|
Reward Website
A reward website is a website that offers rewards for performing tasks, usually related to selected retailers and organisations. These tasks may include, buying goods or services through referral links, submitting content, participating in a survey or referral of members. Reward types Cashback rewards These are usually the simplest reward websites from the user's perspective, since the reward website will usually display a task and the amount of cashback that will be rewarded for completing the task. Cashback websites are often rewarded for online shopping and there is usually a threshold on when a customer can withdraw their earnings, driving loyalty to the cashback website. Points rewards These are usually less simple, since the reward website will usually only display the reward for performing a task in terms of points. These points can then be converted, for example into online gift vouchers. Alternatively, for each point collected, or after reaching a points threshold, custom ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Online Shopping Rewards
Online shopping rewards are a type of loyalty program to e-commerce shoppers. The advent of online shopping has resulted in the rapid development of many rewards programs that offer incentives for shopping. These programs may be points-based (redeemable for products or vouchers), cashback, airline frequent flyer-miles-based, hotel points, donations to charity, or even carbon offsets. These programs are often presented to the consumer as coalitions of large numbers of retailers, but are probably better described as competitive loyalty programs, to differentiate them from their precursors the original single retailer non-competitive loyalty program. The marketing model Rewards portals have grown very rapidly in most major markets, especially in the US, Canada, UK, and Australia. While they have roots in traditional off-line non-competitive loyalty programs, such portals often add considerably greater value to the customer than their traditional off-line equivalent, which account ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sweepstakes
A sweepstake is a type of contest where a prize or prizes may be awarded to a winner or winners. Sweepstakes began as a form of lottery that were tied to products sold. In response, the FCC and FTC refined U.S. broadcasting laws (creating the anti-lottery laws). Under these laws sweepstakes became strictly "No purchase necessary to enter or win" and "A purchase will not increase your chances of winning", especially since many sweepstakes companies skirted the law by stating only "no purchase necessary to enter", removing the consideration (one of the three legally required elements of gambling) to stop abuse of sweepstakes. Today, sweepstakes in the United States are used as marketing promotions to reward existing consumers and to draw attention to a product. By definition, the winner is determined by pure random chance rather than skill. Marketing Sweepstakes with large grand prizes tend to attract more entries regardless of the odds of winning. Therefore, the value of smal ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Incentive Program
An incentive program is a formal scheme used to promote or encourage specific actions or behavior by a specific group of people during a defined period of time. Incentive programs are particularly used in business management to motivate employees and in sales to attract and retain customers. Scientific literature also refers to this concept as pay for performance. Types Employee Employee incentive programs are programs used to increase overall employee performance. While employees tend to approve of incentive programs, only 27% of companies have such programs in place. Employee programs are often used to reduce turnover, boost morale and loyalty, improve employee wellness and safety, increase retention, and drive daily employee performance. Consumer Consumer incentive programs are programs targeting the customers of an organization. Increases in a company's customer retention rate as low as 5% tend to increase profits by 25%-125%. Consumer programs are becoming more widely u ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Incentive
In general, incentives are anything that persuade a person to alter their behaviour. It is emphasised that incentives matter by the basic law of economists and the laws of behaviour, which state that higher incentives amount to greater levels of effort and therefore, higher levels of performance. Divisions Incentives can be broken down into two categories; intrinsic incentives and extrinsic incentives. The motivation of people's behaviour comes from within. In activities, they are often motivated by the task itself or the internal reward rather than the external reward. There are many internal rewards, for example, participating in activities can satisfy people's sense of achievement and bring them positive emotions. An intrinsic incentive is when a person is motivated to act in a certain way for their own personal satisfaction. This means that when a person is intrinsically incentivised, they perform a certain task to please themselves and are not seeking any external reward, nor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Travel Incentive
Travel incentives are a reward subset of an incentive program, recognition program or a loyalty program, which is a business tool designed to change consumer behavior to improve profit, cash flow, employee engagement and customer engagement. It has been described as business travel that is designed to motivate or trigger action, as a reward for these actions from employees or business partners. This fosters loyalty and encourages the best talent for an organisation. When an organization properly designs an incentive program, which includes looking at all departments which will be affected, rather than just the impact to the department that is sponsoring the incentive, the return on investment can be proven. Oxford Economics USA wrote in a 2009 study that incentive travel investments yielded a return of investment of more than $4:$1. and stated that in order to achieve the same effect of incentive travel, an employee’s total base compensation would need to be increased by 8.5%. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Loyalty Program
A loyalty program is a marketing strategy designed to encourage customers to continue to shop at or use the services of a business associated with the program. Today, such programs cover most types of commerce, each having varying features and rewards schemes, including in banking, entertainment, hospitality, retailing and travel. The market approach has shifted from product-centric to a customer-centric one due to a highly competitive market and a wide array of services offered to customers, therefore, it's important that marketing strategies prioritize growing a sustainable business and increasing customer satisfaction. A loyalty program typically involves the operator of a particular program set up an account for a customer of a business associated with the scheme, and then issue to the customer a loyalty card (variously called rewards card, points card, advantage card, club card, or some other name) which may be a plastic or paper card, visually similar to a credit card, th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Loyalty Marketing
Loyalty marketing is an approach to marketing, based on strategic management, in which a company focuses on growing and retaining existing customers through incentives. Branding, product marketing, and loyalty marketing all form part of the customer proposition – the subjective assessment by the customer of whether to purchase a brand or not based on the integrated combination of the value they receive from each of these marketing disciplines. The discipline of customer loyalty marketing has been around for many years, but expansions from it merely being a model for conducting business to becoming a vehicle for marketing and advertising have made it omnipresent in consumer marketing organizations since the mid- to late-1990s. Some of the newer loyalty marketing industry insiders, such as Fred Reichheld, have claimed a strong link between customer loyalty marketing and customer referral. In recent years, a new marketing discipline called "customer advocacy marketing" has ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
