Customer loyalty is a top priority to businesses across the board. They are always striving to find creative and innovative incentive strategies that will keep customers satisfied, happy, and on board, while at the same time being of benefit to the business.
One effective strategy to enhance customer loyalty is travel incentive initiatives.
The Best Cruises and Travel Now program is taking advantage of this strategy. The program is based on the results of the Anatomy of a Successful Incentive Program 2010 study, which revealed that just over 90 percent of the participants cited: given the opportunity to receive the benefits of an incentive motivated them to increase their work effort.
Other statistics of the study found that close to 95 percent of the participants found travel incentives to be a desirable reward, and 92 percent found they benefited through the networking features of an incentive program.
Another strategy, that can be utilized to enhance workplace efficiency and productivity, is a corporate health and wellness programs.
According to news media South Source, Nikki Washington said, “Having a robust wellness program is becoming a recruiting tool as job seekers are starting to view it as another valuable benefit.” Washington, Intelispend Prepaid Solutions’ senior marketing communications manager, added that the simple, added benefit of having a healthier, more content and engaged staff is of equal importance.
Another company that initiated an employee wellness program is WIKA Instrument Corporation. Its environmental health and safety manager Cathy Bochenek told the media outlet that WIKA implemented the program three years ago. It began with health risk assessments and biometric screenings, and them enhanced by including employee incentives for participants who attain health-related objectives.
Bochenek explained, “Before we started our wellness program, our premium ratio was at 91 percent. It dropped to 82% after the first year, 74% after the second year, and 68% after the third year." Just within last year, as a direct result of the WIKA wellness incentive the company saved $300,000.
Spokesperson for Blue Cross and Blue Shield of Georgia Cheryl Monkhouse told the media outlet, “It could take up to three plus years to see cost savings and a return on investment, but the long-term value and benefits outweigh the potential start-up costs.”