Torpago Recommends Gift Card Survey Incentives for Community Banks

Torpago has recommended gift card incentives as one way for community banks to gather more detailed customer feedback. In its January 2024 customer experience guidance, the business credit card technology provider gives a $20 Amazon gift card as an example of a reward for completing a longer survey.

The proposed reward is intended to encourage participation in bank-run research. Torpago argues that targeted questions can reveal what customers value and where they encounter problems across branches, digital banking and other communication channels.

Its guidance distinguishes this feedback from high-level measures such as Net Promoter Score and customer satisfaction scores. Those measures can help identify areas requiring attention, the company says, but a focused survey is needed to understand the specific changes customers want. An internal preference for a new app, for example, does not establish that customers need the existing app replaced.