The health and wellness industry recognizes how implementing reward programs can motivate consumers and employees. A Novu survey found that “rewards act as an effective differentiator” to encourage individuals to take positive actions toward a healthy lifestyle.
Data is helping brands customize the reward experience. No more generic campaigns or messaging geared toward the masses.
Through personalization, businesses can develop targeted rewards programs and create a path for more intimate loyalty platforms with one-on-one relationships.
Physicians, employers, and even insurance companies encounter difficulties when incentivizing healthy behaviors amongst their audiences. People lose interest quickly or dislike the benefits altogether.
With digital rewards, wellness programs can offer desirable opportunities to engage people and improve their fitness and nutrition.
Outdated Rewards Programs
Some companies still operate under old rewards programs. Because their systems are out of touch with consumers’ needs, these businesses struggle to attract new people and maintain a dedicated following.
Does your loyalty system reflect the views of the current customer? Does it appeal to a particular group? If not, it’s time to change how your company approaches the reward and engagement framework.
Most consumers understand how loyalty programs work. The days of handing out plastic keyring cards are over. Not only can an individual easily destroy them, the production costs will negatively impact your bottom line.
Loyalty programs are failing to meet people’s expectations. Examine the image below.
Launching strategies without considering what individuals may want is a recipe for disaster. According to Brian Solis, principal analyst at the Altimeter Group, “Some businesses ‘talk at people,’ the opposite of actually taking their opinions into consideration and molding plans.”
Brands must build valuable customer relationships. Unlike companies who only focus on a purchase transaction, loyalty programs can have a greater impact if they help the consumer. A satisfied person buys more products and services, as a result an increase in your sales.
So, ditch your old-fashioned rewards program. Applaud positive behaviors and healthy living with a fresh approach. Move toward a paperless model, and leverage technology to boost your customer engagement.
Take Action: Evaluate your current rewards program for outdated practices.
Digital Rewards as the Solution
Rewards is one of the fastest growing healthcare solutions. In 2013, employers spent $594 per employee on incentives. Digital rewards help companies move beyond the old ideas of rewards, like redeeming airline miles for magazine subscriptions.
Moreover, marketers in several industries are using digital rewards to “motivate more referrals, user-created content and user-reviews.”
Engaging customers with digital rewards is the answer to our fast-paced culture. Modern loyalty trends show that consumers desire instant gratification. On average, Ifeelgoods’ users redeem rewards within two minutes.
The ifeelgoods platform can help your business develop turnkey digital rewards campaigns with our advanced tracking dashboard and easy integration. Creating a memorable digital reward experience lets your business build quality customer relationships.
Take Action: Integrate digital rewards into your loyalty system.
Examples in Action
To drive behavioral changes toward improved health outcomes, Walgreens created the Balance Rewards program to award points to customers for completing certain healthy actions.
With 82 million active members, points are earned for “various activities from walking and running to recording blood pressure and blood glucose readings,” says Walgreens President Alex Gourlay. Participants redeem points for discounts on in-store and online merchandise.
In 2014, Whole Foods launched Full Spoon, a business-to-business venture, to support employee wellness at work. The project helped workers develop “sustainable habits through educational seminars, easy online and mobile tracking, and healthy eating incentives.”
With a digital discount card, employees would earn cash and points towards discounts on healthy groceries. Online feedback on shopping routines also assisted with improving participants’ eating habits.
HumanaVitality is transforming wellness incentives. The program uses a “Vitality Points” system to offer rewards for being active, losing weight, and eating healthier.
The company leverages its buying power to give incentives that actually work. These rewards range from movie tickets to hotel stays to digital cameras.
The initiative wants people to understand the impact of their lifestyle choices. What they do today can affect how they live tomorrow.
“Telling a 35 year old smoker that smoking will reduce their life expectancy by 10 years isn’t motivational since it’s too far in the future. However, telling them they are living 10 years older now than their actual age is extremely motivating,” states Stuart Slutzky, chief of product innovation at HumanaVitality.
Take Action: Incentivize your employees with digital rewards to encourage healthy living.
Consider your rewards strategy as a consumer benefit. Customers want to receive something tangible in return for their participation. A tangible reward is a stronger motivator than an intangible like goodwill.
Ifeelgoods offers a catalog of 100,000+ rewards. Here’s an example of our games and entertainment selection:
Consumers “react better to small, incremental activities.” Just as you wouldn’t ask an employer for a raise during your first week on the job, you can’t ask participants to immediately switch their health regimens.
Instead, develop a tiered plan. Entice a tiny desired action and determine who gets what reward for each action. The benchmarks need to be easy to understand and attainable.
Then, your company can keep the budget balanced and the outcomes occurring. To improve the program, capture data to learn participants’ behavior and responses to your rewards.
It’s up to your team to offer ongoing support. If you ask for too much, too quickly, you risk losing the trust of the customer and increasing your churn rate.
Take Action: Develop a rewards strategy that will benefit participants and your business.
Mobilize Toward Digital Rewards
Promote healthy lifestyles with desirable rewards. Don’t let the old ways of thinking hinder your business from meeting your consumers’ needs. Observe industry leaders and execute profitable strategies.
Want to move your business and consumers forward? Implement a digital rewards program.