GiftCard Partners Blog

Organizational growth issues exist in some form at almost every company. There can often be a “chicken or the egg” mentality between two opposing factors that often lead to a scramble instead of a steady positive growth curve. Most companies blame this on external factors like funding, the market, or even a competitor move. However,
new research from Bain & Company shows that most organizational growth issues actually stem from within the organization. According to the survey of 400 executives:

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:

Employers are constantly looking to find ways to promote employee loyalty in a professional climate of job hoppers and career changers. Employers try everything from nap pods to unlimited vacation to
beer in the kitchen. But what do employees really need in order to feel dedicated to an employer? The answer, real purpose. To feel important and connected to organizational goals and to be provided with opportunities to learn and grow outweigh any perk an employer could provide. In short, invest in employees and they will invest in you.

Almost everyone accrues points and miles one way or another. Whether it’s a credit card, an airline program, specific retailers, or an app, customer engagement and rewards elevate the relationships customers form with their vendors of choice. Here are three ways points or miles can help take customer engagement and rewards farther:

Employee travel rewards are common and have been since the days of service crystals and 5- year pins. But the way they are being applied in today’s employee reward environment is changing and evolving. Here are three ways employee travel rewards are changing and can be used to maximize effectiveness.