GiftCard Partners Blog

GCP’s April eNews is here! What you will find:

Employee engagement is a proven way to raise employee morale, lower quit rates, and make your workforce more productive. Showing employees how their day to day work contributes to the bigger picture and helps the organization reach its goals leads to engagement. Conveying clear vision and providing a sense of importance is how managers can contribute to overall workforce engagement at an organizational level. Employees are the ultimate driver of an organization to its goals, so it is important to engage employees through training, professional development, and rewards ranging from useful gift cards to larger rewards such as vacation travel and extra time off. It is sometimes difficult to tell the difference between high employee morale and true engagement. According to Ronald Sanders, a senior executive adviser and fellow at Booz Allen Hamilton, engagement entails innovation, commitment, and employees choosing to use their discretionary energy at work. Engagement goes beyond a happy workforce to a deeper level of commitment to work and understanding of the importance of the job employees do every day. It is important to reward employees who reach this level so that they not only feel the importance of their position but so they feel supported by their organization. Reinforcing desired behaviors and attitudes is crucial to maintaining the engagement cycle into the future of the organization.
For more information on deeply engaged employees check out this Federal Computer Week article. 

The first quarter of 2012 included GCP’s visits to and participation in many meetings, conferences and events, including the PrePaid
Expo, the InComm Partner Alliance, the South Florida Success Expo (SWFL), and the Loyalty Expo. In Q1’s trend report, we captured a pulse on 2011 B2B gift card sales results, key gift card market expansion trends for 2012, and an update on the effects of New Jersey’s gift card laws to our industry.
Read the full B2B Gift Card Trend Report here.      

This  is quite possibly the most comprehensive infographic ever created around mobile payments. Our question for the prepaid industry, loyalty rewards program management companies, and gift card retailers and merchants:  Is our next loyalty program component in the area of mobile payments use? Source:
MostWanted via Prepaid Expo

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.