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
Online shopping is a form of electronic commerce which allows consumers to directly buy goods or services from a seller over the Internet using a web browser or a mobile app. Consumers find a product of interest by visiting the website of the ...
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, customers sometimes receive an entry into a
sweepstake
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 ...
. This means that the website only ever gives away a pre-determined prize, regardless of how many points are given away.
Share rewards
Share rewards websites allow customers, on becoming a member of the site, to become a shareholder in the website or a company related to the website. Customers, on completing tasks such as online shopping, can then increase their stake in the website.
See also
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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 ...
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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 ...
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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 ...
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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 ...
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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 c ...
References
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