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Did you ever have a hard time sleeping the night before Christmas? With presents just waiting to be opened and time slowly passing by, who hasn’t? The anticipation and joy that Christmas presents radiate are hard to beat; however, it’s not a bad idea to try to replicate as an adult. Merchandise rewards or tangible rewards will have longer-lasting effects than cash and can be a welcome change if all you’ve received prior were gift cards or digital rewards. There are some key benefits for participants and administrators with a physical item that many overlook. In fact, many forget that that corporate gifts remain popular motivational rewards, even in our current virtual world. Let’s look at the list we’ve compiled and cover them in detail.

Top 5 Benefits of Tangible Rewards for Incentive Programs:

  1. Trophy Value
  2. Motivation Value
  3. Longevity Value
  4. Desirability Value
  5. Savings Value

Trophy Value

We all know what a trophy is. It’s a memento of a time or achievement in your life. It can come in all shapes and sizes, and that includes the latest Apple product. Rewards like these become a symbol of your hard work, and they tend to be incentives that are hard to forget. With gift cards and cash, they usually disappear into the void of life, never given a second thought. With tangible merchandise, you can feel and touch your reward, and this usually hits an emotional chord with your participants. They can see themselves with the prize and know exactly what they could do with them. And that’s both motivational and enticing.

Motivation Value

Nothing is better than being recognized for your efforts. When a company provides a gift or tangible reward for a job well done, morale and job satisfaction are boosted. It’s almost as if the gift has an aura that makes people feel better about themselves and their work. I’d say that it’s the closest thing to a power-up in a game that you can get in real life. And who wouldn’t want a physical token to boost themselves at work?

Longevity Value

Studies have proven that motivation is increased when a tangible reward is provided. Participants will see their reward in the days that follow and become reminded of the sponsoring company each time. It’s a much more lasting effect than alternatives like cash, which will quickly disappear from your bank account and mind. A reward like a Tesla is harder to forget, especially when you see your achievement every day.

Desirability Value

People often desire a name-brand product but fall short of purchasing. They settle for a cheaper option, but there is still a desire for the expensive option deep down. It’s hard for some to splurge on themselves, which presents the perfect opportunity for a name-brand incentive product. Quality and craftsmanship matter, and your participants will appreciate products with more desirability. That said, this is a good reminder not to forget to choose a reward based on your audience’s desires instead of your own.

Savings Value

That’s right. A tangible reward can save the company money. This is usually done through discounts from merchandise partners and bulk orders. Not to mention, a new gadget will cost relatively the same year after year while also providing a consistent motivational impact. The equivalent can’t be said for cash or digital rewards since motivational impact more sharply decreases if the award amount remains the same each year. The trick is to key in on perceived value, and many times a shiny new gadget will be perceived at a higher value than it is worth. It’s a nice little quirk that can help you get the most out of your purchased rewards.

We hope you find these insights useful, and if you need help with your merchandise ideas, sourcing, or incentive programs, look no further than Brightspot. As a third-party incentive company, we can meet your needs with expert consulting and help you create the perfect incentive reward program. Our award-neutral stance also means we’ll provide solutions that are the best fit for your audience, including virtual and tangible rewards. Check out what we can do for you, and contact us today!

Derek Lilleskov

Author Derek Lilleskov

Derek is a Brightspot Program Manager, operating large-scale, global incentive programs. Derek has been a key member of the Brightspot operations staff with experience fulfilling every award type known to the incentive world – especially merchandise as he holds the title of Merchandise Subject Matter Expert. Derek maintains his Incentive Professional (IP) certification.

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