Imagine going through the process of redeeming your reward after working tirelessly to sell a specific brand’s product and then receiving your reward in an undesired form of payment.
The experience for the associate becomes disappointing and deters them from investing anymore time selling or promoting your product in the future. Which means, all those hours you spent providing them with useful information and building their trust is now gone.
The solution to avoid this? Reward your associates in a way that is exciting and gratifying.
It’s time to harness the capabilities of your associates, and one of the principal ways of doing this is to not only provide them with leading rewards methods but also provide claimants multiple options of reward methods.
In order to aid your channel marketing efforts, here are the top 5 leading methods of incenting your sales associates:
Pre-paid cards are similar to credit cards in that they offer the claimant ultimate flexibility and convenience and can be redeemed anywhere Visa and MasterCard are accepted. Having pre-paid cards as an option also allows for easier redemption by allowing them to re-load and spend their dollars online.
Rewards cards are a great option for brands that want to send their claimants to a specific retailer. Rewards cards can be used for any product, however restrictions are given by the brand on where a claimant can spend their money. Giving the brand control on where they want their claimant to shop.
Everyone knows how cash works. It’s flexible, convenient and offers no restrictions, claimants can use it anytime, anywhere, and program operators don’t have to deal with choice options or product sourcing. Although highly beneficial to those claimants who just want to get paid, it lacks the digital aspect (re-loading options and online shopping) that a lot of claimants prefer.
Branded merchandise gives your claimants an opportunity to shop online at their leisure, or to be sent a predetermined piece of merchandise with a branded logo. This type of reward is beneficial for brands with a set budget as it lets you select what merchandise you’d like to give out and estimate the total cost. In addition, merchandise can aid in advertising with partners, and is a visual motivator that is easy to promote across the channel.
Travel rewards are for brands that want to reward their associates in a unique way. Travel rewards give the claimants a once in a lifetime experience. The reward can be offered as a group reward to a predetermined destination or as an individual trip that allows the winner to decide the destination and date. The aspirational aspect of travelling can create the perception of higher value.
The type of reward you chose however can’t be determined without some sort of field knowledge, research or insight. Whether you discover it through surveys, polls or have a simple face to face conversation with your sales channel, determining what your associates would prefer is critical for program success.
It’s time to harness the capabilities of your associates, and start incenting them in their preferred way.