What to Consider When Creating an
International Rewards Strategy

Rewards programs are important because they can help you engage your customers, employees, sales partners and other stakeholders. In an increasingly connected world, companies that operate across international borders have a complex list of factors that weigh into their rewards program strategy. These cross-border operations can be complicated to create, run and update—and can become incredibly cumbersome and expensive.

Our own Jennifer Worley recently shared tips with CustomerThink for what companies should consider to successfully navigate a worldwide rewards program.

Here’s an excerpt:

  • Your global footprint. You need to identify all of the countries you service. Map out the coverage you provide so you can customize program execution and account for each country’s unique characteristics.
  • Currency exchange. Navigating across borders means using different currencies. With currency exchange rates constantly changing, ensuring accurate conversions can be challenging. When you are delivering recipient rewards using in-country currency, keeping track of the latest currency values requires attention to detail.
  • Time zones. International programs operate at different times of the day—and may even span across different days altogether. You’ll need to make sure your organization is appropriately staffed during appropriate times of the day.
  • Languages. Truly global companies use a variety of languages to communicate with reward recipients, employees, partners or vendors. And even within the same country, different languages may be used. Effective communication is critical to program management; effective translation services are key.
  • Logistics. Delivering physical rewards to recipients can be a more difficult task than one may think. Providers can navigate this process for you, but also consider offering digital rewards to circumvent the challenges associated with logistics. This can potentially save you money in the long run and reach recipients no matter their physical location. Layering in digital offerings can also differentiate your company from competitors while delivering streamlined solutions.
  • Technology integration. Your systems have to “talk” to each other—no matter the country of operation. And they should also provide recipients with consistent opportunities to contact customer service, redeem their rewards and more.
  • Variety of rewards. Reward recipients value choice, and effective reward programs offer them. You should be able to customize your offerings based on recipients’ personal preferences to ensure they receive meaningful, effective rewards. Consider offering a wide variety of options such as egifts, virtual prepaid, physical prepaid, traditional payments, travel or merchandise.

 

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