Non-cash incentives have a long track record of success in motivating behavior.
Non-cash awards like merchandise, travel, and gift cards are both more motivational and cost-effective than cash. Decades of collective experience and countless employee incentive/motivation studies have substantiated this statement. The net-net is that merchandise can, and does, motivate behavior.
Achieving a desired behavior is the goal of marketers. How do we influence the target audience and persuade them to take action? If non-cash incentive modifies behavior in the world of employee compensation and productivity, it stands to reason that the same principle can be applied to promotional marketing.
Let’s take the gaming industry for instance. Casinos have a high need to achieve the following objectives:
- Create attention getting events that motivates players or prospective players to visit the property
- Extend play when players are on property
- Reward loyalty and repeat visits
Here are three examples of how non-cash incentives can be used to influence player behavior:
Leveled point redemption for merchandise can motivate players to increase play in order to obtain merchandise with a higher perceived value.
Create a custom on-site shopping spree filled with luxury items. VIP or Lucky Winners are able to “shop” in exchange for a certain level of play. Tangible items can influence acquisitive behaviors and extend time on property and play.
A grab-and-go run is an exciting way to reward your most loyal players. Fly your players to a special off-property event. Usher VIPs into a warehouse of luxury goods, where they get a chance to run and grab the items of their choice in a pre-determined amount of time. A unique combination of non-cash incentive meets reality television. The experience will leave your most valuable players with a lasting memory and tangible proof of their value.