5 Ways Instant Incentives are changing Market Research.
About our speaker Jignesh Shah CEO @ Rybbon: Incentives Management for Market Research 20 years in Technology & Marketing Supported MR projects at WBA, SAP, Forward Financials and Balboa
Physical incentives are inefficient and expensive administrative burden Hours wasted on manual purchase, preperation and dispatch tracking and tallying incentives against projects and clients resolving errors and delays in delivery to participants Unhappy participants due to delays International incentives are hard Insufficient tracking & visibility for audits & compliance $7-$12 per incentive. Opportunity Cost of not investing these dollars to grow your core business. + More thoughtful gifts.
Quiz: How do you currently do incentives?
Digital Incentives E-Gift Cards Virtual Prepaid Digital Payments Card-less Cash
How Instant Incentives Work Buy Send Track Project 1 Project 2 . Project x Branding & Customization Management & Reporting Survey / Participant Database Integration
5 Ways Instant Incentives are changing Market Research Slashing project management burden and cost Speeding up research execution Expanding Reach to Global Participants Complying with regulations and audit requirements Keeping Participants Happy
1. Slashing Project Management Burden & Cost Example: Administrative overhead (hours) to send 3,000 incentives per year. 75% Mailing Checks Virtual Prepaid by Email
Digital incentives eliminate manual, time consuming tasks Buying Plastic Gift Cards Material & Postage Data Entry (Recipients list and rewards) Bank Trips Preparing and mailing checks Tracking & reconciling cash or checks Wrestling spreadsheets for project costs Resolving delivery errors and delays
2. Speeding up Research project execution Organize & Send 1 or 1,000 rewards in minutes Project 3 Load & manage recipient lists by Project Add recipients on-the-go Automate by integrating directly into survey and data collection systems. $ $ $ $ $ Project 2 $ $ $ Project 1 $ $ $ $ $ Great for qualitative research and multi-part studies! $
3. Expanding reach to global participants Virtual Visa Prepaid Delivered by Email Accepted in 150+ Countries
4. Complying with Regulations & Audit requirements Regulations. Example: Internal Policies & Monitoring
4. Complying with Regulations & Audit requirements One portal for tracking all incentives Detailed tracking of each incentive sent Automate reporting by client, project and recipient ✓ Support Regulation Compliance ✓ Support Internal Policies & Monitoring
5. Instant reward delivery = Happy Respondents Immediate delivery Any device More respondent retention More referrals 16
Offer respondents Speed and Choice Susan, thank you for your participation. Please choose how you would like to receive your reward. Receive a check by mail. $50 Receive Now. No waiting. Receive Now. No waiting. Completes in 10-15 days. More thoughtful gifts.
Strengthen personal connection with customized reward experience Reward arrives from your email address Present with your unique voice & messaging Drive engagement, offer: Sign up as panel member Refer another respondent Sign up for Newsletter 18
Quiz: How could Instant Incentives benefit you?
Meet Rybbon: Complete Incentives Management One place for US & International Rewards Incentives Management by Project Instant Delivery by email Detailed Tracking & Reporting API for integration
Q&A Complete Incentives Management See Demo: www.rybbon.net