There are many qualities that a reward incentive should have to be effective for your research, marketing, or employee programs: ease of implementation, convenience, desirability, etc. But above all, the best quality of an effective reward incentive is flexibility for both the recipient and the sender. A versatile incentive program can be adapted for every recipient, whatever their preferences and location. It will also fit into any rewards strategy and budget. As a result, it has the best chance of helping your team achieve its goals.
Reward incentives are distributed by companies to encourage specific actions among a certain audience. Sometimes, companies provide them to employees to motivate them and encourage higher productivity. Others use rewards to keep their customers happy or to boost engagement and participation in their marketing campaigns. Here are some of the best reasons for using rewards or incentives:
Incentives can take several forms and be monetary or non-monetary. Examples include verbal or written thanks, physical gifts, gift cards, and exclusive access to events or features.
Reward incentives are effective in many different kinds of programs. When used for employees, rewards help by:
In research, the benefits of using incentives include:
Marketers using rewards will see benefits such as:
Flexibility is one of the most important elements of any reward. After all, reward incentives must accommodate all kinds of recipients, who have different interests and needs. They also often need to be appropriate and redeemable for people who live in different countries. On the sender side, marketing, research, and HR teams must have versatile rewards that can be used for a number of different campaigns and projects — and fit within budget requirements — so being able to adjust the type and value of reward is key.
First, digital gift cards make great rewards because they have the desired flexibility in many ways, including:
Digital gift cards also have a number of other advantages as reward incentives, including:
A good rewards program should be easy and efficient to launch, which is why it’s better to use a streamlined digital rewards tool instead of spreadsheets and manual processes.
BHN Rewards offers an easy-to-use, integrated platform that can be incorporated seamlessly into your existing workflows and tools for marketing campaigns, research projects, and employee engagement programs. It also has over 300 reward options, including e-gift cards from top global brands in a number of currencies, virtual prepaid cards, and e-donations.
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