With so many reward options to choose from, it’s easy to get carried away with choosing rewards that seem cool or simply cost the least. But investing the time to carefully curate and promote the right types of rewards can help program managers attain specific program goals.
We’ve created a Rewards Cheat Sheet to help you navigate the different types of rewards. You can either start with your business goal to lead to the ideal rewards or start with the type of rewards and track the business goals it can help with.
How to get the most from the cheat sheet:
- Align on your program goals
- Summarize the different types of rewards your program offers
- Use the cheat sheet to check if the reward types you offer match your program goals
- Sort the reward types you offer by percentage of your catalog. This will give you a sense of how much your catalog choices reflect or differ from your program goals
- Revise the rewards you offer to reflect program goals
Another helpful test is to look at your redemptions by rewards category. This will give you insight to the types of rewards your customers are actually redeeming. You may need to reconsider the types of rewards you are promoting to direct your customers to the rewards you want them to redeem.
Lastly, it’s important to remember that rewards catalog curation is a more art than science. You’ll need to balance selecting rewards to meet program goals with rewards that your customers want to redeem.
Download the Rewards Cheat Sheet and start optimizing your rewards catalog today.