You have come to the realization that you need to add rewards and incentives to your marketing or research program. They are shown to increase everything from response rates and engagement to brand loyalty and employee satisfaction. But what rewards structure will best help you reach your program goals?
Instant rewards, sweepstakes, and points-to-rewards are the most common types of incentives. Let’s look at one advantage of each.
In today’s world of instant gratification and short attention spans, instant rewards let participants receive their gift card immediately after completing the desired task, whether that’s filling out a survey, submitting a referral, joining a focus group, or attending a webinar. Thanks to automated digital delivery options, rewards will arrive in their email inbox for them to redeem and use right away.
Incentivizing participants with a chance to win a digital reward can help you stay within a small budget with a hard limit. But make sure to explore other ways to put even a tight budget to better use with incentives. For instance, offering the first 50 or 100 participants an individual reward may be a more appropriate way to get the engagement you need.
By awarding points for each survey submitted or task completed and letting participants redeem those points for digital rewards, you make them feel continually valued for their time and effort. Accumulating points engages them repeatedly and makes them motivated to complete more activities on an ongoing basis.
That’s just the tip of the iceberg when it comes to comparing instant rewards, sweepstakes, and points programs. You also have to consider the goals of your program, the potential for success, the costs involved, and the potential challenges. Only by looking at the whole picture will you be able to choose the rewards structure that can best meet your needs and set you up for success.
Our cheat sheet examines additional pros, as well as cons, results, costs, and best use cases for each option to lead you to your best solution. Click below to download the one most relevant for you to get help choosing the right rewards structure: