Rewards are the incentives that make SocialLadder programs work! Attracting ambassadors to the program, keeping them engaged, and making sure that they are happy with their experience all depend upon the rewards offered in the program - their quality, achievability, and the ease of redemption. Read on to learn about the best ways to configure the rewards for your SocialLadder program!
SocialLadder’s gamified brand ambassador program system allows ambassadors the chance to earn prizes by completing challenges in order to exchange those points for rewards. The types of rewards, the point amount required to unlock them, and the fulfillment process when ambassadors redeem the rewards are all up to you!
SocialLadder point scores function as a bank, not as a running total or a tiered unlock system. This means that ambassadors can save up points as they please and spend those points on specific rewards as they choose. Ambassador point scores at any given time may not reflect their overall effort in the program; the person who has accumulated the most overall points may not have the highest current point total, depending on their reward redemptions.
Outside of deciding which rewards you’ll be offering, the biggest decision that you’ll make when creating your reward structure will be to set the point values for each reward that you are offering. Here are the two chief things to consider when deciding these values:
Consider the point scale of your program. Unless you have worked out a custom point scale with your Customer Success representative, your point scale will operate off a 10 points per dollar sold ratio. This means that when ambassadors sell a product, they will be rewarded with 10 points for every dollar that they sell. This, in turn, should give you a sense of the point scale that should be used when determining rewards. Remember: 10 points are equivalent to $1.
Try to hit a 5:1 ratio for selling a product to earn a reward of an equal value. Using the $10/1 ratio, we might imagine a reward that you’ve estimated to have a value of $50. While the reward points will ultimately be up to you, we would recommend that you set the points on this reward to 2500. Each sale of that $50 product would earn the ambassador 500 points, and 5 sales would net 2500 points. It’s important to note that those points can be earned through any combination of selling products (selling one $250 product or twenty-five $10 products, for example) and completing social media challenges.
Determining Your Program Rewards
A big part of your program’s success comes in determining your program rewards. Put some time into figuring out the rewards you can offer as early as possible to make sure your program starts out on the right track as far as team growth is concerned.
Here are some useful things to keep in mind when determining what rewards you want to offer:
The biggest draws are exclusive experiences. It’s nice to help your wallet out by redeeming a reward that you would have otherwise paid for, but the best way to draw in your fans that will become your most devoted ambassadors is by offering exclusive experiences that money can’t buy. This could be a backstage pass to an event, a small spotlight feature on your blog or a shoutout on social media. Set the point value high and the availability low to reward only the most engaged ambassadors, but make sure you advertise these rewards to your fans in order to grow your program!
Provide variety and achievability in your overall reward structure. While the showstopper exclusive experiences may be what attract your fans to your program, having a variety of rewards available at various point values can help to keep some of the lower-scoring ambassadors engaged. Not everybody can be a rockstar seller or complete every single social media challenge offered, users may feel confident in sticking with the program if they can earn a lower-tier reward.
Do the math up front so you can be comfortable in expanding your program. The most important aspect of reward structuring beyond deciding on the rewards to be offered is setting the point values for those rewards. To be confident in expanding your program, you’ll want to make sure that you are comfortable with the cost-benefit relationships for all of your rewards. It’s up to you to navigate the tightrope of making reward costs high enough to make sense for your budget and low enough to be attractive to your ambassadors. Once that’s set, however, you’ll be good to go with expanding your program as much as you please!