Recently, we exhibited at The Quirk’s Event West where market researchers travel high and far to learn about insights and shifts in the industry. We chatted with a variety of researchers who all had the same several pain points that go hand-in-hand with incentivizing research participants and panelists.
The demand for instant rewards is real.
It’s no surprise people want their earned reward, and they want them now. The beauty of going digital with incentives is the lightning fast delivery method that goes straight to the recipient’s inbox. Whether they are completing an online survey or participating in a focus group in the flesh, digital rewards are a quick and efficient way to reward people instantly.
Incentives are costly.
Cutting checks and relying on prepaid cards for can get pricey. With hidden fees, minimum requirements, and service charges incentivizing research participants and panelists can end up costing you more than you initially wanted. E-gift cards help decrease costs thanks to the parallel currency match. If you put $500 dollars into your incentives program, you will receive $500 worth of gift cards to send out. This no frills approach allows you to maximize your investment in incentives while increasing survey and panelist participation.
Fulfilling and managing incentives can be a nightmare.
Whether you are going out and physically buying rewards and keeping an inventory or purchasing rewards online, the operational side of incentive fulfillment and management can take up more time than desired. But how can you increase survey participation while decreasing your operational headache? Team up with an incentive partner to help ease the burden with start to finish program and recipient support plus reporting options that provide key insights into your incentive program.
Interested in learning more about the power of digital rewards? Check out www.tangocard.com for more information!
Written by Kasia McCormick
Kasia may be a fresh face on the Tango Card marketing team but her background in hospitality and PR make her the total package when it comes to telling Tango Card customers’ stories and organizing our customer advocate program. She also blends perfectly on the marketing team, where the two main themes are German Shepherds and tequila.