We’ve talked previously about how to use rewards to improve customer feedback- and it’s value for retaining customers. Missed that post? Read it here.
When it comes to simple yet useful business rewards, it’s hard to go wrong with gift certificates and discount coupons. Nearly every retailer and service provider offers gift cards with different values, making them convenient as employee incentives.
Best of all, gift cards give your recipients the freedom to choose their reward. It minimizes the guessing from rewarding and gives added assurance that your recipients will love what they receive. Sending gift cards is a perfect way to show appreciation and say thank you to whomever is receiving the reward. As easy and convenient as they may be, this still comes with its own challenges. How do you select company rewards? How do you ensure they get into the hands of your customers, and how do you automate the process while not costing you time and resources beyond the value of the gift itself?
We’ve got the best-kept industry secret for customer rewards, and we’re sharing it with you. In fact, we use it ourselves.
What Is Rybbon?
Rybbon is a digital rewards management platform. Using this tool, you and your company can greatly streamline the incentivization process — whether it is geared towards rewarding your employees, your customers, or your survey respondents.
Although there is a certain appeal to opening gifts, the process to get there can be tedious and time-consuming. From choosing gift cards and buying them to cross-checking your data and mailing out the physical rewards — all of this can take up hundreds of hours.
Rybbon simplifies these processes.
The platform makes it easy to choose business rewards, set achievement criteria, highlight outstanding performance, and send out gift cards to the appropriate people. It helps you free up hours of time spent on sending rewards and other related administrative duties.
With the majority of business employees still working remotely, having a digital rewards management tool is even more important. Not only does it make the work easier and more convenient but the mostly automated platform makes it so that you don’t forget to recognize and motivate your people.
Regardless of whether your aim is to recognize your employees, increase conversions, or reward consumers, Rybbon is the perfect rewards program partner.
How Does the Rybbon Program Work?
Rybbon is a feature-packed service with an intuitive and easy-to-use interface. The platform allows you to create business rewards or incentive campaigns, set different criteria for each, and make curated lists of rewards your employees or customers can choose from.
The platform automates most of the work necessary. This includes filtering and identifying qualified recipients, delivering gift email notifications, tracking claims, and more. At the same time, you can retain control over the approval process, setting reward caps, and redemption windows.
Once you create your own Rybbon account, you can get started right away with optimizing and digitizing your business rewards program.
Rybbon Pricing Plans
Rybbon has three different pricing plans: On Demand, Team, and Enterprise. Each one targets different customers, ensuring all types and sizes of businesses can find one pricing plan to suit their needs.
On Demand is a pay-as-you-go option. This allows even small and mid-sized businesses to create rewards campaigns on an as-needed basis. Most importantly, they only need to pay for 10% of any claimed reward value.
Team is geared towards large teams managing several business rewards programs. It is an annual subscription that costs almost $2,000 annually. For that price, customers get data masking, tracking and reporting, and Visa or Mastercard rewards.
Enterprise is the final annual subscription plan. This option is priced at nearly $6,000 per year and offers advanced features, such as advanced branding, single-sign on solution, and the ability to create multiple Rybbon accounts under one paid plan.
All three plans are very flexible, allowing businesses to create custom gift email pages and choose from a wide range of gift cards. Additionally, all three plans allow you to integrate Rybbon with other third-party tools you already use, including HubSpot and SurveyMonkey.
Automated Refunds and Reminders
One of Rybbon’s biggest customer draws, though, is its 100% refund for any unclaimed rewards. This is an automatic feature, as well.
Unclaimed rewards are more common than you may think. Even recipients that are extremely excited and thankful for your rewards might end up not claiming them. They might be too busy or simply too forgetful. Regardless of the reason, it still happens.
With Rybbon, you are guaranteed to get your money back for purchased yet unclaimed rewards. The automated refunds are processed once the virtual gift cards are not claimed within your chosen redemption window. This way, you don’t waste money on unclaimed gifts and instead can use them towards funding other campaigns.
Just as Rybbon does its part to help your business save precious pennies, it also does its part to prevent any unhappy reward recipients who missed their claim deadlines. The platform sends automatic reminders to your recipients to ensure everyone is happy and satisfied.
Robust Reporting and Analytics
Rybbon also provides you with robust reporting and analytics. Each campaign is meticulously tracked — from the available rewards, the redemption or claim rates, refunds, and more.
This not only helps you keep track of who isn’t getting their well-deserved gift but also helps your company when it’s time to file taxes.
The data Rybbon compiles about your rewards program includes a full income report. You see and verify the total reward value that each individual recipient has redeemed within specific periods. This makes it easier to include the costs as part of any tax report requirements.
Where Can You Use Rybbon?
Rybbon can be used in both the customer-facing and employee-facing sides of your business. Additionally, it can be used for incentivizing marketing promotions, market research, and academic research.
Sending gift cards as rewards is a great way to motivate both employees and customers but isn’t always the best or most exciting way to reward research participants.
With research or survey respondents often needing to answer a long set of questions, incentivizing and gamifying the survey can help boost survey completion and authentic responses. That’s where Rybbon’s points-to-rewards platform, PointsJoy, shines.
Best of all, it can be integrated with other widely used research and marketing platforms. This makes it easier to track and manage point collection, view participants’ points history, and provide the necessary rewards automatically.
What Digital Rewards Does Rybbon Offer?
If you still need a little push to use the Rybbon rewards program, perhaps this will help.
Rybbon has an extensive selection of digital or e-gift cards you can choose from. Its choice of rewards isn’t limited to U.S. retailers, either. They also have e-gift cards for retailers in the U.K. and other countries.
You can choose specific gift cards as rewards or create a curated set of gift cards that your recipients can choose from. This gives them greater control over their reward and increases your chances of providing useful and satisfying gifts.
They offer rewards from big names like Apple, Barnes & Noble, Starbucks, and Sephora. Rybbon also has e-gift cards for delivery services, like DoorDash and UberEats, as well as digital streaming services, like Hulu and Twitch.
They even offer gift donation rewards for charitable organizations, including the American Red Cross, Clean Water Fund, and Habitat for Humanity.
There’s no denying that many employees and customers would love to receive cash as an incentive or reward. Rybbon took this into account, as well. The digital rewards management platform also offers cash equivalent rewards through e-gift cards from Visa, Mastercard, and PayPal.
How a Rewards Program Helps Your Business
Everyone loves getting free stuff. This is the reason why business rewards, loyalty, and incentive programs work.
We’re sure you can’t deny the happiness you would feel if you were recognized and rewarded for a job well done. Knowing your company sees your efforts and appreciates what you are doing is a great motivator to work harder and do better.
That’s the power of positive reinforcement. Even small positive affirmations and rewards go a long way. Here are a few ways implementing a rewards program can help your business.
Boost Employee Morale
Employee incentives can instantly boost morale. It shows your employees that you see their efforts and appreciate their efforts towards helping your company succeed. High employee morale can help lower absenteeism and improve employee retention.
Boost Employee Performance
Improving productivity and boosting overall employee performance is another benefit you can gain from implementing a rewards program. This is also tied to better employee and team morale. When your employees see that you reward good performance and take care of your people, they will be motivated to improve and show better results.
Enhance Consumer Experience
On the side of consumers, a business rewards or loyalty program contribute towards creating a wholesome and enjoyable customer experience. It helps you gamify their experience as well, adding an element of excitement. Additionally, receiving freebies and rewards helps customers feel greater satisfaction and form a positive opinion of your business.
Get More Feedback
Many people find answering surveys and giving feedback to be a tedious yet thankless endeavor. By providing customer and employee incentives for completing feedback forms, you are showing you appreciate them taking the time to provide you with valuable data.
You can increase conversions by offering quality gift rewards to both employees and customers. Employee incentives motivate marketers to work harder and ensure their leads convert to actual clients or customers. On the side of your customers, having a points-to-rewards system tied to each step of the sales journey can persuade them to purchase your product.
Encourage Repeat Sales
Incentives aren’t just for motivating your employees — they also serve to encourage your customers to keep coming back. Offering special rewards in return for purchasing your products or using your services a set number of times also gamifies the experience. This triggers powerful emotions and helps create positive user experiences.
Strengthen Brand Loyalty
Positive user experiences strengthen good feelings towards your company and your brand. This not only encourages repeat sales but instills and strengthens brand loyalty. Your customers are more likely to choose your business over others due to associating your brand with positive emotions. They have a certain level of assurance that just as you reward them for supporting your store, you will also ensure their future experiences are favorable.
Create Brand Advocates
Rewards programs help you create authentic and loyal brand advocates. Happier customers and employees are more likely to positively represent your business. Always remember that satisfied customers are vocal about their experiences. They can provide free advertising or referrals to their own network of friends and family. This can help improve your brand penetration and recognition.
Avoid Own Product Discounts
Offering gift cards at other stores and points-for-discounts as rewards to loyal customers helps you avoid placing steep discounts on your own products for everyone else. This helps you maintain your retail price for the general public while still showing appreciation to your loyal clients or customers.
The Bottom Line
A well-thought and well-executed rewards program lets you give back to the people who are helping your business succeed. It isn’t something you can implement on a whim and without proper preparation or consideration of the recipients.
If you want to improve your relationships with your employees, customers, clients, and research respondents, you need a solid rewards program. For a solid rewards program in the digital era, you need Rybbon.
Going digital is the future of almost anything business-related — much more so now that many employees work remotely and consumers shop online. Take your rewards program to the next level with Rybbon and see the difference it makes to your bottomline.