Reward website
Encyclopedia
A reward website is a website that offers rewards for performing tasks, usually related to selected retailers and organisations. These tasks may include, buying goods or services through referral links, submitting content, participating in a survey or referral of members.
and there is usually a threshold on when a customer can withdraw their earnings, driving loyalty to the cashback website.
. This means that the website only ever gives away a pre-determined prize, regardless of how many points are given away.
Cashback rewards
These are usually the simplest reward websites from the user's perspective, since the reward website will usually display a task and the amount of cashback that will be rewarded for completing the task. Cashback websites are often rewarded for online shoppingOnline shopping rewards
Online shopping rewards portals are a relatively new type of loyalty program.The advent of online shopping has resulted in the rapid development of a large number of rewards programs that offer incentives for shopping...
and there is usually a threshold on when a customer can withdraw their earnings, driving loyalty to the cashback website.
Points rewards
These are usually less simple, since the reward website will usually only display the reward for performing a task in terms of points. These points can then be converted, for example into online gift vouchers. Alternatively, for each point collected, or after reaching a points threshold, customers sometimes receive an entry into a sweepstakeSweepstakes
The United States consumer sales promotion known as a sweepstake has become associated with marketing promotions targeted toward both generating enthusiasm and providing incentive reactions among customers by enticing consumers to submit free entries into drawings of chance...
. This means that the website only ever gives away a pre-determined prize, regardless of how many points are given away.
Share rewards
Share rewards websites allow customers, on becoming a member of the site, to become a shareholder in the website or a company related to the website. Customers, on completing tasks such as online shopping, can then increase their stake in the website.See also
- Incentive ProgramIncentive programAn incentive program is a formal scheme used to promote or encourage specific actions or behavior by a specific group of people during a defined period of time. Incentive programs are particularly used in business management to motivate employees, and in sales to attract and retain customers...
- IncentiveIncentiveIn economics and sociology, an incentive is any factor that enables or motivates a particular course of action, or counts as a reason for preferring one choice to the alternatives. It is an expectation that encourages people to behave in a certain way...
- Travel incentiveTravel incentiveTravel incentives are a reward subset of an incentive, recognition or a loyalty program, which is a business tool used to change behavior to improve profit, cash flow, employee engagement and customer engagement....
- Loyalty ProgramLoyalty programLoyalty programs are structured marketing efforts that reward, and therefore encourage, loyal buying behavior — behavior which is potentially beneficial to the firm....
- Loyalty MarketingLoyalty marketingLoyalty marketing is an approach to marketing, based on strategic management, in which a company focuses on growing and retaining existing customers through incentives...