Hawk Incentives Shares Latest Trends in Consumer Incentives at 2017 IMA Summit

Each year, the IMA Summit brings together thousands of marketing, rewards and payments leaders to discuss the future of incentive marketing, including the latest trends and best practices. During last month’s show, Hawk Incentives’ Theresa McEndree and Jennifer Worley presented our recently completed reward preference research, and tips for getting the right rewards into the right hands.

Some of the key takeaways from the research and their presentation:

  • People want choice more than any specific reward. There was no clear reward “winner” for any demographic segment or dollar value. So, when selecting rewards for incentive programs, sponsors should be sure to offer a variety.
  • Digital and physical rewards are desired in different situations. There’s a time and place for each. Digital rewards are preferred for smaller-value rewards of $5-$25, whereas physical rewards are preferred for high-dollar rewards of $100-$500.
  • The right categories make a difference. Compelling categories that offer choice and branded value (such as prepaid reward cards and gift cards) are important factors to reward earners.
  • People prefer prepaid rewards. When given the choice of prepaid reward cards, versus gift cards or merchandise, consumers overwhelmingly prefer prepaid rewards. This is not surprising, given the flexibility and choice the rewards provide.

 

For more research insights from Hawk Incentives, click here.  

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