How to manage a rewards program
You know this: you can boost retention of both staff and customers with a rewards program.
How you reward your staff and your customers can be a reflection on who you are as a company. A well-organised, creative, and well-managed rewards program can be an asset to your brand.
So, in turn, a disorganised and inconsistent rewards scheme can be a brand liability.
We manage hundreds, if not thousands of rewards programs each year — our role is to help you navigate the challenges that come with them. But it is your rewards program. Understanding how an eftpos or Visa gift card rewards program can help you overcome the challenges will help you decide if this is the right solution for you.
So, in this article, we work through the challenges you’re no doubt facing and how our cards work harder to make your life easy.
Challenge 1: What reward? And for which achievement?
This is often the first challenge that faces you when deciding upon a rewards program. But what do we reward them with? For staff, typical rewards and incentives include gym memberships, movie tickets, certificates, handwritten notes, bottles of champagne, bunches of flowers.
Now, these aren’t bad ideas! But they carry a few key complications.
The first? A bottle of champagne or a bouquet, or even a gym membership doesn’t have universal appeal.
And a certificate or even a trophy isn’t sufficient motivation for most people to work hard or enter a competition. Us humans can be a little materialistic.
More complications: scalability and proportionality.
Sending out two-thousand bottles of champagne might not be that difficult. But reward two thousand different levels of achievement with bottles of champagne is.
For instance, if Sales Representative A managed to sell x number of product and Sales Representative B sold 2.6x number of product, how can your proportionally reward or even incentivise that?
This is where eftpos gift cards shine. When using cash to incentivise, every last cent of achievement can be proportionally rewarded.
Better yet, we can, based on an approved calculation, take your recipients’ achievements and convert them into cash rewards. Or take your customers’ spend values and give them the relevant cashback value (again, based on an approved calculation). We can even help convert those rewards into packages that contain both eftpos gift cards and other rewards. For example, if you still wanted to send out that bottle of champagne…
Challenge 2. Distribution
Sometimes big ideas require… big resources. And that’s why they tend to get dismissed. You should (and can) have the power to run rewards programs that take creative ideas and bring them to life.
Delays in shipping and inaccurate fulfilment of rewards can damage or even reverse the intended purpose of the campaign. You establish a rewards or incentive program to build on that positive customer or staff experience, not to receive hundreds of complaints. So you need to ensure that execution is near flawless.
Working with Rewards Come True means that you do not have to handle any of the associated admin that comes with distribution.
We take care of everything: the secure loading of funds onto the cards, the printing of accompanying card wallets or letters, and all the postage.
This isn’t limited to purely card-based campaigns, either. We love working with people with big ideas — and by that we mean big ideas for big rewards packages.
Just because it would be complicated for you to run internally, it doesn’t mean you should abandon ship before you have to deal with shipping. We can use our exclusive Australian spend data to find the best places to send or show off your creative ideas. Not only does that support success rates, but it encourages creativity and improved morale in your team. Everyone wants to see their ideas in action!
Challenge 3. Customer Enquiries
If you’re running a loyalty program for your customers, you need to dedicate resources not just to its setup, but to its execution. Having a dedicated resource for dealing with customer enquiries is beyond the scope of most campaigns, which is part of the reason it’s hard to get your campaigns off the drawing board and out into the world.
We run a whole team of people who are specifically trained to deal with these enquiries. Expecting your staff to be able to deal with all the enquiries that come alongside your campaign is not only unfair; it’s unrealistic. While your campaign might get a great response, your productivity and ability to deal with these enquiries will not be able to keep up.
Because we’re all about bringing great ideas to life, we want to drop the barriers for you. That’s why we take care of the customer service. We are even happy to brand our customer service as yours. Yes, that means that if someone calls asking about activating their card… They think they are speaking to you. And effectively, they are! We become an extension of your team — filling the gaps so that you can get the most out of yours (and your campaign).