When it comes to picking the right incentive reward for an incentive program, there are different factors you need to keep in mind. Choosing the wrong incentive reward could be fatal to the success of a program if your channel sales<\/a> aren’t motivated by the offer, which could be detrimental to your sales or new acquisition numbers. <\/p>\n\n\n\n So, how do you make sure you choose the right incentive reward? You can start with our thoughts on the different reward options and which work best for your reward and incentive program.<\/p>\n\n\n\n <\/p>\n Merchandise incentive reward<\/a> is the most commonly used incentive reward option in the market. A proven winner in most B2B rewards programs<\/a>, it gives you a wide range of options to play with. Merchandise incentive reward options can be tailored to any demographic, so your target audience gets a reward selection that suits them and their business. For many of our programs, we provide tailored merchandise catalogues relating to our client’s business needs that can be reinvested into their business.<\/p>\n <\/p>\n Merchandise has substantial “trophy value<\/a>” since the receiver can show it off to others as a measure of their success. If the reward is commonly desirable, you can imagine the impact that reward will have on a customer’s loyalty. From a marketing perspective, it’s invaluable.<\/p>\n <\/p>\n <\/p>\n You can only put so many items in an incentive reward catalogue. Not every catalogue will have something for everyone, which means you risk a small part of your team or channel being put off by the rewards on offer.<\/p>\n <\/p>\n Merchandise incentive reward is the perfect starting point for B2B rewards and incentive programs, as they are the easiest to source and add to the program offer. This also means that competitors may be doing something similar with the merchandise for their business rewards program<\/a>. Without this being a significant difference, you might not get the “cut through” you were hoping for.<\/p>\n <\/p>\n<\/div>\n\n\n\n\n<\/div>\n\n\t\t <\/p>\n Branded Cash incentive reward<\/a> gives program participants flexibility to get what they want. It offers something no other reward can: your brand in the wallet of customers like a pocket billboard. Every time they pull the card out to use, your brand’s staring them in the face. It’s instant, easy, cost-effective brand awareness for your program and company.<\/p>\n <\/p>\n We believe the biggest advantage for reward winners is the range of choices. They control where they would like to spend the hard earnt reward. Prepaid Visa can be used anywhere: in-store, online and overseas. This is perhaps one of its strongest points for participants and is hard to match in any other reward.<\/p>\n <\/p>\n Branded Cash can fit into any program design<\/a>, either as a single-load visa gift card NZ<\/a> or ongoing recognition via a reloadable card. 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.<\/p>\n <\/p>\n<\/div>\n <\/p>\n Unlike merchandise incentive reward options, there’s no cost benefit (like wholesale prices) for Branded Cash. The cash value is the amount you have to contribute to the program budget. This can impact in a couple of ways: the total reward opportunity value for a customer would be less than merchandise, as a points balance doesn’t stretch as far. This can create a perception of value. Or, if a program has a fixed budget, you can reward fewer customers due to budget constraints, or you blow out the budget in overperformance.<\/p>\n <\/p>\n When you include Visa Prepaid cards that aren’t branded, you lose the opportunity for any trophy value, and the rewards are no longer separable from daily expenses like fuel or groceries. If the reward is just being used for everyday expenses like filling up a car, your reward won’t create a connection, and you haven’t achieved any severability for the day-to-day.<\/p>\n<\/div>\n
\n\n\n\n\nMerchandise Incentive Reward – A Timeless Classic\n<\/h2>\n\n<\/div>
Considerations<\/h4>\n
\n\n\n\t\tCustomer Rewards \u2013 Trends, Expectations and Evolutions\t\t<\/h5>\n\t\t
\n\n\n\t\tIncentive Programs – A Lifeline for Businesses\t\t<\/h5>\n\t\t
\n\n\n\t\tPersonalising your Incentive Program Communications\t\t<\/h5>\n\t\t
\n\n\n\n\n\t\nBranded Cash – Easy and Flexible\u00a0\n<\/h2>\n\n<\/div>
Considerations<\/h4>\n
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