GiftCard Partners Blog

While getting a customer in your store for the first time is important, in order for your success in retail, the focus needs to be placed on repeat business. It is 6-7 times more expensive to acquire a new customer than it is to keep one. Customer loyalty programs work well, but most businesses may be getting it wrong. Here are 3 steps for measuring customer loyalty and rewards ideas.
Track Customer Purchasing Habits  In order to measure the effectiveness of a loyalty program we need to record the number of new customer vs. the number of repeat customers. This is the very basic first step, tracking who is coming in and what they have purchased. The easiest way to obtain this information is through a connected POS system. A connected POS system automatically sets up customer profiles and tracks their purchases every time they return. This helps provide retailers with an insightful analysis of their customer base. Having linked loyalty cards/spending cards also helps in tracking customer purchases.
Calculate Important Metrics Simple metrics can help a retailer know whether or not their loyalty program is impacting their customers. Some important metrics to consider:

In today’s dynamic rewards landscape, customer loyalty programs have evolved well beyond the simple accumulation of points and miles. With rapid advancements in digital engagement and changing consumer expectations, modern rewards programs are all about creating meaningful, personalized experiences that keep customers coming back. In this refreshed look at loyalty strategies, we explore how innovative tools like the Engage2Reward™ Gift Card Ordering Platform are revolutionizing customer engagement.

In today's digital era, distinguishing insiders and outsiders within an organization is increasingly complex. This evolving landscape presents opportunities for brand ambassadors, positioning companies to excel on social media platforms, message boards, and blogs. Engaging employees fosters an environment where they naturally become positive brand representatives in online public spaces, effectively engaging consumers. Here's a comprehensive look at the crucial relationship between engaged employees, brand, and engaged consumers, along with actionable strategies:

We are just about halfway through the first month of 2015 and key indicators have the economy trending in a positive direction.  Consumer spending is rising, as are employee wages.  The #1 challenge that retailers will face in 2015 is consumer engagement:
How do you get your customers to stay loyal to your brand and spend their money in your store, instead of spending it elsewhere? In the past, consumer loyalty was based on four basic motivators:
convenience,
service,
pricing, and
brand identity.  While these motivators  still exist today, they have changed in rank and are different for every individual consumer.  Social media platforms and mobile apps also play a huge role in how your consumers identify with your brand.  Knowing where, when, and how your customers interact is crucial to keeping consumers engaged.  Brands can use these tools to listen to every one of their consumers and tailor offers to their specific needs and keep them engaged with your brand. Here are a few tips to help your consumer engagement in 2015: 1.
Reward More Than Just Purchases Loyalty programs were primarily based around purchase behavior.  The trend today is to reward a consumers
action.  Is your consumer checking-in to your store or event on Facebook?  Are they reviewing products or reading content regarding your brand?  Rewarding these actions can keep consumers engaged while providing them with meaningful incentives tailored specifically for them. 2.
Identify Your Most Passionate Customers Knowing your customer is an integral key to serving them better.  Some consumers become very passionate fans of your brand. Rewarding behaviors beyond customer spend will also give you access to valuable customer data.  These consumers should be rewarded for their insight into your brand as they often become your most vocal advocates and dedicated ambassadors. 3.
Stand For Something Sometimes a company needs to focus on more than just making the best product or having the best service, consumers are also looking for an emotional connection with your brand.  A perfect example: Nike and their swoosh logo.  Many consumers buy Nike sneakers because they want to be connected to everything that the swoosh represents - it's long history and connection to the world's most popular athletes.  Emotional connections are the main drivers of engagement, advocacy, and brand loyalty.
Read more about consumer engagement for 2015 along with some great industry examples here!

LoyaltyOne recently took a deep dive into incentive programs and what exactly attracted millennials to them. Their study found that the majority, falling into a range of 18-29 years old, identified in-store experience as a top factor when it came to joining grocery-store reward programs. These in-store experiences also seem to go hand-in-hand with health and nutrition.