Helping Your Loyalty Rewards Participants Through Tough Times
The growing demand for receiving gift cards doesn’t stop at holiday wish lists and workplace incentives. The simplicity of gift self-selection and using gift cards to stock the household with needed items, are highly redeeming factors for giving or offering gift cards in today’s difficult economy. Loyalty rewards programs are looking at this demand seriously and we’re starting to see gift cards infusing points redemption programs for credit card rewards, airline miles and consumer loyalty programs. The reason for this is simple;
gift cards offer flexibility and help people pay for everyday items….why wouldn’t loyalty rewards programs offer them to engage customers? For the same reasons, cash back programs are on the most wanted list for rewards program participants. But people are also redeeming in droves for gift cards, above more traditional rewards like travel and merchandise. Each rewards points system offers varying redemption options, but offering gift cards should be considered a priority in a world where consumers demand choice and often thriftiness.
NerdWallet takes a look at American Express’s rewards program and rates gift cards as the top popular choice, above travel rewards and all other options (listing many as “Bad Redemption Options”). Of course, this isn’t the only perspective for why you should offer gift cards as a redemption option in your program…but as the 22nd most valuable brand in the world, American Express’s rewards program is also one of the most successful rewards programs in the world. What’s in YOUR rewards program?
Socializing Rewards Points
The Citi Thank You Program is revolutionizing the use of rewards points. Imagine being able to share points with your friends to save up for a get-away weekend, or save up points with one friend for another friends' birthday present. Many people pool points for gift cards from retailers who partner with Citi to make their gift cards available through the Citi ThankYou program such as CVS/Pharmacy and Charming Shoppes stores. This allows consumers to use points for gift cards for themselves, or to use as gifts, giving the recipient of the gift a chance to choose their own gift. You could even pool points with friends and family to make a group contribution to a good cause. Well, now you can. The new Citi ThankYou Point Sharing App on Facebook allows groups of friends to pool points in order to redeem the value of the points for a bigger reward. This app is the beginning of a revolution in monetizing social media. This app is allowing users to move assets and share funds through Facebook, a social media platform. This app will soon promote itself, benefiting not just the Citi ThankYou Program, but its users and potential users as well. The more people use the Point Sharing App, the more people will post on Facebook about it, making the App and its use go viral across the platform. A rewards program that rewards itself, an incentive social media innovation.
For more information on the Citi ThankYou Points Sharing App check out the pymnts.com article.
Preparing for Your Small Business' 2013 Health and Wellness Program
As we head into 2013 and employees commit to the New Year's Resolutions to quit smoking, lose weight, or generally live healthier lives it is the perfect time for your small business to implement a health and wellness program. Here are a few tips on starting the year off right for your business and your employees.
Lead the Way Lead by example. If employees observe you living a healthier life style they will take note, and be more motivated to follow suit. If you live a healthier life, and offer a health and wellness program it gathers integrity for the program because employees see the business owner participating.
Designate a Leader Appoint a leader to charge ahead with implementation of the program. Provide a framework, and a budget to work with, and really let someone in your organization make this program their own. This will also plant roots for the program within the organizational community. A peer leader is bound to give strength to a health and wellness program.
Make it Relevant Know your audience. Use motivators and carrot rewards, like gift cards, that will hold intrinsic value with your employees. Having a variety of rewards for goals achieved, whether it is a goal weight reached or another health goal, is important. Providing gift cards to a variety of healthy living retailers such as
CVS/Pharmacy,
NutriSystem, or
GNC is a great way to support employees on their way to healthier living.
Involve Your Insurance Company Many health insurance plans now offer a wellness program or reduced rate on wellness options such as massage, yoga classes, gym memberships and more. Inquiring with your insurance provider about what might be available to your employees could build in more incentive for employees to participate in a health and wellness program.
For more information on Health and Wellness program ideas for 2013 check out this article from SmallBizTrends.com.
Keeping Loyalty Alive: Loyalty Program Ideas for the New Year
Loyalty Programs are an important facet of the incentive industry for B2B gift cards or buying gift cards in bulk. Gift cards have been touted as one of the most coveted gifts in universe (well, pretty much). Are you offering gift cards for reward points as a way to keep your loyalty program alive with customers? In a recent article “5 Ways to Keep Loyalty Points from Expiring”, it’s noted that the massive quantities of rewards points that consumers hold “has created a headache for the companies that offer them”. BUT – aren’t these “loads of points” also an opportunity for loyalty programs to try to engage customers 1 last time? Will offering highly coveted gift cards for points get these folks back in the game? Surely the engaged customer is more valuable than the dormant one. This article highlights great ways for consumers to keep their points in play, but these tactics should also be looked at as strategies, by the programs themselves, to promote the ongoing use of their program. Consumer or program provider…
take a look at these loyalty program strategies for the new year. Source:
The Toronto Star:
5 Ways to Keep Loyalty Points from Expiring
Minimizing Holiday DUI's with Gift Cards
The Ventura, CA community is taking innovative steps to minimize drunk driving this holiday season. A group of Ventura County bars and restaurants is taking part in a safety rewards program funded by a local government grant. The participating businesses are giving away small spot rewards, such as gas cards to dedicated designated drivers throughout the holiday season. Larger items are also raffled off during special drawing nights. The program rewards good drivers, but has also garnered the support of the community by making the roads safer and putting citizens at ease during the holidays, knowing that drivers are being incented to stay safe. Does your community use these types of rewards for good behavior? Should we need to use spot safety rewards to keep citizens within the rules of the law? Let us know what you think, and leave a comment!
To read more about the Ventura County DUI Safety Rewards Program click here.