Three reward options for you to consider for your B2B loyalty program: Merchandise rewards, Branded Cash (Visa prepaid), or Travel incentives. Which would you use?
Picking the “right” reward for a program can be stressful, but it doesn’t need to be! In reality, any choice can lead to program success. However, if you were to ask us why you should select a certain reward over another, here is what we would say after 20 years of experience:
Merchandise offers the best value for budget. Reward catalogue items are often purchased at wholesale prices, which gives a customer a more attractive perception of value. Merchandise has a strong “trophy value” since the receiver can show it off to others as a measure of their success. If the reward’s commonly desirable, you can imagine the impact that reward being delivered to a customer’s workplace might create, with the “winning” individual sharing where it came from. From a marketing perspective, it’s invaluable.
Branded Cash (Visa Prepaid) is the ultimate in choice. Firstly, they are unrestricted by brands like store gift cards. Secondly, you can use a prepaid Visa card anywhere. In-store, online, and overseas. This is perhaps one of its strongest points for participants, and hard to match in any other reward. Furthermore, they can fit into any program design, either as a single load gift card or ongoing recognition via a reloadable card. Each card option has its own unique function. This flexibility in the reward mechanism means that finding the Branded Cash that complements the overall outcomes of a program is easier to achieve and easily communicated to your target audience.
Companies consider incentive travel as the pinnacle of reward offers. It inspires and excites partners to achieve results like no other rewards. Travel celebrates the success of partners who’ve achieved big results or gone well above and beyond expectations. This shared drive and qualification build a community of like-minded, successful customers associated with your brand. Plus, with a travel incentive, you’ve got a captive audience for the duration of the trip. Imagine what you can do with that time!
As we offer delivery of all of all rewards options for the B2B programs we manage today, we look at reward options like kids, we don’t play favourites, we just love them all!
