Every incentive program seeks for high user experience satisfaction scores while maintaining operational efficiency. The right technology makes this much easier. Technology manages participants, activities, event processing, different use case redemptions, validations, QA, reward fulfillment, reporting, and more. Organizations want to find ways to use technology to improve incentive payout processing, management, and fulfillment for their customer surveys, product rebate, employee recognition, health and wellness, sales incentive, and channel partner initiatives. However, it can be tricky to find the right incentive and reward software provider. These tips will help you evaluate your choices. There are two main types of vendors on the market: pure-play loyalty platform providers and loyalty managed services providers. A pure-play vendor offers technology to control and build incentive programs. These vendors will support framework establishment, program logic, implementation, strategic guidance, and analytics. Characteristics of a pure-play incentive provider: The organization is the owner of their program Extended participant data integrations Sophisticated loyalty incentive system engine Easy and fast user adoption Direct solution integrations, including third parties Quick to launch and bring to market Wide variety of pre-built rewards for engagement Wide variety of pre-built transactional reward options, including points accrual, codes, games, and redemption templates Strategic […]
Tag: incentive suppliers
Use Digital Rewards for Your Channel Incentive Programs
When creating an incentive program, the reward mix is a crucial element in your channel sales incentive program’s success. What rewards will you offer? What will appeal to your participants? Do you need a full marketplace of rewards or just a limited number of selections? Do you use physical or digital rewards? The best sales incentive plans will choose the right rewards for their participants. There is a strong argument to be made for including digital rewards and incentives in your channel sale incentive programs. Digital incentives boast a lot of benefits over their physical counterparts and can fit a wide range of incentive programs. Adding digital incentives into your reward mix may give your program the boost you’ve been looking for. Now, let’s talk about what digital incentives are and why channel partner incentive providers encourage them. Digital rewards can include electronic gift card incentives for top-rated brands (Target, Walmart, Amazon, Best Buy, etc.), virtual visa prepaid cards, audiobook or video service subscriptions or credits (Fandango, audible, etc.) and so much more. Digital rewards can be used almost immediately and provide instant gratification to your participants, which is why they are encouraged by prize incentive suppliers. No one really […]
