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5 ways instant incentives are changing market research

Date post:22-Jan-2018
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  1. 1. 5 Ways Instant Incentives are changing Market Research.
  2. 2. About our speaker Jignesh Shah CEO @ Rybbon: Incentives Management for Market Research 20 years inTechnology & Marketing Supported MR projects atWBA, SAP, Forward Financials and Balboa
  3. 3. Physical incentives are inefficient and expensive administrative burden Hours expended on manual purchase, preparation 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 3 $7-$12 per incentive. OpportunityCost of not investing these dollars to grow your core business. +
  4. 4. Digital Incentives E-Gift Cards Virtual Prepaid Digital Payments Card-less Cash
  5. 5. How Instant Incentives Work Buy Send Track Project 1 Project 2 Project x . . . Branding & Customization Management & Reporting Survey / Participant Database Integration
  6. 6. 5 Ways Instant Incentives are changing Market Research 1. Slashing project management burden and cost 2. Speeding up research execution 3. Expanding Reach to Global Participants 4. Complying with regulations and audit requirements 5. Keeping Participants Happy
  7. 7. 1. Slashing Project Management Burden & Cost 505 115 Example: Administrative overhead to send 3,000 incentives per year. Virtual Prepaid by Email Mailing Checks 75% hours hours
  8. 8. Digital incentives eliminate manual, time consuming tasks
  9. 9. 2. Speeding up Research project execution Organize & Send 1 or 1,000 rewards in minutes Load & manage recipient lists by Project Add recipients to payout project as and when needed Automate by integrating directly into survey and data collection systems. Great for qualitative research and multi-week studies! Project 3 $ $ $ $ $ Project 2 $ $ $ Project 1 $ $ $$ $ $
  10. 10. 3. Expanding reach to global participants VirtualVisa Prepaid Delivered by Email Accepted in 150+ Countries
  11. 11. 4. Complying with Regulations & Audit requirements Regulations. Example: Internal Policies, Checks & Balances
  12. 12. 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
  13. 13. 5. Instant reward delivery = Happy Respondents Immediate delivery Any device More respondent retention More referrals 14
  14. 14. Offer respondents Speed and Choice 15 Receive Now. No waiting. Susan, thank you for your participation. Please choose how you would like to receive your reward. Receive a check by mail. Completes in 10-15 days. $50 Receive Now. No waiting.
  15. 15. 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 16
  16. 16. Meet Rybbon: Complete Incentives Management Full Range of Incentives:WorldwideVisa, Gift Cards, Checks Project-based Incentives Management Instant delivery by email Detailed rewards & cost tracking
  17. 17. Q&A Complete Incentives Management See Demo: www.rybbon.net

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