Incentive rewards are much like gifts—they send a message. And every reward sends a different kind of message. That’s why it’s best to think about the rewards in your company incentive program strategically. If you offer online rewards (ie. merchandise rewards, event ticket, and travel opportunities available in an online rewards catalog) to your program participants, are you sending them the right message? If your participants fall into one of these four categories, then online rewards make excellent incentives:
Online rewards programs are based on the accumulation of digital reward points. That accumulation is best suited for groups you want to keep motivated for a long period of time, i.e. sales employees, sales reps, or channel distributors.
• Low Performers and Part-Time Customers
Online rewards offer easy-to-earn items like movie tickets, books and Redbox rentals. Your program motivates even low sales performers and part-time customers when this is the case.
• Those Motivated by Recognition
Online peer-to-peer recognition tools are easy to add to an online rewards program. This social reinforcement adds more personal value and meaning to your incentive program, which is great for groups who are driven by praise and recognition, such as Millennials.
The main three things keep in mind when considering whether to offer online rewards are: they’re diverse, digital and accumulative. If your goal is to motivate participants in the long-term, motivate large groups including mid- or low-performers or add personal value and meaning to your rewards, then an online reward program will likely be a great investment for you.