A busy new year has started. Incentive program managers are focusing forward on what will be important for their 2021 rewards programs. Fortunately, they don’t need to consult a magic 8 ball for insight. The Incentive Research Foundation (IRF) released their 2021 trends report, which has a great deal of data to help plan for the year ahead. We will go over some of their top findings. The IRF found that in 2020 merchandise was used by 68% of incentive programs, and gift card use rose 26% after the start of the COVID-19 pandemic. They predict that in 2021 there will be an increase of 33% for gift cards and 24% for merchandise. They also predict that later in the year, as the vaccine rolls out, there may be an increase in demand for experiential rewards. This is why in 2021 incentive program managers should seek out reward distributors with robust incentive offerings, which include cash-equivalents, such as gift cards and prepaid cards, as well as merchandise and experiential rewards. It appears that part of the secret to successful incentive programs is choice and personalization. The IRF found that things like branding and giving incentive program participants choices in what […]
Tag: Incentive Program Management Technology
Why your channel strategy should include introducing new incentive technology
Whether you’re starting your first channel sales incentive program, or your company has been using an incentive program for years, choosing the right technology is essential to your success. Does your current incentive management software adequately support your channel marketing strategy? Does it have enough incentives for sales team members to choose from such as gift card rewards, merchandise, and virtual rewards? How ell does it handle security issues? Is the user interface clunky or overly complicated? Are you paying too much? It may be time to consider upgrading your channel partner incentive program technology. Your incentive program channel sales management technology is the core of your incentive program. If the foundation isn’t good, the whole thing will have problems. The right choice of technology can lead to success, high ROI, and greater channel partner engagement and satisfaction. The wrong technology can turn your incentive program into a giant money pit, swallowing up your cash and productivity. When you pick the wrong incentive technology, your only return on investment will be stress. How do you pick the best technology for your organization when comparing different incentive program technology providers? There are many things you can do to make sure you’re […]
Comparing The Benefits of Introducing New Technology Into Your Channel Partner Incentive Program
Whether your company has been using an incentive program for years, or you’re starting your first one, the right technology is key. Does your current incentive management software come with too few incentive options for your channel partners? Have you run into security issues? Is the user interface clunky or overly complicated? Are you paying too much? If you answered yes to any of these questions, you may want to consider upgrading your channel partner incentive program technology. Your incentive program management technology is the foundation of your incentive program. If the foundation isn’t good, the whole thing will have problems. The right technology can lead to success, high ROI, and greater channel partner satisfaction and engagement. The wrong technology can turn your incentive program into a giant sinkhole, swallowing up your money and productivity. When you pick the wrong incentive program technology, your only return on investment will be stress. How do you pick the right technology when comparing different incentive program technology providers? There are several things you can do to ensure you’re getting the right channel partner incentive management technology. You want to consider all the features and benefits offered by the incentive program technology providers you […]
Incentive Management Technology – Why is it Important?
We thought so, and we’re glad you’re exploring what it takes to create, launch and manage a successful incentive program – Technology! Developing a well thought out incentive program strategy is just one aspect of creating a reward incentive program. Thinking beyond the types of the rewards offered in your program, you need to make sure you are shopping around for the right loyalty program provider and management tool to ensure your program’s transparency, performance, and ease is just as important as the selecting the right rewards to offer, maybe even more important. Bottom line, a fully custom tool that works for your program’s needs is definitely the best option to include at program launch, but sometimes the budget doesn’t allow for this option (or so we think) and you might not be exploring the best available options in today’s loyalty technology market space. But what if we told you that you could have a program management tool tailored to your specific program needs, at an affordable price? The following is what you can expect from All Digital Rewards, a leading reward management technology provider, and what you should be on the lookout for when shopping around for other providers. […]
