer incentive program, the technology behind it has to fit the program’s needs. Shopping for the right reward management technology is an essential part of planning for any incentive program. Although there may be things you will need to customize, there are some standard features that should be included with your incentive management system. Standard Reward Management Software Features Member Profiles – Set up an infinite number of member accounts with vital personal data. Manage the virtual currency accounts of members in real-time and audit-proof. Admin CRM – You should have access to a comprehensive member dashboard that allows you to view and manage your member profile data and see specific data such as points balance statement, status level, points expiry dates, program creation, and more. Reports and Accounting – Regularly receive program reports to review the success of your program. System Users & Groups with Audit Tracking – You should be able to provide module access to users/user groups and define permission levels. Having control and audit-proof user activity records will help you identify any changes made to your program. Event-triggered Communications and Notifications – Good reward management software will let you set up […]
Market Research Incentives Strategies That Could Save You Thousands
The challenge that market researchers face is how to engage participants while keeping costs down. Utilizing an incentive program is a proven way to increase program participation and engage your users, but how do you keep program costs down? Short answer: Gamification and diverse, demographic-specific incentives. Take the case of one of All Digital Rewards Market Research clients. Our client had been running a cash-based incentive program for their market research panels. The program offered checks and prepaid cards, such as visa prepaid card rewards, as incentives for completing program tasks. There was consistent user engagement at least one to five times a month. Users had become habitual in their choices of the cash-equivalent rewards, and the program was proving to be expensive for our client. To decrease our client’s costs, we worked with them to enhance their current incentive program and transform it into a more cost-effective program without sacrificing engagement. First, we introduced a wide range of incentive reward products alongside the current cash-equivalent products as part of the marketplace for the points-based incentive management system. By adding the new rewards alongside the old cash-equivalent rewards, the users were able to view the new marketplace as an upgrade, […]
How To Start A Sales Incentive Program In 2019
Are you looking to find a new way to motivate your sales force in 2019? Consider implementing a sales incentive program! No matter what industry you’re involved in, incentive programs are an effective way to drive employee engagement. Here are some tips to get you started on your new year incentive program. Engage Your Employees Make sure your employees are engaged by your incentive program. The goal of a sales incentive program is to motivate your employees to engage in desired behavior. To ensure maximum engagement, make sure your program is relevant to your employees. Consult with experts who will be able to help you choose the most effective program types and rewards for your employee demographics. Plan Ahead It is important to have a solid plan in place before you launch your incentive program. To flesh out your plan ask yourself questions like: Don’t Just Focus On The Cost Of Individual Incentives It is easy for decision-makers to focus on the individual costs of incentives and become discouraged. However, if you work with an incentive agency, you can alter the costs. Incentive agencies only pay for rewards redeemed, which reduces costs and improves incentive programs’ ROI. Use The Right […]
Resources For Successful Loyalty Marketing Programs
Resources for Success Loyalty Marketing Programs focus on buyer retention and reward customers for their loyalty. Effective customer incentive programs combined with the right reward management system and the help of loyalty service providers can generate strong financial returns. There are several resources that can increase the effectiveness of Loyalty Marketing Programs. Prepaid Cards Prepaid cards are a favorite among participants in customer incentive programs. Prepaid cards are viewed like cash and can be spent almost anywhere. Loyalty service providers will commonly offer both virtual prepaid cards and physical prepaid cards as rewards for customer incentive programs. Real-Time Triggered Loyalty Messaging Loyalty technology can provide participants with instant, personalized, real-time messages during their participation with your consumer incentive program. These messages can create a highly personalized and improved experience when engaging with your loyalty program. Digital Rewards Digital rewards allow your customers to receive instant recognition for their participation in your customer incentive programs. Compared to physical rewards, which must often be shipped to participants, digital rewards allow customers to enjoy instant gratification. Digital reward vendors, like All Digital Rewards, can outfit your loyalty marketing programs with a wide range of digital rewards from recognized brands for your loyal customers […]
Reward Mix is Essential in a Successful Loyalty Program
Has your sales incentive program turned to loyalty rewards yet? Are you finding that you have good engagement from your channel partners with your current channel sales incentive program? Does your sales promotions need deeper engagement and a more personalized contact to drive loyalty? Or are you still using mass blast communications and gimmicks? If so, it’s time to look at a new way to expand on your current direct sales marketing and create a whole new way to excite and pique the interest of your sales channel. An excellent way to promote new engagement is by mixing it up with your reward program. Studies have shown that the people in your rewards programs are the ones who make the best and most profitable customers.* So, why not reward those sales’ teams that have been in the program longest or participated the most with a loyalty program that makes them happy and mixes up the rewards to provoke new interest and allegiance! A mixed arrangement regularly gives a truly necessary fit between the business prerequisites, spending plan, and reclamation strategy. Normally the way of the venture dictates if a physical offer piece or an electronic code that is dispersed […]
