Category: Market Research

How To Improve Participant Experience in Market Research

Posted on by Geoff Miller

NeoCurrency Market Research Incentives

Enhancing participant experience in market research is crucial for obtaining high-quality data and fostering positive relationships with respondents.

A well-designed participant experience not only ensures ethical compliance but also boosts engagement, satisfaction, and response rates.

This article explores practical strategies to improve participant experience, from simplifying consent processes to providing appropriate incentives, ensuring your research efforts are effective and respectful.

1. Simplify the consent process

Informed consent guarantees everyone understands the research, including risks and benefits, before agreeing to participate. In market research, respondents agree to participate with the assurance that the business will protect their identity, data, personal information, and that any NDAs will be honored. Upholding these principles maintains ethical research practices and instills confidence in research subjects.

To simplify consent, use clear and straightforward language and transparently explain data use, storage, protection, and anonymity. Be sure to design user-friendly, easy-to-read documents. 

Make the process as smooth and informative as possible.

2. Be kind to unqualified candidates

In automated and in-person scenarios, processes must not be impersonal or abrupt—especially when dealing with unqualified candidates.

Personalized communication acknowledges the candidate’s effort and time, demonstrating respect and appreciation. Providing constructive feedback, even in automated rejection emails, offers candidates insight into why they weren’t selected and provides growth opportunities. 

Maintaining professionalism and empathy throughout all interactions, offering resources or guidance for further development, and considering the candidate’s experience are essential practices. Training staff to handle interactions with empathy and professionalism contributes to a compassionate approach, preserving candidates’ dignity and enhancing the company’s reputation.

3. Make the research engaging

Ensuring participants remain interested throughout the research process increases engagement and the quality of responses.

Shortening surveys, simplifying questions, and incorporating interactive elements like sliders and drag-and-drop features enhance participant involvement. Implementing a mix of different types of questions (such as open-ended questions, interactive elements, and multimedia) can effectively capture and maintain attention.

When respondents are engaged, they provide more detailed, thoughtful, and honest feedback, which is crucial for accurate and valuable research outcomes. Using interactive and varied research methods significantly improves the user experience and overall effectiveness of the research.

4. Provide an incentive

Providing incentives is a straightforward yet effective way to boost participation in market research. Incentives reduce the rate of recruitment failure and study termination. Whether monetary rewards, gift cards, or entry into prize drawings, incentives motivate individuals to participate and finish their studies. 

Even small incentives significantly increase response rates and create a diverse pool of respondents. By offering rewards for their time and input, participants feel valued and appreciated, making them more likely to engage in future studies. 

5. Align incentives with the type of research

Choosing the right incentive for market research impacts the participant experience. The type and value of the incentive must align with the commitment and involvement required from participants.

This is why bulk gift cards work well for targeted email campaigns seeking underrepresented demographics. They acknowledge participants’ efforts and increase response rates, making them suitable for activities requiring moderate engagement.

Participants may prefer monetary payments or exclusive access to unreleased products for in-person case studies, especially when the brand is highly prestigious. These incentives add substantial value to their participation, reflecting the required time and effort.

Those completing shorter, less demanding surveys might be content with entry into prize drawings. Companies can incentivize lower-commitment activities with smaller rewards.

6. Simplify the reward collection process

A smooth reward collection process is the last step for a successful market research participant experience. The people who invest time and insights want quick reward distribution. It shows respect for their contributions.

Clear instructions enhance participant convenience and reduce any potential confusion. Digital rewards offer significant benefits for quickly collecting rewards. Instant electronic reward delivery ensures instant access, while customization adds a personal touch. 

7. Offer choice and flexibility in rewards

Offering participants various reward options is key to boosting their motivation and satisfaction in studies. It acknowledges their diverse preferences and lets them choose rewards that suit them best.

Bulk gift cards are ideal because they provide many choices and flexibility. In a recent study, gift cards for food or merchandise were the only tangible gift with cash value to round out the top tier of recognition preferences.

It’s essential to partner with a digital incentive expert with a wide selection of brands, like Neocurrency, which offers access to over 2,000 brands. The right partnership opens the door for participants to select rewards from their favorite retailers, enhancing the incentive program’s effectiveness and excitement.

8. Highlight prestigious brand partnerships

Partnering with well-known brands for rewards significantly boosts the value of market research participant experience. Participants perceive rewards from renowned brands as more valuable and desirable, motivating them to participate actively and provide thoughtful responses. Respondents who receive rewards from prestigious brands are more excited and satisfied. It also reinforces the legitimacy and credibility of the research project.

9. Address global reach and accessibility

Offering rewards that customers can use globally ensures inclusivity and accessibility in market research. It allows research subjects from different regions and backgrounds to engage in research activities and fully benefit from their contributions.

Partnering with NeoCurrency for bulk gift cards is a wonderful way to offer global reach and accessibility. These gift cards can be used in over 50 countries, providing a convenient and versatile option for respondents worldwide. Participants easily redeem their rewards regardless of location and enjoy the benefits of various brands and retailers. It cultivates a more inclusive and diverse participant pool, leading to richer and more representative research insights.

What does beneficence mean in market research?

Beneficence in market research means conducting studies to maximize benefits and minimize harm to participants.

This principle is crucial for ethical integrity, data quality, legal compliance, and public trust. By adhering to beneficence, researchers can significantly improve the participant experience, which is the focus of this article.

Securing informed consent, protecting confidentiality, respecting participants, and offering feedback are key practices. These measures enhance the participant experience by fostering transparency, security, and respect. When participants feel valued and protected, their engagement and satisfaction increase, leading to higher-quality data and a positive perception of the organization.

Fostering beneficence directly contributes to improving the participant experience in market research.

Partner with NeoCurrency to improve participant experience

Simplifying the consent process, showing kindness to unqualified candidates, and engaging participants through interactive surveys are vital practices. 

One of the most important considerations for engaging participants is providing appropriate incentives aligned with their commitment levels. Another key detail is implementing a smooth reward collection process to offer flexible and diverse rewards from reputable brands. Among others, these practices promote a trustworthy and effective market research environment.

Partnering with the market research rewards experts at NeoCurrency opens the door to accessing thousands of global brands that are accessible to respondents all over the world. 

With access to 2,000 stores across 50 countries, NeoCurrency’s bulk gift cards provide unparalleled flexibility and global reach for your market research incentives. 

Request a demo with NeoCurrency to enhance your participant engagement today!

Recommended articles (Helpful links)

What Are the Best Incentives for Market Research?

Posted on by Geoff Miller

What Are the Best Incentives for Market ResearchConsumer opinions change rapidly, and companies must continuously gather insights to stay ahead of the competition. But how do you convince busy consumers to share their thoughts and preferences? 

The answer lies in offering compelling incentives for market research. Whether through monetary rewards, exclusive access, or creative experiences, the right incentives transform your market research from a chore into an engaging opportunity. 

This article explores the most successful incentives that attract participants and quality feedback—driving your business to success.

Cash incentives

Direct cash payments prove highly effective in market research, quickly attracting numerous people. Recent studies highlight cash’s superiority over vouchers or lottery tickets in boosting participation rates. Cash’s appeal is in its immediate, tangible value and easy understanding. 

However, the cost of cash rewards and the risk of attracting individuals solely motivated by money counterbalance its advantages. Cash incentives also face limitations in international studies due to currency differences. 

Despite these drawbacks, cash incentives excel in time-sensitive research, where extensive participation is necessary, and when addressing less engaging topics.

Gift cards and digital rewards

Gift cards have surged in popularity as incentives for market research. An impressive 10.29% annual growth rate showcases their widespread desirability among consumers.

Bulk gift cards offer the best of both worlds. They function as cash equivalents, ensuring flexibility for consumers while enabling researchers to optimize cost-effectiveness.

Renowned brands further increase the perceived value of gift cards, enhancing their appeal among partakers. With the emergence of digital gift cards, the immediacy of rewards is another compelling benefit, providing recipients with convenient and hassle-free redemption options online or in-store.

The inclusion of globally accepted options like Visa and Mastercard prepaid cards expands the reach of these incentives, encouraging worldwide studies by eliminating geographical and currency barriers.

Your next coffee is on us!

Merchandise incentives or coupons

Merchandise incentives for market research range from physical goods to branded products. These incentives carry appeal due to their tangible nature and perceived value. Branded merchandise evokes a sense of exclusivity. The success of these incentives relies on their ability to offer novelty or usefulness. 

However, it’s worth noting that approximately 66% of promotional products are discarded in landfills, highlighting the importance of considering a sustainable and eco-friendly alternative. 

Merchandise incentives are best suited for scenarios where individuals prioritize physical items over monetary incentives, such as targeting audiences with strong brand affiliations or specific product interests.

Get your free Tshirt with a survey

Points-based systems

Like loyalty and reward points programs, points-based systems offer a structured approach to incentivizing market research feedback. Participants accumulate points for completing surveys or other research activities, which they can later redeem for prizes. 

These systems foster loyalty and sustained engagement by providing a clear pathway to earning incentives over time. Point systems are wise strategies because they turn the research into a game, which keeps people engaged and giving feedback. 

This strategy aligns with Generation Z’s preferences, with 81% noting loyalty or rewards programs influence their decision to maintain relationships. However, managing points systems is complicated, and delayed compensation may deter some people.

Get reward bonus points by giving your opinions

Experiential incentives

Experiential incentives, such as events, workshops, and exclusive experiences, offer unique opportunities beyond traditional offerings. They create memorable and enriching experiences that stand out from the competition. Examples of experiential incentives include VIP access to product launches, behind-the-scenes tours, or personalized workshops with industry experts.

While such niche experiences tend to engage participants deeply and elicit valuable feedback, they may attract only those already interested or familiar with the company. Consequently, this selectiveness could result in less randomized feedback and fewer contributors overall.

Charitable donations

Charitable donations serve as unique incentives in market research, allowing participants to contribute to meaningful causes while engaging in surveys or studies. These incentives benefit both consumers and brands.

For consumers, charitable incentives offer a sense of fulfillment and purpose beyond personal gain, cultivating a positive emotional connection to the research process. Brands benefit from improved brand perception and reputation by aligning themselves with charitable initiatives, showcasing their commitment to social responsibility. 

One successful example of a charitable incentive program is American Express’s “Members Give” program, where cardholders donate reward points to various philanthropic organizations. This program encourages individuals to use their American Express card over others and enhances brand loyalty by associating it with charitable efforts.

How do you know which incentives to pick for market research?

When selecting incentives for market research, it’s crucial to consider factors such as brand recognition, location, and budget. Align incentives with your brand identity to reinforce recognition and reputation. Additionally, companies must consider location-specific preferences and cultural nuances to ensure that incentives resonate with participants. Budget is also vital. Opting for cost-effective options allows for savings while still providing valuable rewards.

The type of market research should guide the selection of incentives, ensuring they align with people’s motivations and research objectives. In this regard, bulk gift cards are ideal, offering flexibility, cost-effectiveness, and broad appeal. By covering multiple bases, gift cards are a perfect solution for incentivizing participation in market research endeavors.

Conclusion: NeoCurrency for market research incentives

Gathering insights swiftly and productively is crucial for businesses to maintain their competitive edge. Cash incentives and equivalents quickly attract participants due to their immediate, tangible value.

Gift cards offer flexibility, cost-effectiveness, and immediate, convenient rewards. Merchandise incentives appeal to those who value physical items and brand exclusivity.

Points-based systems create sustained engagement through redeemable rewards over time. Experiential incentives provide unique, memorable experiences that deeply engage participants. Charitable donations enhance participation by offering a sense of fulfillment and purpose.

Gift cards are a top choice due to their brand appeal, variety, and bankless transferability. With bulk ordering and delivery, gift card API, customizable email templates, and a global reach that includes Visa and Mastercard prepaid options in over 120 countries—NeoCurrency simplifies the process. 

Contact NeoCurrency today to discover how their expertise can help your unique business select the top incentives for market research.

Recommended articles (Helpful links)

How to Use Bulk Gift Cards to Improve Market Research Results

Posted on by Geoff Miller

How to Use Bulk Incentives for Market Research

Gift cards are unquestionably powerful motivators in market research participation. They make excellent tokens of appreciation for feedback and are highly appealing to participants.

When incentivizing participants with gift cards, you’ll wonder what types to use, what amount to offer, and how to buy them wholesale to maximize your research budget.

Explore the best practices for offering, purchasing, and disbursing bulk gift cards in market research. 

What are the benefits of using bulk gift cards for market research incentives? 

Bulk gift cards offer several benefits to researchers and participants. Compensation improves data quality and reduces bias, and subjects have a reason to share valuable feedback.

Gift cards have universal appeal and are comparable to cash, which makes them a compelling offer for market research subjects. This compensation method caters to diverse audiences because it’s available in multiple countries and doesn’t require bank transactions to participate.

Bulk gift cards are more cost-effective. Bulk purchases let researchers save anywhere from 2% to over 10% for gift cards to top brands and retailers. Researchers also don’t have to manage purchasing, tracking, or complicated claims processes. They’re much easier to distribute than cash or checks.

What are the best practices for using bulk gift cards for market research? 

The details of the gift card, such as the amount and type, influence the research goals and the established budget. Consider who the intended participants are and how much of their time the survey requires.

Offer flexible gift card options

Flexibility is critical for the gift card type. Participants will be more motivated if they feel they have some level of control over the incentive. A bulk gift card provider offers many options based on the subject’s location and preferred currency. You’ll also get the maximum discount, ensuring most of your budget goes toward securing more participants. 

Communicate survey details and incentives 

Clarity is vital to securing high participation rates when conveying details about market research activities and their associated rewards. 

SurveyMonkey says the top three things respondents want to know are the time required for participation, the number of questions, and the specifics of the incentive, including timing and amount.

Adjust rewards based on participant availability

Researchers benefit from adjusting the reward based on demographic quotas and sample sizes.

When you have trouble finding respondents, offer higher rewards. Harder-to-reach audiences are more likely to participate in exchange for larger gift card amounts. 

Conversely, for overrepresented groups, offer smaller rewards or discontinue incentives once you meet key demographic quotas. 

This strategy makes data more accurate and valuable for underrepresented groups. 

Align compensation with industry standards

Reviewing the incentive types and amounts for similar studies with ideal participation rates and similar demographics is a thoughtful place to begin. However, difficulty reaching low-population groups requires a different approach.

Estimating the average hourly rate for your target demographic and comparing it to the time commitment for participating in the study is a practical way to set gift card amounts.

This method determines a suitable incentive reflecting the value of the participant’s specialized knowledge and the time they’re spending instead of earning more doing other things. It’s particularly beneficial for those from prestigious and high-demand fields.

What is an example of using bulk gift cards in market research? 

Bulk gift cards effectively enhance participant engagement in market research. Amazon provides a prime example of this strategy in action.

Amazon frequently conducts customer satisfaction and product surveys, offering gift cards as an incentive for participation.

These surveys are concise and clearly incentivize participation, which has been instrumental in maintaining customer satisfaction.

By consistently using gift cards as an incentive, the company simplifies participation for customers and gains valuable feedback to inform service improvements. According to Statista, Amazon has maintained or improved customer satisfaction over the past 20 years.

This method effectively sustains high participation rates, helps to enhance the customer experience, and underscores the value of bulk gift cards in market research.

 

Example Market Research Email

 

Where do you buy bulk gift cards for customer surveys? 

Most market researchers buy bulk gift cards from retail stores or their websites, corporate brand offices, third-party agencies, and bulk gift card providers.

When it comes to large-volume customer surveys, buying bulk from a retailer or corporate office is time-consuming and impractical. You’re left to handle communications, dispersal, and troubleshooting issues, which significantly drain your limited resources. 

Partnering with bulk gift card providers simplifies logistics because they handle distribution, offer wholesale discounts, and offer you access to a wide variety of rewards.

What are the steps for using bulk gift cards in market research?

Effective market research reward distribution requires a systematic approach to ensure participants receive their incentives promptly and securely.

Here’s how to manage this process.

1. Select a reliable bulk gift card provider

Choose a provider with gift card choices applicable in the countries and currencies relevant to participants. The most reliable providers simplify tracking and ordering with robust online rewards platforms.

2. Integrate with your survey platform

Link your survey platform with the gift card provider’s system. Bulk gift card API integration automates gift card distribution upon survey completion, streamlining the process for participants and researchers. This strategy reduces the administrative burden on your team.

3. Set clear distribution rules

Define when and how participants receive gift cards. For example, do they receive the gift card immediately after completing the survey or after a review period? Clear rules prevent confusion and ensure participants know when to expect their incentives.

4. Secure participant information

Maintain the confidentiality and security of participant information. Ensure gift card providers comply with data protection regulations to prevent data breaches.

5. Monitor and adjust the distribution process

Track the distribution process and gather feedback from participants regarding the receipt and use of the gift cards. Use this feedback to adjust and improve the distribution strategy.

6. Provide support for redemption issues

Offer a support system for participants who encounter issues redeeming their gift cards. Quick resolution of these issues maintains trust and satisfaction among participants.

Conclusion: Bulk gift cards improve market research

Bulk gift cards are crucial tools in market research. By offering an appealing reward, they drive participant engagement and enhance data quality.

Among the other best practices covered above, ensuring the clarity of survey expectations and adjusting incentives based on demographic needs are essential for maintaining high participation rates and achieving meaningful insights. 

Researchers efficiently manage incentives and have more time to focus on unpacking the lessons from participant feedback when they choose the right bulk gift card provider and integrate gift card distribution with survey platforms.

Discover how easy adding bulk gift cards to market research can be—request your NeoCurrency demo.

Recommending articles (helpful links)

What Are Subject Incentive Programs in Market Research?

Posted on by Geoff Miller

What are Subject Incentive Programs for Market Research

Recruiting high-quality subjects for your research studies is time-consuming work. 

Offering and distributing the right incentives to drive participation is half the battle. Saving time and effort on this process allows you to focus on the data and insights you collect. 

Simple high-value offers are the key to research incentive programs. This article discusses incentive options, why you should use them, and the most effective options.

What’s the difference between market research and marketing research?

While they sound similar, market research and marketing research have distinct differences. 

Market research is the broader concept focusing on the market landscape as a whole. It includes user demographics, customer behaviors, market trends, competitors, and similar. Specialized third-party companies, institutions, or individual researchers traditionally conduct market research.

Conversely, marketing research includes activities specific to a company’s marketing efforts. It’s usually conducted or overseen by an internal marketing department. It involves insights into product usage, pricing, and promotional strategies. 

What are research subject incentive programs? 

Research subject incentive programs compensate subjects in exchange for their time in the research activity. Rewards can be monetary or non-monetary. These initiatives encourage participation and high-quality responses during the research process. 

What are the different types of subject incentive programs? 

Marketers use a variety of different types of incentives for research subject incentive programs. Researchers may offer cash, gift cards, discounts, raffles, gear, and more.

Entries to win raffle prizes are also common but less effective than guaranteed compensation. Statista reports that recurring discounts, free samples, extended product warranties, and one-time coupons only appeal to up to 36 percent of the population. 

While these types of incentives have some appeal, they don’t attract the majority of potential respondents.

Why should researchers use subject incentives for customer surveys? 

Researchers increase the likelihood of customer survey participation by providing subject incentives. Incentives combat common challenges for researchers, including small sample sizes, low response rates, and ineffective data.

Subjects expect compensation for sharing their insights through research activities. Making incentives as clear and attractive as possible is critical to success. As the saying goes, time is money. 

How much are the rewards in subject incentive programs? 

The compensation for market research activities varies widely based on the supply of qualified respondents and the participant’s time and effort.

The National Business Research Institute (NBRI) suggests incentives ranging from $10 to $50 per respondent to improve market research response rates and data quality for smaller populations and achieve a representative sample.

NBRI differentiates strategies for larger populations of potential respondents (greater than 500). It recommends smaller incentives when capturing a representative sample is easier. 

Increasing the value of rewards improves participation when there aren’t enough potential respondents, but it isn’t necessary for large samples with high participation.

What type of market research incentives are the most effective? 

Several factors increase the effectiveness of market research incentives. Cash and its equivalents (checks, prepaid debit, and gift cards) are more popular than non-monetary rewards.

Even a small financial incentive improves success. NIH reports significant improvements in the outcomes measured—a common market research trend with compensation for subjects.

We know increasing the amount moves the needle, but the delivery method is also essential. Researchers commonly mail checks, and subjects may be wary of dealing with banking transactions.

Bulk gift cards are simpler and safer to distribute than cash. They offer transfer flexibility you don’t get with checks, making this approach attractive to the widest range of participants.

What types of market research are suited for bulk gift cards? 

Bulk gift cards are an excellent option for market researchers seeking high participation from large sample sizes.

This reward is suitable for improving response rates for both qualitative and quantitative research, including online surveys, mail-back questionnaires, focus groups, and clinical trials. They’re ideal for projects with low response rates or data quality concerns.

Besides being particularly effective for market research projects involving large-volume groups, bulk gift cards are ideal for researchers who need cost-effective incentive distribution.

Furthermore, this approach accommodates participants from locations with different currency requirements. 

What are the risks of using research incentives? 

Marketers frequently debate the bias risk of research incentives. There are ethical arguments suggesting incentives skew research data.

For instance, participants may be dishonest about their eligibility or rush through the questions without giving honest and accurate responses just for compensation. The same risks exist for research without incentives.

On the other hand, the risks don’t outweigh the positive outcomes. Experienced researchers mitigate concerns of bias or oversampling with quality control measures. 

Ultimately, the argument in favor of incentives comes down to three main points: 

  1. Gift cards are commonplace and generally expected
  2. Gift cards are a fair and valid method to thank subjects for their time
  3. Gift cards are the fastest way to satisfy sample size and quality criteria

Conclusion: Bulk gift cards for subject incentive programs

Offering PayPal, Venmo, Mastercard Prepaid and Visa Prepaid are all good choices when respondents expect cash-like options. Certain verticals, like health care and doctor panels will require these incentives. Simple, high-value offers, such as cash and bulk gift cards, should enhance participation significantly and are key to successful research subject incentive programs.

Gift cards are particularly effective for large-volume groups and projects requiring high participation rates. The benefits of using incentives to attract and retain participants overwhelmingly support their use, improving both response rates and data quality.

While there are many incentive options when conducting online surveys, focus groups, and polls—bulk gift cards benefit the subjects and researchers the most.

Are you ready to boost your participation rates with digital rewards? NeoCurrency is your doorway to bulk gift cards in over 140 countries for 20 global currencies. 

Request your demo to see how NeoCurrency will simplify your research subject incentive programs. 

Recommending articles (helpful links)

Increasing Participation of a Major Global Market Research Study

Posted on by Geoff Miller

If you’re going to be one of the biggest, most expansive global market research panel platforms in the world, you’re going to have to be able to incent respondents in places where delivering payments can be a little tricky, like Latin America.

The Power of Choosing the Right Gift Card API Provider

Posted on by Geoff Miller

By Eric Thiegs, Head of Strategy & Growth, NeoCurrency

Over my 25 years in the gift card industry, I’ve had a front row seat to the evolution of the industry. One of the most impactful developments was the introduction of gift card APIs.

In fact, I had the opportunity to be involved in launching one of the first gift card APIs to service real-time eGift distribution to both end users and corporate clients for B2B use cases in the loyalty, reward, and incentive industries. The revolution was on.

That was over 10 years ago.

Gift Card APIs in the present

Since then, APIs and gift cards have continued to change in myriad ways. So have the providers and the solutions they offer. It’s a dynamic and competitive industry, and choosing the wrong partner can cost a lot more than money. After all, the whole reason to utilize gift cards is to reward, engage or incentivize in some way, an employee, customer, member, participant or prize winner. Poor execution or under-delivery can have the exact opposite effect on your business or reputation that you were looking and paying for—and possibly even lead to legal issues.

“It’s a dynamic and competitive industry,
and choosing the wrong partner can cost a lot more than money”

In order to help you choose the right digital reward provider for your needs, I’ve put a checklist together for buyers and decision-makers who are looking to find a gift card API provider and solution both domestically in the US, internationally—or both, that will work best for their needs. The list is based on my experience over the course of my career, as well as what we hear from our own clients here at NeoCurrency every day. Asking providers to share details on each of the below API attributes, features, benefits, use cases and pricing will help you select the best gift card API.

1. What reward content does their Gift Card API offer?

A gift card API is only as good as its content, and so the most important feature of the best reward APIs is the ability to offer a wide variety of brands that provide flexibility and choice. Ask your gift card provider if the following products can be supplied through their API integration.

  • Closed Loop Cards: Brands ranging from Amazon, Google Play, Apple, Starbucks, etc.
  • Open Loop Prepaid Cards: VISA, MasterCard, American Express, etc.
  • Cash-Like Rewards: PayPal, Venmo
  • Digital Currency Rewards: Bitcoin, Ether, Dogecoin, etc.
  • Choose-your-own reward option: A universal reward link that allows the end recipient to select their reward/gift card
  • What, if any, other prizes, coupon codes, or digital content can be delivered in their API?

2. What currencies and countries are supported by their API?

Some clients need content relevant in one country. Others need eGift Cards with popular brands across a multi-country regions, an entire continent, or all of the above. Beyond the brands, it’s important to be able to deliver rewards in the appropriate currencies for many reasons. Understanding a partner’s capabilities domestically and across the globe is key, especially if there’s a chance you’ll need coverage in a new region as your platform grows.

3. How easy is the integration of their Gift Card API?

Most Gift Card APIs boast a suite of powerful features from seamless ordering and robust security options to easy, free sandbox access for testing. Getting access to all of the great features; however, can be a challenge. You’ll want to ask your provider about how quickly the API can be deployed and inquire if the API documentation is developer-friendly. You’ll also want to know if it’s easy to work with the provider’s team to launch sandbox testing and move quickly into production. A tech call with your potential provider will quickly tell you how collaborative, supportive, and trustworthy the team is behind the API solution. If they don’t want you to talk to their tech representatives, it’s probably a red flag.

4. What kind of account support do they offer?

On-going account support is a key attribute that sets many Gift Card APIs apart. Whether you’re a small business or an enterprise-level corporate client, the reward API you use should grow with you. And you should have the support you need to answer questions and troubleshoot issues. Whether it’s new content, 24/7 self-serve account access, or strong customer service, you’ll want to ask your potential partner to outline, specifically, how they will support your account.

5. What are the KPIs of their Gift Card API?

Key Performance Indicators (KPIs) are the lifeblood of every good API. Ask your potential gift card provider for metrics around the up-time, load tolerance, scalability, and error rate of their API. Because let’s face it, if the API doesn’t work, it will hurt you. You’ll want to understand the platform’s reliability, downtime risk, and other performance attributes that may impact the API service.

6. What are the costs and fees associated with their API?

Not all Gift Card APIs use the same pricing structure. To get a transparent understanding of the commercial components, you’ll want to ask your provider about all fees associated with their API including the cost of the eGift or prepaid products sourced through the API, setup fees, transaction fees, delivery fees, email template fees, email delivery fees, SaaS fees, or hosting/service fees.

NeoCurrency Stacks up.

NeoCurrency delivers rewards and incentives all over the world.

Since I’m suggesting you ask all of these questions to any gift care API provider you are interested in talking with, here is a quick cheat sheet of how we would answer these questions at NeoCurrency.

1. What reward content does NeoCurrency’s Gift Card API offer?

NeoCurrency offers over 2,000 digital reward options from the biggest brands you expect, to more localized relevant brands that provide more unique offerings around the world—all through a single API integration.

2. What currencies and countries are supported by NeoCurrency’s Gift Card API?

NeoCurrency’s API content covers 140+ countries across six continents in 50 currencies. We offer a multi-currency, global API for clients who need just one country/currency or those that need access to digital rewards across the world. Among many other benefits, being able to redeem in so many currencies helps our clients save money on conversion fees they’d otherwise have to pay.

3. How easy is the integration of NeoCurrency’s Gift Card API?

The team here at NeoCurrency takes pride in our ability to quickly and easily support clients who are integrating into our gift card API. This includes:

  • A four-tier account service support structure
  • Fast access to sandbox account access with test funds
  • Same day/24-hour turn time on technical questions during integration
  • Fast production turn time

We’ve been grateful to have clients praise us on our integration support and turn-time. If APIs provide real-time access to rewards, the team supporting the integration should be as real-time as possible during the set-up, too.

4. What kind of account support does NeoCurrency offer?

Taking care of our clients is something we’ve prided ourselves on since we started the company. We focus relentlessly on providing:

  • Global multi-time zone account service support
  • 24/7 self-service access and control to your API via an account dashboard
  • Real-time, self-service reporting available 24/7
  • Full program assets available for download 24/7 (brand logos, T&Cs, card images, etc) within your dashboard
  • 4-tiered account service support structure that includes customer service, client success, executive and C-level contacts

5. What are the KPIs of their Gift Card API?

At NeoCurrency, we work hard to make sure your rewards are getting where they need to go, when you want them to get there. We are proud to consistently track in the very top of some critical industry KPIS including:

  • 99.999% uptime
  • 0.002% error rate
  • 1-2 second avg API response time

6. What are the costs and fees associated with NeoCurrency’s API?

We’re allergic to fees here at NeoCurrency which is why you’ll pay:

  • NO set-up fees
  • NO transaction fees
  • NO delivery fees
  • NO email template fees
  • NO email delivery fees
  • NO SaaS fees
  • NO hosting/service fees
  • NO minimums

Our pricing is simple. Our clients pay as they go for the reward content they order through the API. We have a global rate that can be sent for review, and pricing is accessed in the client’s API dashboard for viewing and reporting 24/7.

Summary

Today’s Gift Card APIs are very different than the ones I began implementing with clients 10 years ago. Your program deserves the best reward API provider; one that offers a comprehensive solution that not only meets but exceeds industry standards and offers you the scalability, security, content, and global reach to make your programs successful.

I hope you find this list to be helpful, and I’d be happy to answer any other questions you may have about the general gift card API marketplace or, specifically, our NeoCurrency reward API solution. All of us at NeoCurrency think we have something uniquely special here, and we’d love to share it with you in detail.