Whether for health and wellness, loyalty, channel partners, market research or something else, there are many different ways to set up incentive programs. One of the more useful tools for incentive programs is issuing points as “virtual currency”, which allows participants to keep track of their earned benefits. Typically, users receive points for reaching preset benchmarks that reward them with a selection of different incentives, which can include prepaid Visa cards, gift cards, digital rewards, goods, and services from the issuing organization. This could include bonus products, bonus thresholds, and channel partner opportunities. These loyalty programs are a fantastic tool for market research, automotive, health, and wellness, customer, employee, sales incentives programs and more. Compiled below are a few of the Benefits and Drawbacks to help guide those considering developing their own points-based incentive program: As you work through the benefits and drawbacks of points-based programs, you will discover that finding the right reward management solution provider is an essential component in driving a program’s success. All Digital Rewards (ADR) is a leading technology company specializing in customer loyalty and promotions, program development, design, and implementation. We can help you navigate through the pros and cons as they present themselves. […]
Tag: points based incentive management system
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 […]
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, […]
