Virtual Rewards are non-physical incentives like points, badges, credits, or digital tokens that are delivered to a given audience in exchange for completing specific actions or producing desired behaviors.
Some examples of these behaviors include:
- Engaging with an online platform
- Participating in a sales incentive, referral, or loyalty program
- Completing an online training or learning module
Virtual rewards are designed to encourage consistent user participation through the use of meaningful reward structures and instant, trackable incentives. They are a common component in gamification strategies and can enhance user satisfaction while also reinforcing brand loyalty.
This type of reward is especially useful for driving engagement at scale, reducing fulfillment costs (versus physical incentives), and supplying companies with user behavioral data. When implemented strategically, they can be a valuable, cost-effective way for businesses to recognize and motivate their target audience, ultimately delivering a positive brand experience.
Foster Long-Lasting Relationships to Drive Incremental Business
Case Study
Automotive: Accelerating customer retention and sales growth
Automotive distributor Stapletons, were looking for a highly effective way to engage with customers and maximize relationships while safeguarding loyalty and influencing purchasing decisions to increase revenue.
See how 360insights created an immersive incentive promotion platform, that rewarded independent garages and wholesalers for their purchases.
This award-winning program produces a 4400% return on investment and sees a 177% increase in active users YOY, increasing transactions by 175%.