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What Are The Most Effective Types Of Incentives?

What Are The Most Effective Types Of Incentives?

Whether it is for a customer loyalty incentive program, a health and wellness incentive program, or a channel partner program,  choosing the right rewards and incentives is one of the most important parts of planning your incentive program. But how do you know which incentives will be the most effective for your program?  Well, first we need to go over the different types of incentives and rewards.

Merchandise

Merchandise can include a number of different things.  It can include highly rated products such as jewelry, electronics, appliances, etc.,  novelty items custom branded for your company, and so much more! Merchandise is often understandable considered the workhorse of any incentive program.

Cash Equivalents

It’s not hard to understand why cash equivalents such as physical prepaid visa cards, digital prepaid cards, and checks are a favorite among consumers. People love cash, so cash equivalents are always a crowd pleaser. Cash equivalents work best as part of a reward mix, rather than as stand-alone incentives.

Digital Rewards

Digital rewards are incredibly satisfying to participants. People love instant gratification, and digital rewards give that to consumers. There is something beautiful about earning a reward and being able to redeem it right away. Digital rewards are an ideal choice for most incentive programs as they make the reward redemption process quick and easy and keep your customers happy.

Gift Cards

Gift cards are a fantastic way to expand your incentive offerings. Whether physical or digital, gift cards allow your participants to enjoy shopping with top name brands. Like cash equivalents, gift cards are a crowd pleaser. It is essential to make sure that you only include brands that will be relevant to your participant demographics.

Experiential rewards

Experiential rewards are very popular for sweepstakes and other high – value rewards. Experiential rewards allow participants to create memories, which can significantly increase their loyalty. Experiential rewards can include cruises, air travel, amusement parks, cave excursions, paintball adventures… the sky is the limit! As with gift cards, you must do your utmost to ensure that the rewards you offer will be relevant to your target demographics.

Although the right rewards will be specific o your program’s needs,  generally, a blended rewards strategy is highly effective in engaging participants and ensuring a high return on investment. When choosing the most effective types of incentives for your program, working with an incentive provider, like All Digital Rewards, will significantly increase your program’s chances of success. We have an outstanding selection of rewards in every category, to include merchandise, digital, cash equivalents, gift cards, and experiential rewards. We also offer a wide range of technology solutions to support your program, such as our STACK™ SaaS platform applications. No matter your program’s requirements, we have the rewards that will fit your needs.

If you’re looking for the best reward and incentive offerings on the market, look no further than All Digital Rewards. To speak to one of our rewards program experts, call us at 866-415-7703 now or click on the button below to schedule a demo.





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