Prepaid and debit cards are immensely popular as incentive rewards in the workplace. Incentive Research Foundation (IRF) studies indicate that the usage of prepaid cards as employee incentives has risen dramatically during the last decade, namely because of how versatile and easy to administrate they are. If you want to set up a debit card reward system in your own organization, you generally have two options: purchase prepaid cards and operate the program yourself, or use an incentive provider.
Internally-run debit card reward programs may work fine for some small companies, but they usually result in someone in the office spending a lot of man hours on a task outside their job description. Keeping track of everyone’s earnings, validating claims, and regularly adding card credit can take up a lot of time. Incentive companies’ debit card reward programs are not only convenient, automated reward systems, but you can get several perks along with these programs. The features and advantages of debit card reward programs help you refine your goals, track your employees’ performances, and increase adoption rate of your rewards program. Here are a few examples:
• Branded Cards
Companies like Incentive Solutions offer clients the option of branding the debit and prepaid gift cards used in their reward programs. Cards printed with your organization logo have something extra: brand recognition in the wallet. Branded cards not only strengthen your participants’ sense of company loyalty, but reinforce positive associations with your brand. In other words, every time participants use their cards to buy fun things—new smart phones, new books, supplies for a dinner party—it reminds them of their professional achievements, and drives them to repeat their efforts.
• Communications Package
Just like any product, service, or event, incentives are more effective if your audience knows how and why they should use the program. That’s why many incentive providers, like Incentive Solutions, offer powerful online technology, creating programs that can act as communication and marketing tools as well as reward systems.
With a sophisticated and comprehensive reward program, participants can stay updated on current and upcoming promotions, as well as their periodic and overarching goals. Specific and clearly defined goals work best, and communication packages help ensure your goals are always clear to participants.
- Reports and Performance TrackingNot just systems of rewarding employees, reward programs also allow you to collect valuable data about your sales performances and your reward program. Using program reporting capabilities, you can:
- see new registrations
- check how often participants are logging in
- oversee program communications
- check on card funds
These features make it easy for you to keep record of important reward program data and stay on top of your reward program’s effectiveness. When you see lapses in logins, for instance, it may be time to market the program more aggressively or start an exciting new promotion.
A simple, internally managed debit card reward system may be right for you, but debit card programs offered by incentive companies bring along several advantages. You can brand your cards, market to your program participants, and collect valuable data about the program’s performance. Studies show that reward promotions are more effective when they’re monitored with analysis and marketing, so don’t ignore the considerable advantages of partnering with an incentive company when considering a debit card program.
Copywriter for The Incentive Solutions Group of companies, consisting of:
• Incentive Solutions, Inc.
Direct Contact: 678-514-0248
Sales Hotline: (800)-844-5000[/ezcol_2third_end]
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