One of the research topics Hawk Incentives revisits annually concerns consumer sentiments about rewards—the rewards people say they want versus those they respond to, and what rewards mean to them within the context of the customer experience.
The strong consumer desire to choose their own reward is one finding that consistently stands out. The following presentation excerpts from our 2018 Client Council event offer insights into the power of reward choice, and how enabling that choice impacts the success of an incentive program.
Deal Seeking Consumer Trends in 2018
Hawk Incentives VP of marketing Theresa McEndree discusses the self-reported psychological benefits that consumers experience when they find a deal, or earn a reward.
Theresa McEndree explains what consumers are really saying to marketers when they talk about wanting a choice of rewards.
Q&A on Customer Loyalty
In this clip from a moderated panel discussion on loyalty programs, Blackhawk Network’s VP of Marketing Suzanne Arnott talks about how loyalty programs can drive program awareness and engagement by expanding their reward offering to include options like egift cards and digital prepaid cards.
Theresa McEndree explains how the recipient of a reward ultimately decides what that reward means – whether it represents money to be used toward everyday expenses, or “found money” to be spent as a treat – so it’s important to offer enough of a choice in redemption options to accommodate both potential perceptions.
The Digital Experience
As he walks the audience through the experience of claiming a rebate using a mobile app , Hawk Incentives VP of Product Strategy Dan Hawtof explains the benefit of expanding the concept of reward choice beyond the reward itself to the delivery method of the reward (physical reward versus digital reward).
The Key Takeaway
One of the most important takeaways here for incentive, loyalty and rebate program managers is that providing reward choice does not have to mean providing an overabundance of options. Giving your customers and program members just a few options is all it takes to give them some control.