Do Incentive Programs Really Work? Here are 9 MORE Research Backed Incentive Facts
And we’re back with 9 more astounding incentive facts. We got some great feedback from our previous article, Do Incentives Truly Motivate? Here are 10 Researched Facts about Incentives and wanted to come back with some more research backed facts for you guys.
Do we head to the gym in the morning for our inner health or do we do it for our outer beauty? How and where does our motivation come from? For many people and businesses, incentives can be a powerful and effective way to motivate their ideal audience into specific actions and achievements.
Below are 9 more research backed incentive facts about Incentive Programs and your audience’s interest in them, for you to digest.
Nearly 75% would engage more with loyalty programs that make rewards information mobile-friendly. - CodeBreaker
Millennials belong to more loyalty programs than folks from older generations. The young ones champion prepaid and gift cards, physical and virtual, as rewards. - Hawk Incentives
Millennials’ average membership in 6.5 programs with active participation in 4.2 made the generation stand out from the whole: 6.2 programs and 3.9 active. Hawk Incentives
Millennials’ average membership in 6.5 programs with active participation in 4.2 made the generation stand out from the whole: 6.2 programs and 3.9 active. - Hawk Incentives
Nearly 23 percent of prospects who received an incentive not only opened the email, but clicked to print the e-coupon, almost twice as high as MileOne’s typical email “open” rates. - Hooklogic
Prepaid cards are preferred: When given the choice of a $50 Visa or MasterCard prepaid card or $50 worth of gift cards as an end-of-year reward or holiday gift, 81% would choose a prepaid card. When asked about their favorite features of prepaid cards, the majority of employees pointed to the fact that prepaid cards can be spent anywhere the card brand is accepted and at multiple retailers. - Parago
70% of all US businesses now use gift card incentive programs. - IRF 2017 Trends Study
82% of Millennials said points redemption for currency on a prepaid or gift card compelled them. - Hawk Incentives
Three-quarters (77%) believe stores that understand their buying behaviors could create more useful loyalty programs, and 57% say they are willing to share their data in exchange for better loyalty rewards. - Universal Reward Protocol
So what do you think? Ready to start your own incentive program today for any one of your audiences?