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The Latest Incentive Industry Resources & News

Benefits of Promoting Employee Health

Wednesday, March 30, 2016

Published by: Online Rewards Health & Wellness

Businesses are continuously looking for the best and brightest employees to add to their team. Finding these employees is one thing, but retaining them and continuing a mutually beneficial relationship can be another. Work can be tiring and stressful, but business owners are looking for new ways to reward employees for good work in innovative ways. Today, companies now know a healthy employee is a better employee, and are integrating employee wellness programs into their rewards structure. A business that promotes healthier employees also has a greater chance of retaining those employees.

Customer Loyalty

More Energy At Work

Employees that are more active and adhere to healthy dietary choices tend to have more energy and motivation. This energy can help your employees be more productive and stay focused for longer periods of time, improving your bottom line. Setting up wellness plans that hold employees accountable for their health choices and reward good behavior can help boost their health and provide a more functional employee on a day to day basis.

Less Sick Days

Many studies have shown that people with poor diets, who don't exercise, or overuse alcohol are consistently sicker than those who try for a healthier diet. This increases the number of sick days that an employee is likely to use while working at your business. Promoting better health choices in a positive manner through virtual rewards programs keeps your employee healthy and helps him or her see their improved health as positive to the business.

Reduced Insurance Costs

If your business offers any type of healthcare, your employee's health affects the premium paid by not only you, but your employee. Pre-existing conditions and health checks of your staff can cause insurance companies to see your employees as high risk, increasing your premiums and taking away from your bottom line.

Happier Employees

Work as a team to complete goals that make positive life changes for your employees. Implementing programs focused on health and wellness will help your employees see that you care about their well-being and not just revenue - likely improving their happiness at work. Improved happiness results in better work and an improved workforce overall.

Customer Loyalty Is a Must for Businesses

Wednesday, March 16, 2016

Published by: Online Rewards Customer Loyalty

Business in an internet-centric environment has pushed companies to find creative ways to reach and retain customer clients. Implementing tactics that increase conversion rates for new customers is important, but retaining and growing a repeat customer base often has a higher return on investment. According to Marketing Metrics, "The probability of selling to an existing customer is 60-70%, while selling to a new customer is 5-20%." The gap in conversions shows how essential it is to reach existing customers. One great way to reach and incentivize these customers is to implement a customer loyalty program. Here are some of the great benefits of choosing a customer loyalty program strategy.

Customer Loyalty

Improves Brand Awareness

After an initial transaction with a new customer, it is important to generate a productive way to convert these customers into repeat customers. If your business offers a customer loyalty program to the person upon the first purchase, this provides the perfect funnel for your business to reach out to the customer yet again. Customer loyalty programs enable your business to attain targeting information from customers (such as email addresses). Not only can you send out more information about the loyalty program, but you can continuously send lead nurturing information to the customer. This keeps your business top of mind with new customers and encourages a visit for round two.

Increases "Sale" Conversions

Many businesses promote sales within their niche market and need to reach those who enjoy their products. These sales move and push stock out of the store, leaving room for the latest products and services to enter. Those who have entered your customer loyalty program have shown that they at least have a small interest in your products and value attaining sale information from your business. These loyalty customers are more likely to return to your business and complete another transaction during these sale periods thanks to your loyalty program.

Generates a High ROI

The bottom line is one of the biggest concerns for any business. Putting money and labor into an idea is expected to bring a ROI, or return on investment. Establishing marketing efforts to convert a mere 5-20% of new customers versus 60-70% of return/loyalty customers decreases the chances of any ROI. Conversion ROIs soar when working with return/loyalty customers compared to putting the effort in to search, target, and convert new customers using similar marketing tactics.

Customer loyalty programs can be created and generated to specifically fit your business' specific needs. No matter your niche market, a customer loyalty program can increase and support your marketing strategy and lead to company success.

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