The power of using the right technology to boost incentive programmes

Misconceptions over cost and data distraction are preventing businesses from using incentive technology platforms to their full advantage. These ideas were discussed during a podcast entitled, Technology’s Role in Incentive Campaigns.

The discussion examined the technology available for incentive and loyalty campaigns, what this can accomplish, and the impact it can have on teams and business goals.

It was part of the Motivation Insiders series produced by the Incentive Engagement Solution Providers of the Incentive Marketing Association.

Increasing engagement and performance

The panellists, which included Chris Galloway, brand engagement strategy and design leader at Brandmovers, and Adam Small, VP of client success for global rewards solutions at CarltonOne Engagement, outlined how investing in incentive and engagement solutions are the most common recommendations for increasing employee engagement and improving performance.

Brandmovers is a leader in shopper promotions and loyalty programmes that connect leading brands and retailers with their customers. CarltonOne Engagement helps clients to build customised employee recognition programmes, loyalty programmes, channel sales, and incentive programmes, among other services.

Galloway said that many companies have misconceptions about the cost of incentive solution platforms or a misunderstanding about who should use one.

“There's a lot of companies based on their size who, for whatever reason, previously either they looked at technology and thought it was too expensive or they've looked at the technology and (decided) that's kind of overbuilt for what we need,” he said.

Moving award from whiteboards and Excel

Instead of using whiteboards and Excel to manage incentives and reward schemes, there is a better way, said Galloway.

“The cost of this technology has come down to the point that it makes sense for mid-market companies all over the world (to use it), he said. “The discussion around cost for incentive and engagement solutions ultimately becomes a ‘we can't afford not to invest proposition’.”

The benefits of incorporating incentive and engagement technological solutions into tech stacks include efficiency, greater engagement and simplifying the complexity of creating and operating the incentive campaign, so employees can focus on outcomes instead.

“It's going to increase the efficiency of the internal team to manage all the projects they need to,” said Galloway. “The optimal use of technology will increase the ROI of their programme. They're going to get greater engagement and they're going to get better results overall.”

Keeping the focus

He added that this approach is not only suited to those companies who go from not using technology at all to using some form of technology – it is also ideal for clients who have had a technology platform that may be somewhat antiquated. They can then upgrade it, with Galloway suggesting they would see 20% increases or more in ROI.

The panel also touched on how incentive platforms can very quickly become mired in logistics, such as data tracking, meaning businesses can lose sight of employee reward and recognition.

Panelists also discussed the role of AI and incentives, with Small outlining how his company uses AI to create personalise reward websites that function much like an Amazon or other online retailer.

“Any type of AI application should enhance and deepen the overall experience of that member or customer with your brand, by making the overall experience better, such as offering them something that aligns to their interests in that particular moment,” said Small.