Whether you have the best or the worst Channel sales partners, a rewards program can go a long way to improving your participants’ and partners’ performance. Good Channel sales incentive plans will be cost-effective, enticing to your participants, have the right reward offerings, and give you a quality return on investment. When you are are looking at Channel sales incentive program ideas, it is essential to consider what sort of incentives you plan to work with. Gift card incentives, for example, are very popular forms of both physical and virtual incentives, prepaid Visa virtual and physical rewards are another excellent option, as are experiential rewards and merchandise. The rewards you use will be best if selected and explicitly tailored to your program, taking into account the interests of your participants’ demographics and your budgetary constraints. Ideally, to ensure a seamless reward experience, both for you and your participants, you should work with channel partner incentive vendors and reward management applications. Channel partner incentive companies know how important it is to have the right incentive rewards and technology to support your channel partner incentive program. Additionally, your channel sales technology provider may also recommend a variety of different ways to reward […]
Tag: Incentive rewards
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 […]
The Effectiveness of Gift Cards As Incentives
Gift cards are commonly found in incentive marketplaces, but how effective are they really? In the Incentive Research Foundation’s fall 2019 issue of their quarterly academic review, they reviewed the effectiveness of gift cards in incentive programs. Gift cards are one of the best representations of non-cash Rewards, and carry all of the benefits typically associated with such incentives. Well-designed incentive programs will almost always offer some type of gift card or prepaid card, such as a VISA virtual card, in their reward offerings selection. Every type of incentive rewards provider, whether they be instant win game providers, market research incentive program managers, reward management technology providers, or digital reward providers, will offer and potentially recommend gift cards. As with most incentive programs, gift cards can encourage positive behaviors and better workplace outcomes. When looking at sales incentive program ideas, consumer reward program ideas, or ideas for other types of incentive programs, gift cards will almost always be listed as a recommendation. Gift cards are a fantastic choice for almost any type of incentive program. The IRF quarterly academic review found that people tend to mentally think of gift cards as “fun money”, rather than money that has to be […]
Three Keys To Increase Market Research Panel Engagement
Engagement is key to market research panel success. With quality engagement, you can easily obtain the essential, actionable insights and data needed for your market research program. To increase market research engagement, you need three things: The right rewards, the right technology, and the right support. Choosing the right rewards is absolutely vital to your program success. Your market research panel incentive program should include rewards that are easily redeemed, relevant, and timely. All Digital Rewards offers a wide range of research incentives to fit all your needs. Your panelists shouldn’t have to jump through dozens of hoops to get their incentive rewards. Participants want to be able to choose and redeem their rewards easily. The easier it is, the more satisfied your panelist will be, and the more likely they are to engage with your program. Your program’s budget and demographics are key factors to keep in mind when choosing the research incentives to offer to your panelists. It is essential to provide rewards that are fitting for your demographics. Are you dealing with a predominantly female or male audience? Where are the majority of your participants located? What age bracket are you working with? All of these questions […]
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 […]
