Your clients’ audiences consist of all sorts of different people. Suppose they want all sorts of different rewards?
They do, of course.
Meeting that need should never be a problem when you’re working with the right reward card provider.
Unfortunately, not all incentives providers fully understand that not every incentives program calls for the same reward. And to be fair, there are occasions, such as when an open-loop card answers the problem of a large and varied audience, when one size does fit all. But there are many other occasions where, no, it flat-out doesn’t.
And that’s a deal-breaker. When your clients are trying to create ongoing engagement in corporate incentives programs or consumer loyalty or rebate rewards programs, “close enough” isn’t good enough.
Just as there are many of types of people, with many types of tastes, your rewards partner will need many types of rewards to satisfy them. Because for a reward to be truly motivating and drive engagement, it has to be one that each person actually wants. To fit, it has to be the right reward, for the right recipient, delivered the right way, at the right time, to get the right result.
That’s why reward selection should be consideration #1 when it comes to selecting an incentives partner. For this reason, we’ve prepared a guide, The Incentive Buyer’s Indispensable Guide to Rewards, which provides a handy overview of all the various reward categories, as well as a few interesting bits on industry trends and recipient preferences.
There are a number of important characteristics to consider when selecting an incentive partner; among them program management excellence, compliance expertise, fulfillment reliability, ease of ordering, and competitive insights. But none of that will matter if the provider doesn’t have the rewards.
Lots and lots of rewards.
What is the “right” reward?
So what do we mean by the right reward for the right recipient? It’s a two-part answer.
First, once your client has determined what they’re trying to accomplish with their incentives program, there will many options to consider for how they’re going to get there. Open-loop card? Single-merchant gift card? Multi-merchant card, where your client chooses the merchants? Digital cards for instant rewards? Global? Value-add features? The reward means need to be a good fit for the program ends.
Then your client has to decide what sort of reward would best suit the participants themselves, and here’s where your provider’s wide selection and experience can really make a difference. Millennials, for example, share some reward preferences with their older counterparts, but not all. Men and women don’t always value certain rewards the same way. There are regional reward preferences, some rewards are more popular for shopping online than they are in person, and some categories are growing faster in popularity than others. Other shopping categories are always reliable, year in, year out.
These are the sorts of things your partner should discuss with you to help create the best circumstances for your clients’ success. Along those lines, for the strategies and practical applications behind rewards selection, you may be interested in our recent ebook, The Right Reward, which explains why wide choice is such a critical factor in program success.
Selecting an incentives partner is a big decision. Getting all the rewards your clients will need, and getting them all in one place, is a big factor in making that decision. Is this something you’d like to discuss further?