GiftCard Partners Blog

Healthcare costs continue to rise, employers continue to invest in health and wellness programs, and employees have access to more benefits and resources than ever before.

After several turbulent years, many organizations are asking the same question: are my employees disengaged or just discouraged? The distinction matters because morale and engagement are related but distinct drivers of performance. New global data show that engagement has slipped, while morale remains fragile in the face of burnout, turnover and rapid change. Understanding the difference — and how recognition tools like the Engage2Reward™ Gift Card Ordering Platform can support both — is critical for leaders who want to build resilient teams.

Organizations across industries are increasingly turning to incentives to drive engagement, reinforce desired behaviors, and improve outcomes. Recent industry research from the Incentive Marketing Association provides a revealing look at how incentive programs are evolving and where the market is heading next.

It is a proven and accepted reality in business today that engaged employees increase a company's bottom line. However, new research from Gallup show that engaging B2B customers by establishing an emotional connection based on confidence, integrity, pride and passion is crucial to customer impact. Engaged customers deliver 23% more revenue than average customers in wallet-share, revenue, relationship growth, and profitability. According to the same Gallup research only 13% of B2B customers are fully engaged. Engagement exists when customers go out of their way to favor a relationship over price. This deepens a relationship, and often customers  are rewarded for their loyalty with either a discount for services rendered or other perks from the company providing the service. Treating customer engagement and employee engagement similarly will garner similar outcomes. Reward customers for any business you gain, the way you would an employee. Provide spot rewards, such as a small gift card for small business gained and for a major expansion in business or formation of an industry partnership, provide a broader reward. Creating a 360 degree customer feedback loop provides opportunities for relationship growth. Putting constant work into the companies' relationship is crucial. The time you spend ensuring that your employees are loyal should be equivalent to the time you ensure that your customers and partners are going to continue to drive your business.  
For more information on B2B customer engagement check out this Business News Daily article.