Activcoins is the new digital currency for members of the Active Points Fitness App programme. Members collect coins as they exercise and achieve their goals. Awesome!
The number of coins collected varies depending on the members activity for example 5000 steps will earn you 5 coins while 30 minutes of activity will earn you 10 coins.
Members can also boost their coin balance each time they redeem an offer from an Activcoins partner. Currently there are over 100 Activcoin partners including major High St names and Amazon and members can collect up to 12 coins for each £1 that they spend online with an Activcoin partner.
Once collected, coins can be spent in the Active Points members store to buy shopping gift cards and vouchers at below face value for major supermarkets and high street stores. The store redemption value is 1 coin = 1p and coins have a lifespan of 12 months. Unused coins will be devalued to zero on the 1st anniversary of their issue.
The coins deliver a financial incentive for users to be active and engage with the Active Points programme and can also be used by wellness programmes to motivate inactive adults to participate in local initiatives.
Studies show that people are twice as likely to be motivated by losses than gains.
A recent study found that the possibility of losing money led people to exercise more than other incentives. It resulted in a 50% relative increase in the average amount of days participants achieved their physical activity goals.
If we apply these learnings, we can utilise Activcoins to design incentives that bring an immediate financial benefit to registered participants and frame them in a way that if the programme goals or targets are not met the incentive is reduced or removed depending on an individual’s performance. However, it is also important to set the performance and participation goals at an achievable level while also delivering support and tangible rewards based on programme participation too! Activcoins delivers both the incentive and the benefit of financial rewards to any wellness programme or activity related initiative.