Businesses and organizations are now more than ever faced with delivering program incentives on Platforms that can provide enhanced capabilities securely to motivate participants to achieve increased targeted outcomes. As technology changes and business requirements evolve, managing programs and rewards can become more and more of a challenge. The question becomes, “How do you pick the right technology provider?” Although there isn’t a one-size-fits-all answer for every incentive program, there are some key elements that your technology vendor should be providing when offering a solution for your incentive program. All good loyalty and incentive solutions should allow you to create clear and concise terms and conditions for your incentive program and the reward products that are redeemed. You should select an incentive system that handles customer data in a responsive, transparent way, and effectively protects data privacy. Dynamic segmentation in Platform services helps program managers target specific customer segments in real-time, saving them time doing the segmentation manually. A Platform built in a modular architecture with product platform strategies enables companies to build a broader portfolio of incentive program offerings for clients and client customers. The system can include niche products at an acceptable cost with less effort. Today program […]
Tag: visa virtual
Gamification: A Game Changer For Incentive Programs
Sweepstakes and instant win game applications have long been a popular feature in incentive programs, and it’s easy to see why. Game-based promotions can be easily integrated into the best sales incentive plans, loyalty program platforms, rebate management systems, customer acquisition programs, and more. From consumer loyalty programs, to B2B channel partner programs, to company health and wellness programs, everyone is looking for ways to increase engagement. Most people know that having the right reward offerings and robust incentive management technology is important, but there’s another lesser-known element that can help increase your incentive program’s engagement: Gamification. Gamification is an online marketing technique that takes qualities of games (point scoring, competition, rules of play) and applies them to a company’s product or service – in this case, an incentive program. Examples of Gamification in an incentive program can include: When conducting a sweepstake or other game-based promotions, working with instant win game providers and sweepstakes technology companies can save you a lot of hassle. There are a lot of moving parts to your average sweepstake promotion. Rule creation, legal review, insurance, bonding, winner validation, tax reporting, and prize delivery are just a few of the required concerns for your average […]
Gamification and Your Panel Incentive Programs
Incentives are an essential part of market research programs. Sweepstakes and instant win game applications have long been a popular feature in every type of incentive programs and it’s not difficult to understand why they’re so popular. Game-based promotions can be easily integrated into your market research incentive program. When conducting a sweepstake or other game-based promotions, working with instant win game providers and sweepstakes technology companies that understand your needs for a panel program can save you a lot of hassle. There are so many elements involved in your average sweepstake promotion. Insurance, bonding, rule creation, legal review, winner validation, tax reporting, and prize delivery are just some of the required pieces for your average panel sweepstake promotion. With instant win game software and a reward program management company experienced in instant win and sweepstakes administration, you’ll be setting yourself up for a smooth experience. It doesn’t hurt to have your reward management partner also understand the unique concerns of a market research program! The panel program incentives rewards that you pick for your game or sweepstake promotion should be varied and popular with your panelists. Each incentive program participant will have their own individual preferences, but there are […]
Why You Need Virtual Incentives For Your Rewards Program
Virtual rewards are a fantastic, bordering on necessary, incentive for any rewards program. Why do virtual visa prepaid cards, digital gift card rewards, e-code redemptions, and other virtual rewards continue to dominate incentive rewards programs? Because whether they’re used for sales incentives, customer incentives, health and wellness, market research programs, or something else altogether, they meet a vital participant need: immediacy. Benefits of Virtual Incentives: Participants in your consumer incentives programs, channel partner incentive programs, or sales incentive plans all have one thing in common. None of them want to wait to be rewarded. With merchandise, bulk visa prepaid cards, or checks, your incentive program participants will have to wait, sometimes for weeks, from the time they redeem their reward to the time they receive it. Virtual gift card incentives and visa virtual cards don’t have that problem. When considering market research, consumer, or sales incentive program ideas, think about your demographics. Are virtual incentives a good fit for them? If so, look at your options. To properly offer virtual incentives for your points-based loyalty programs, sale incentive programs, customer incentive programs, or others, you will need a few things, to include the right reward options, a good reward management […]
Gamification and Your Incentive Programs
Sweepstakes and instant win game applications have long been a popular feature in incentive programs, and it’s easy to see why. Game-based promotions can be easily integrated into the best sales incentive plans, loyalty program platforms, rebate management systems, customer acquisition programs, and more. When conducting a sweepstake or other game-based promotions, working with instant win game providers and sweepstakes technology companies can save you a lot of hassle. There are a lot of moving parts to your average sweepstake promotion. Rule creation, legal review, insurance, bonding, winner validation, tax reporting, and prize delivery are just a few of the required concerns for your average sweepstake promotion. With instant win game software and a reward program management company experienced in instant win and sweepstakes administration, you’ll be setting yourself up for a smooth experience. The program incentives rewards that you pick for your game promotion should be versatile and crowd-pleasing. Each incentive program participant will have their own personal preferences, but there are some reward types that remain nearly universal. Cash-based rewards, which include checks, gift cards, and visa prepaid card rewards, are some of the most popular rewards among participants. Visa virtual and physical prepaid cards are the most […]
Best sales incentive plans Rewards 2020
How do you go about executing super engaging sales incentive plans? By choosing the right rewards! There are several components to getting the best sales incentive plans rewards. You need to find out what rewards will motivate your sales force, you should have the right reward program technology, and work with channel partner incentive vendors. In order to help motivate and inspire your sales incentive program participants and encourage them to succeed, the incentive rewards offered should have high perceived value and be tailored to your participants’ demographics. Some of the most popular choices include gift cards, prepaid cards, and incorporating sweepstakes and instant win games. Gift card rewards’ benefits are well-known. Gift cards are often a superior choice for budget-conscious participants, as they allow them to use their gift card rewards for things they might not normally spend their money on. The gift cards your sales force members earn from your rewards programs can be redeemed at thousands of online and in-store retailers. Additionally, the perceived value of those gift card rewards is often even higher than the perceived value of cash rewards. A consumer’s use of gift cards may encourage them to buy things to spoil themselves — […]
Use Gift Cards For Channel Sales Success
How effective are gift cards in improving channel sales incentive programs participation? Gift card incentives are staples of incentive marketplaces and are highly recommended by channel partner incentive vendors. The Incentive Research Foundation’s quarterly academic review from fall 2019 reviewed the effectiveness of gift cards in incentive programs and found that Gift cards are one of the best non-cash incentive rewards offerings to use when creating an incentive program. The IRF quarterly academic review found that people tend to mentally think of gift cards as a windfall, rather than money that has to be spent on responsibilities like bills, or groceries. This makes them an incredibly appealing option for incentive program participants as they will use them to get a treat for themselves. Gift cards have all of the benefits usually associated with cash incentives. High-quality sales incentive plans will prioritize offering incentive gift cards or prepaid cards, such as a VISA virtual card, in their sales incentive offerings selection. Good channel partner incentive suppliers will offer and potentially recommend gift cards along with bulk visa prepaid cards and other cash-based incentives. Gift card incentives can encourage better workplace outcomes and positive behaviors among participants. When looking at sales incentive […]
How To Massively Increase Your Channel Sales Program’s Success
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 […]
These are the Top Market Research Panel Incentive Program Essentials
Panel loyalty programs are an essential part of market research. These programs increase research firms’ panelist retention, panelist acquisition programs, and survey frequency, making them foundational in increasing the revenue and profitability of research firms. When implemented effectively, market research panel incentive programs can build brand advocacy and increase the lifetime value of the panelists. The four essentials when creating a successful panel loyalty program strategy, include objectives, support for the program, participant rewards, and measuring program success. There are several steps you will need to take while creating your company’s panel loyalty program. Evaluate what currently is and isn’t working with your promotions. Decide on the goals for your program. Consider your audience. Your program’s main focus should be to make your panelists happy and keep them “your” panelists. Your loyalty program platform, structure, and technology should support the experience of your panelists. When planning out your panel incentive initiative, you need to show upper management that you have a good business case for your plan, which should include accurate metrics. You must ensure your loyalty program’s value is clear to your key stakeholders. With a solid plan in place with clear financial objectives, your company’s decision-makers are more […]
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 […]
Choose The Dine and Go™ Prepaid Card For Your Incentive Program
Choosing the right rewards for your incentive programs are one of the most important steps in creating an incentive program. With a strong knowledge of behavioral economics and understanding matching up relevant incentives to drive behavior, we can identify and define demographics and choose the right rewards and incentives. Whether it’s a program focusing on health and wellness program, customer acquisition programs, channel sales incentive plans, rebates, employee recognition, or customer loyalty, it has been shown consistently that cash-equivalents are a favorite among incentive programparticipants. Our research has shown that Millennials (Generation Y) and New Silent (Generation Z) participants are looking for dining and entertainment reward card incentives that will support the local establishment in the communities they live in. All Digital Rewards created the Dine and Go™ Visa® Reward Card to do just that. Participants can now use this custom card incentive program at their local restaurants, bars and entertainment. Gone are the days of having to issue big box restaurant gift cards. Reward cards are wonderful brand awareness and customer acquisition tools and known revenue generators. These cards are popular because of their ease of use, perceived value, and universal acceptance. Additionally, incentive programs that use prepaid cards […]
