In our recent post, Gift Cards are the Go-To Gift for Summer, we talked about the popularity gift cards were gaining in the gift market throughout the spring and into summer. According to a recent survey from the Retail Gift Card Association, 70% of shoppers planned to buy a gift card for occasions like Father's Day, weddings, graduations, and birthdays.
Merchants are constantly trying to figure out how to build customer loyalty. In an age of digital price comparison where Amazon and Walmart usually win the day, businesses are constantly trying to devise lasting strategies to ensure that they develop real customer loyalty and keep consumers coming back again and again. Few merchants realize customer loyalty often begins with employee satisfaction. When employees are satisfied at work and have a good relationship with their managers, they create the best experience possible for consumers, which in turn keeps consumers coming back.
Employee wellness initiatives have taken many forms over the last 5-10 years. They have ranged from biometric screenings to company exercise groups to discounts on health insurance. Each company does it differently, depending on what is most effective for their specific organization. But according to this Washington Post article, employee wellness is taking a new turn and it's compelling for both employers and employees. Employee wellness is becoming part of company culture. With a growing millennial component to the American workforce, employers are focusing on enticing younger employees with perks and attractive cultural components in the work environment. Wellness programs are shifting to be a component of these types of company culture and positioning efforts. So what does it mean for employers? How can they measure ROI when they take tangible metrics and transition them into the "intangible benefits" so important to difficult-to-please millennial? Here are a few ways:
Small business incentive programs are growing rapidly. According to a recent article from Incentive Magazine, research conducted by the Incentive Federation revealed that a substantial amount of small businesses are now using rewards and recognition programs. The study asked businesses with at least $1 million in annual revenue about their goals, programs, awards they use, and how they measure whether or not their incentives are successful. Most of the smaller firms that responded to the survey spend less than $50K annually on sales incentive programs, whereas firms with revenue of over $10 million spend significantly more annually on their incentive programs. When it comes to the type of reward, electronics came in as the most requested merchandise reward, followed by food and beverage and apparel. Other popular choices were sporting goods, luggage, watches, and home decor.
Papa John’s is constantly asking their customers “how can we do better?” and their focus on constantly pursuing customer engagement is paying off. After last month’s wildly successful release of Papa John’s Garlic Knots, the company just announced that it would begin offering a sweet spin on a new fan favorite this summer.
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