The Power of Incentives in Building Relationships

BY Lucy Fang
Oct 02, 2020
The Power of Incentives in Building Relationships

The Power of Incentives

Building loyalty among customers, employees, and partners is essential to business success, now more than ever. Incentives can be used to inspire loyalty and influence behaviors. Whether its experiential rewards, rebates, merchandise, e-rewards, such as e gift cards, sweepstakes entries, or virtual gift cards, the right rewards for the right program can make all the difference.

When building relationships with your customers, incentives increase brand loyalty and the likelihood of referrals. Loyal customers are 68% more likely to share your brand or business on social media if offered a reward for referrals and word-of-mouth marketing is important, even in our digital age. Referrals are one of the biggest strengths of developing a customer relationship. Offering referral incentives can help you gain those quality customers who talk about your company and it rewards them for spreading your business name.

Merkle’s annual Loyalty Barometer Report found that points-based rewards programs are the most popular type of incentive program among consumers. Points-based incentives, particularly with rewards marketplaces are an excellent way to inspire customers. 85% of consumers surveyed for the report said they would like to be able to select the benefits and rewards they receive. This makes it important for companies to select rewards providers who have extensive options and experience in recommending incentives for a range of demographics.

Points-base programs also can fit well with an incentive trait popular among Millennials and Gen Z. Members of both generations said they like to be able to compete and see leaderboards. This can be applied to consumer loyalty programs, partner incentive programs, and employee incentive programs.

When setting up incentive programs, working with a reward and incentive program management company with solutions that fit your organization’s needs will have an amazing effect on your program’s success. All Digital Rewards offers the experience, technology, reward catalog, and support to give you your best chance at success.

Leverage All Digital Rewards’ reward program management software, SaaS with RewardSTACK™ and simultaneously support multiple reward and incentive programs with the click of a mouse. While our real-time reward management solution functions as a turnkey modular platform, it can be customized and tailored to accommodate individual client and project needs, deploying thousands of rewards in over 150 countries, and supported by industry-leading reporting and analytics.

All Digital Rewards provides one of the largest and most complete incentive and digital reward catalog available to incentive program managers today. We are continually updating it with engaging relevant digital incentive products that drive the behavioral outcomes your program objectives require. Choose between a mix of prepaid & gift cards, travel incentives, merchandise, and more! Our rewards and incentives are available via an API product feed allowing for instant real-time incentive processing, analytics, and reporting.

All Digital Rewards is a leading loyalty engagement specialist that works directly with companies, partner networks, and end-users to design and support employee, consumer loyalty programs, and incentives. To learn more about how All Digital Rewards can support your next incentive program, call 866-415-7703 or click the “Schedule a Demo” button at the bottom of the page and let our team of experts here at ADR help you succeed in your next sales incentive program.