Brands who offer customer incentives can cut cost of acquisition and retention in the year ahead

UK consumers say that incentives will be key to securing their loyalty and custom through the cost-of-living crisis, according to new research from Edenred.
The study, which asked 2,000 consumers about how they were changing their spending behaviour in the face of the cost-of-living crisis, found incentives were more important than a range of factors including reputation or customer service in attracting customer spend and second only to price.
With the majority of consumers (54%) having already made changes to their lifestyle to cope with the cost-of-living crisis, only 15% of consumers say their household budget can accommodate further prices increases and 42% say they would need to borrow more to deal with the cost-of-living crisis.
Against this backdrop, consumers are adopting a range of value-seeking behaviours as they shop, with one-in-four consumers (26%) looking for cashback or incentives when shopping and just under a third (29%) said they were using money-off vouchers or coupons to make their household budget go further. Around a third (32%) are shopping around for the best prices.
Close to four-in-ten consumers (38%) say they are more likely to recommend a brand that offers incentives while a quarter (25%) say they will be more loyal to an existing brand. Incentives will also encourage people to switch (35%) or trial a new brand (30%).
The most attractive incentives that brands can offer are rewards for loyalty (37%) followed by cashback (35%) or vouchers (31%). A significant majority also value the opportunity to share rewards with friends and family (29%) or with a good cause (23%).
Andy Philpott, Marketing Director at Edenred said:
“While these are tough times to compete for a share of consumer spending, our research shows that brands can attract and retain value-seeking customers and avoid a race to the bottom on price by using incentives.
Whether it is by reducing customer churn, rewarding loyalty or winning new customers through refer-a-friend schemes, incentives offer every brand the opportunity to minimise the impact of the cost-of-living crisis without having to resort to price competition.
By offering customers the opportunity to give to causes they believe in or simply the ability to share reward with friends and family, brands can also build preference and differentiation through the choice of incentives on offer.
As the battle for customers intensifies, it will be the sales and marketing teams who can best deploy incentives who are likely to attract and retain customers through the cost-of-living crisis.”
To download the full report, “The battle for new customers in the cost-of-living crisis”, please visit the Edenred website HERE

The post Incentives Second Only To Price In Attracting Value-seeking Consumers In The Cost-of-living Crisis appeared first on IPM Bitesize.

Almost half of employees don’t expect to receive a Christmas gift from their employer, according to research from Blackhawk Network

• 88% of employees would like to receive a gift from their employer this year, but almost half (46%) believe this is unlikely
• Half of employees would feel disappointed, demotivated, upset or angry if they didn’t receive a gift from  their employer this festive season
• When it comes to gifting this Christmas, almost 2 in 5 (28%) employees would prefer to receive a gift card from their employer

With the festive season upon us, 88% of employees state they would like to receive a gift from their employer as we finish up for the holidays. And, after another tough year defined by the pandemic, employees no longer see gifting as just a ‘nice to have’. In fact, 45% of employees state that it is important for employers to provide gifts and rewards this festive period. These findings come from research conducted by Blackhawk Network looking at seasonal gifting trends.

Almost two fifths (39%) of employees view gifts as recognition for their hard work and the same amount say that Christmas rewards make them feel valued by their employer. Another 32% state that gifts show that employers care and 22% say that seasonal gifts help to keep them motivated. However, staff do not trust that employers understand the need to show their appreciation. Almost half (46%) of employees believe it’s unlikely that they will receive a gift from their employer this Christmas.

Chris Ronald, VP, EMEA Incentives, Blackhawk Network, said: “The Great Resignation combined with economic bounce-back, has resulted in staff shortages at an all-time high.  Adding to this, the competition for talent is driving up salary expectations. This year’s festive challenge is for employers to gift smart. Providing rewards as a ‘thank you’ plays an important role in ensuring that staff feel appreciated. Even small gestures can go a long way in building loyalty and bringing some festive cheer to hard working teams.

The UK is in the midst of a supply chain crisis which is threatening to derail the festive season. Physical gifts, drinks and even rumours that the Christmas turkey may well be in short supply. However, the good news for employers is that gift cards are the preferred choice for almost two-fifths of employees. Delivering these early could help staff get ahead of the rush on family gifts and festive groceries, providing a genuinely useful reward that will leave staff feeling valued and appreciated.”

The business impact of failing to gift or reward

By failing to gift this Christmas, employers risk more than just disgruntled employees; staff morale and satisfaction will be impacted. In fact, half of employees would feel disappointed, demotivated, upset or angry if they didn’t receive a gift or reward from their employer this December.

This is a particular issue for younger generations; 77% of Gen Z and 82% of Millennials would have negative feelings about not receiving a seasonal gift. This is a dangerous state of affairs given that staff turnover is at an all time high amidst the Great Resignation. Gifting should be front of mind as gratitude and appreciation are critical to retaining staff and creating a positive workplace culture.

Gift Smart with rewards that resonate

The traditional Secret Santa is a mainstay of UK office culture but often falls flat. 42% of employees have negative feelings about Secret Santa, with many thinking it’s a waste of money and a waste of time. While Secret Santa can be a fun team building initiative, employers need to gift smart with rewards that are useful and meaningful to employees.

Providing physical gifts could be challenging this year in the midst of a supply chain crisis, shipping delays, a fuel crisis, and shortages of HGV drivers. Blackhawk Network’s recently global holiday gifting research found that consumers are worried about shipping delays and out-of-stocks. A third (34%) of UK consumers surveyed worry that the pandemic will impact their ability to shop and over a quarter (28%) say they will shop earlier this year due to concerns. Employers would do well to turn their attention to gift cards, which are the preferred gift choice for almost  2 in 5 (28%) employees. When it comes to gift cards, the following are most in-demand from staff:

• Multi retailer cards – 25%
• Restaurant or takeaway – 21%
• A food retailer to help with the Christmas dinner shop – 18%
• Entertainment experiences – 15%

However, the best gift is that of choice, with a fifth of employees preferring a gift card that would give them flexibility over all of the above.

The post The Season of Scrooge? appeared first on IPM Bitesize.

Travel can help engage consumers by putting unusual and unexpected incentives at the heart of marketing campaigns, says Amy Nield, Head of Prize at Sodexo

The world’s a crowded place, isn’t it?

Think about it. What was your last trip really like? What really stood out for you? It may have been the giant cruise ship that suddenly sailed into town, emptying its hold of minions armed with selfie sticks, cluttering up cafés and restaurants in their wake.

It may have been the daily fight for a sunbed by the pool.

Or it may have been a seemingly endless traffic jam to nowhere. Too much? Well, it seems UK holidaymakers are putting busy touristy destinations behind them and looking closer to home for more bespoke travel experiences. And they’ve got one thing in common: they want a great experience.

We’ve just published a report –  our ‘2018 Sodexo UK Exploring Travel’ e-book – which reveals that promotional marketing expectations are at an all-time high and the competition for consumer attention is fiercer than ever before. It’s up to marketers to deliver on these expectations to create maximum stand out.

If you put experiences at the heart of your campaign, you can engage consumers and truly take your brand places.

In fact, ‘experience’ is driving customer engagement in brand marketing like never before. For this reason, travel promotions can give marketers the edge they need to help their offering stand out in an increasingly noisy and saturated world. But they need to be unique and they need to be immersive.

So how can you beat the crowds and take your consumers on a brand journey they’re unlikely to forget in a hurry?

Unexpected experiences a marketing necessity

According to the British Tourism and Travel Show, not only do “33% of consumers put ‘exploring new places’ as their main motivator for travelling,” but “93% of Destination Marketing Officers consider experiences ‘important’ or ‘vital’ to consumer decisions.”

It’s not enough for UK travellers to want to go to see a new city. They want to book an experience to shout about while they’re there, too.

For marketers who wish to influence behaviour change, it means looking beyond the obvious. If you’re thinking about a standard giveaway that on paper seems reasonable enough, you need to look again.

It’s about doing something different, creating a promotion that reaches the right audience, at the right time, and stopping consumers in their tracks.

If you’re beginning to perspire with anticipation, please don’t fret.

An ‘unexpected’ travel prize incentive doesn’t have to break the bank. Long gone are the days when only a beautiful Caribbean beach would cut the billboard. Today’s holidaymakers are a more varied bunch.

Now it’s all about what you do, not where you do it.

The West Country – but not as you know it

Perhaps it’s down to the fact that many of us have long been accustomed to making the most of cheap no-frills air carriers, but domestic tourism is facing somewhat of a renaissance. ABTA is even reporting that UK demand is set to grow even more this year.

In fact, as Sodexo’s research reveals, “84% of people are considering, planning or have already taken a UK overnight break outside of their home county in 2018.”

Smart marketers can use this thinking to create an affordable and impactful promotional campaign that taps into our love of experiences and a desire to stay closer to home. So, where to next? Now that’s a question.

Our research reveals that while “London may be the number one UK destination for International visitors… it’s the South West of England that ranks highest for domestic tourists (Barclays).” Ah, we can almost smell the pasties.

The off-season is now the on-season, promising quieter towns, villages and roads, along with a less stressful experience for those seeking to get away from it all.

So-called summer destinations such as St Ives boasts indoor cultural treats such as The Tate St Ives; Penzance offers the all year round wild cookery school ‘Fat Hen’ and vibrant arts city Falmouth offers fantastic festivals every month of the year.

UK consumers may love the West Country, but if you can tie your travel prize incentives into latest trends coming from that part of the world, you’ll turn heads more than, say, offering a singular surfing trip in Newquay might do.

And on that note, is now a good time to mention targeting? Think about who you want to impress and you’ll find there’s a whole world of possibilities available.

All about the bragging rights

Whatever it is, it seems consumers are looking for something a bit different. They’re looking at new destinations, perhaps to beat the crowds and find their own way when it comes to holiday planning.

There’s big head-turning kudos for brands who actively engage consumers by helping them to boost those all-important bragging rights.

If you can create the feeling that your promotion is something new, something unheard of, you’ll do well to create maximum stand out.

Our report says ABTA nods to several major cultural anniversaries and events which are set to help cement the UK as the most popular destination [for Brits] overall for holidays in 2018:

• Bristol hosts the 40th anniversary of its world-famous Balloon Fiesta.
• Liverpool will mark 10 years since its successful bid to become European Capital of Culture.
• Several cities including Manchester, Oxford, London and Leeds have gallery take overs and other cultural events to mark the centenary of the Women’s Vote.

By building travel incentives in around events such as these, brands can find ways to tie their marketing ideas in via timely, eye-catching creative and thoughtful messaging.

Five go mad off the beaten track

Here are five more off-the-beaten-track UK travel ideas for weird, wacky and wonderful weekend breaks that may whet even the most seasoned traveller’s appetite and won’t burn the promotional budget – but don’t try them all at once, kids:

• Cheese Rolling in Gloucestershire

Who wouldn’t want to chase a rolling cheese wheel down a hill for a laugh? Well, maybe not all of us, but adrenaline junkies will love it. And for spectators, the event is guaranteed to be a memorable one. Just imagine the cheesy craic in the local taverns and inns afterwards.

• Oyster Festival in Whitstable

A foodie break to the seaside town of Whitstable is a mouth-watering delight. Throw in a quirky overnight stay in alternative accommodation such as the Fisherman’s Huts, and you’ve got a veritable feast for the senses.

http://www.kentonline.co.uk/whitstable/news/oyster-festival-dates-revealed-157394/

• The Highland Games, Braemar

If you can’t wait for Tokyo 2020, how about the UK’s answer to the Olympics instead? The Highland Games take place every summer – think kilts, cabers and ceilidhs. Add in a trip to a whisky distillery or see where all the action from James Bond’s Skyfall took place.

• The Night Carnival, Glastonbury

Somerset plays host to a wonderful and wacky night carnival every November. Like something out of a picture book, this type of event will seriously capture your audience’s imaginations. Attract customers with a night at nearby hot spot, Babington House, or a hotel and spa in beautiful Bath.

• The Green Man Festival, Brecon

Nothing says fun like a fabulous festival, but with so many out there, it’s important you align your brand with a high-quality, absorbing experience. The Green Man is Times’ columnist Caitlin Moran’s festival of choice and one that boasts something for everyone. Dial up the experience with a bell tent and hot tub and you’ll have instant promotional success.

The best incentive for social media marketing

We could go on. We won’t. The point is, if you take your brand promotion to the lesser known parts of well-loved locations, you’ll not only surprise and inspire your audience, but you’ll start some fantastic conversations – which hopefully will be shared on social media.

Travel incentives, such as an unusual, fun-filled weekend away, are perfect for social media, and your bespoke travel prize draw could be the perfect complement to fast-moving promotional platforms such as Instagram and Pinterest.

Ultimately, wherever you decide to take your consumer campaigns, the ‘experience economy’ is where it’s at. Take it out of the mundane and into the wild, unexpected, authentic and unusual, and you’ll entice customers by the bucket and spadeful.

After all, it’s the road less travelled that’s leading to travel promotion gold. Keep that front of mind and you’ll soon be creating customer engagement that’s well and truly worth the ride.

Amy Nield, Head of Prize at Sodexo. Part of Sodexo Employee and Consumer Engagement, Sodexo’s Neon solutions drive consumers to your brand – and keep them coming back. As consumer engagement specialists, we know how to influence behaviour. From building brand awareness to driving consumer loyalty, our unique mix of expertise means we can transform the way people interact with your brand.

The ‘2018 Sodexo UK Exploring Travel’ report can be downloaded for free from the Sodexo site.

The post Why the road less travelled is best for your next travel incentive appeared first on IPM Bitesize.

TLC Marketing has named Emma Lloyd (nee Critchley) as its first board level marketer, with the brief of strengthening its new business and communication offerings.

Emma, who was part of the IPM 30 Under 30 programme in 2017, has been at TLC Marketing for three years. She previously worked client side in marketing in the automotive and employee engagement industries.

Heading the PR and marketing for TLC in the UK, Ireland and Nordic regions, her board position has been created to lead the end-to-end communication for the agency, ensuring the output and assets of each department are optimised for new business development and agency reputation. She will be responsible for driving the strength of the UK and Irish brand while simultaneously establishing TLC in the Nordics.

Michelle Stacey, Agency Director, says: “As TLC Marketing continue to grow and expand into new markets, it is vital that we have Emma’s enthusiasm and skill set on our Board.”

Emma Lloyd comments: “For the last three years I have been responsible for growing the marketing division, but this role will now require me to contribute to, and make decisions on behalf of, every department. I’m most looking forward to seeing how exposure to the entire business will influence my strategy and decision making going forward.”

John Pearson, General Manager UK, Ireland and Nordics, adds: “At TLC Marketing, we are always looking to attract the very best talent in the industry. People who can propel our ambitious business plans into light. Sometimes, as in the case of Emma, we do that by recognising and encouraging the growth of talent we already have in the agency. Emma is a welcome addition to the UK Board. Her extensive digital client side experience coupled with her achievements to date at TLC Marketing will enhance our already strong team. She will become the seventh member of the UK Board working alongside Claire Watkin, Operations Director; Martin Covill, Director of Business; Rob Scott, Group Creative Director; Michelle Stacey, Agency Director; Aneeka Gohil, Finance Manager; and myself.”

TLC Marketing Worldwide is a global leader in loyalty, incentive and reward campaigns. TLC Marketing UK is a multi-award winning agency and was chosen as the IPM Awards Agency of the Year 2017. It also won The Queen’s Award for Enterprise in International Trade in 2016. In the past two years, clients have included Continental Tyres, Bupa, Pallas Foods, Braun, Eon, HSBC, First Direct and Yakult.

The post TLC Marketing appoints Emma Lloyd to UK board to boost comms strategy appeared first on IPM Bitesize.

Alex Agertoft, Sales & Marketing Executive at Black Tomato Agency details five ways to ensure great team performance.

It’s a challenge that faces every organisation – how do you motivate your staff and keep them striving to smash ambitious company targets?

At Black Tomato Agency we spend our days crafting experiences to motivate and inspire global audiences in far-flung parts of the world. And while there’s no denying the power an incentive can have when it comes to team performance, we know that’s only one part of the puzzle. It’s accepted that a motivated employee is a productive one, but in this age of information overload, as expert opinions flood every blog, magazine and white paper, sometimes it’s difficult to know which advice to listen to. So let us help, with a distilled run-down of five effective ways to engage and motivate your staff.

1. Managerial Recognition
Manager behaviour is often the make or break of a business’ success. As the saying goes, employees join companies, but leave managers and the stats support the bumper sticker. A Gallup poll of over one million US workers confirmed that 75% of those who left their jobs voluntarily did so because of their immediate manager. While a survey by Tjinsite found that more than 35% of employees consider lack of managerial recognition at work as the single biggest hindrance to their productivity.

Everyone responds well to a pat on the back for a job well done. It confirms that their work is valued and that they’re contributing to company goals. Whether it takes the form of a simple thank you email from a manager, a public toast at after-work drinks or an elaborate double-page ad in the FT, the effect is the same; tap into that fundamental human need for appreciation and you’ll see a positive response.

 2. Peer Recognition
Peer recognition is another vital building block in fostering a positive company culture. It generates a sense of loyalty amongst a team, improves motivation and creates a sense of working towards a shared goal. Encouraging a team to look up from their desks and appreciate the successes of those around them can mean just as much, if not more, than recognition from management themselves.

The golden rule for recognition is the earlier it happens after an event, the better it is. It’s no good thanking someone a month after the fact, so if you can successfully weave a culture of peer recognition into the fabric of your company, you’re in the best possible position to provide instant feedback. This will, in turn, encourage behaviours that you value and help align your business goals with employees’ performance goals.

 3. Rewards
Over the course of 10 years, Sirota Consulting surveyed 2.5 million employees in 237 private, public and non-profit organisations in 89 countries to reveal that only 51% of workers were satisfied with the recognition they received for a job well done… so how do you up the ante? In reality, the impact of the recognition model can only go so far, a Market Tools Inc report revealed that 77% of employees said they would be more motivated if their hard work was rewarded rather than simply recognised – people are looking for a return on their extra effort.

What this reward looks like is the big question in itself – the key is finding out what makes an employee tick. Historically, people have been motivated by money so it stands to reason that if you offer someone a financial results-based reward then they’ll work harder to achieve those objectives. Research by TED favourite Dan Ariely and his collaborators clearly demonstrates that financial rewards increase productivity. Interestingly, however, once the reward cycle had run its course, productivity actually dropped below pre-reward levels. Not exactly the long-lasting legacy – or return on investment – we’re all looking for.

So how do we avoid the competition ‘hangover’? We lose the cash. Studies show that employees respond best to well-designed reward programmes that distribute non-monetary rewards. This might seem counter-intuitive since cash is the most flexible prize, but people tend to recognise that they’re likely to spend the money on something either mundane or instantly forgettable. So, whilst it’s unlikely that anyone’s ever going to hand back that cheque from Sandra in accounts, the self-motivation and superior levels of performance you’re looking for could be a plane ticket away.

The real value of an experiential reward comes from the opportunity for winners to make emotional connections, create lasting memories and reinforce positive associations with the organisation behind it. According to a 2013 survey by SITE, 96% of employees are motivated by the prospect of a travel incentive, and of those who earn that sought-after seat on the plane, 72% feel an increased sense of loyalty as a result. These are impressive figures even before taking into account the effect on productivity.

A study by the International Society for Performance Improvement found that incentive travel programmes increased individual performance by up to 22% and of a team by 44%. Similarly, the Incentive Marketing Association’s Recognition Council notes that companies that recognise their employees in this way outperform competitors by 30-40%. We may be biased, but you really can’t argue with the stats.

4. Employee Wellness
We know that companies can benefit from increased productivity by focusing on the physical, mental and social well-being of their workforce – and that poor mental and physical health costs British companies an estimated £26-40 billion per year. That’s the equivalent of more than £1,000 per employee, a figure that doubles when we take presenteeism into account – a term used for people who are physically at work but not actually engaging with it. So how do we turn wellness into a motivator? Just make it a priority.

Employees are increasingly looking for companies that prioritise that all-important work-life balance; that’s why the likes of Asana’s nap rooms and unlimited paid time off, as well as Google’s onsite chiropractors and guitar lessons regularly see them attract the top talent (and keep them there). Look at wellness initiatives as an opportunity to take care of your bottom line as well as your employees’ health and happiness and it’s a win-win all-round.

5. Clear Roles & Progression Plans
Companies with a highly engaged and motivated workforce have 37% fewer sick days, 30% higher productivity, and up to two-and-a-half times better customer satisfaction than the average business. So what’s one final tool that is well within your managerial powers to influence? Clearly defined job roles and plans for future progression. Quite simply, talented people want to progress.

If your employees don’t have a clear idea of how they need to work or what they’re working towards, they’re unlikely to ever get there. Implementing both short and long-term development plans is one of the best ways to demonstrate your commitment to your staff. Through honest, two-way communication you can highlight achievements, pinpoint development areas, improve team effectiveness and boost retention – all ingredients that fuel an employee’s fire to succeed.

So be a fire starter. It’ll make the boat go faster.

Black Tomato Agency are specialists in delivering world-class prize promotions and reward campaigns. They create, manage and fulfil boundary-pushing prize experiences for the world’s most demanding brands. With an in-house team of travel experts, videographers and event planners, they work with the biggest brands and agencies to deliver ‘wow factor’ solutions, ranging from once in a lifetime experiences to unique and engaging prizes to brand experiences for multiple guests.

The post Five effective ways to motivate your staff appeared first on IPM Bitesize.

Valassis, the UK’s largest coupon and voucher services provider, has launched Cashback & Rewards, a new multi-channel promotional solution that facilitates direct payment between the brand and the promotion’s beneficiary, removing reliance on third parties to fulfil the promotion.

Valassis says cashback has significant and broad-reaching promotional applications – research has found that nearly 20% of shoppers made a purchase or spent more than planned because of a cashback offer. Cashback & Rewards can be implemented for any number of target audiences – shoppers, merchants or even staff, as an employee benefit – the company adds.

The Cashback & Rewards mechanic has been designed to be simple for the shopper, the company says. Once they have bought a product, the shopper inputs their details online along with a picture of the receipt and is then sent a cashback or reward payment.  Payment can be delivered via a number of methods – cash, PayPal, cheque or coupon. Rewards can also be product samples or entry into a prize draw.  This direct fulfilment allows brands to reinforce messages, which often is not possible when fulfilled via a third party.

Valassis has worked with brands across Europe to deliver Cashback & Rewards for products in the pharmaceutical sector, with cashback given to both merchants and shoppers. The service is now being made available in the UK.

Charles D’Oyly, Valassis’ Managing Director, observes: “Our new Cashback & Rewards solution means that brands can deliver benefits directly to intended beneficiaries and without involving point of sale.  It taps into existing interest among consumers for cash back and represents a flexible and compelling promotional tool to engage shoppers via an easy and seamless customer experience.”

Valassis Limited is the UK’s largest coupon and voucher services provider, performing crucial data management and financial clearing services. Responsible for handling most of the UK’s coupons and vouchers, Valassis Limited is uniquely positioned to deliver insights on UK consumer promotions and is regularly quoted as an expert in the media. Valassis is a wholly-owned subsidiary of Harland Clarke Holdings, a US provider of payment solutions, multi-channel marketing campaigns, and secure data-driven lead generation and critical communications.  In addition, Harland Clarke provides promotional products, call centers, and governance, risk and compliance (GRC) solutions.

The post Valassis launches Cashback & Rewards promotion mechanic for brands appeared first on IPM Bitesize.

To celebrate Mother’s Day on Sunday 11^th March 2018, Thorntons has been giving retailers the chance to ‘Pass the Love on’ with its latest competition, offering them the chance to treat the mother in their lives to a spa day.

Hosted on brand owner Ferrero’s trade website, Your Perfect Store, all retailers need to do to enter is to visit the ‘Your Rewards’ page on Your Perfect Store, fill out the application form and tell Thorntons why (in no more than 50 words) the special mother figure in their life deserves a spa day.

The winner will receive a spa day for two, to make Mother’s Day special, as well as a spa hamper and box of Thorntons Continental. In addition, five runners up will also receive a spa hamper and a box of Thorntons Continental.

Levi Boorer, Customer Development Director at Ferrero, says: “With this competition, we wanted to ‘Pass the Love on’ to our valued retailer community and Thorntons Continental Collection is the perfect gift for the Mother’s Day occasion.”

The competition opened at the beginning of February and runs until February 28^th.

Ferrero is the fourth-largest player in the global confectionery market and has been present in the UK since 1966. Ferrero’s brand portfolio includes Nutella, Ferrero Rocher, tic tac, Kinder, Kinder Bueno, and Thorntons. Ferrero’s multi-million pound acquisition of Thorntons in 2015 was part of its continued investment in the competitive UK market.

The post Thorntons launches ‘Pass The Love On’ Mother’s Day promo for retailers appeared first on IPM Bitesize.

Ovation Incentives, the London-based technology-focused performance improvement agency, has signed a strategic marketing alliance with GC Incentive, a leading US incentives and rewards company based in Omaha, Nebraska.  The agreement will enable customers of both companies to benefit from the combined technology, reward and motivation solutions offered by these industry-leading innovators.

The move is designed to take advantage of major trends facing the incentives and recognition industry.  With increasing numbers of US companies demanding global reward and recognition solutions and European companies seeking comprehensive US reward coverage, the alliance brings together these recognised market specialist firms to deliver a single-source solution.

The sharing of knowledge, technology and relationships between the firms brings a combined 36 years of customer experience to the marketplace, having successfully served customers in over 100 countries.  This strength of heritage will be evident as the companies begin to market their combined solutions in the coming months.

Jonathan Grey said the alliance with GC Incentives will extend the reach of Ovation Incentives, which he founded in 2001: “This alliance is a very natural fit for Ovation.  In GC Incentives we see a company that shares the same values of innovation and customer success that we endeavour to follow ourselves.  The business methodology behind our technology and product offerings are very similar, and I’m sure that our customers will see this alliance, and the strong connections that it brings, as a win-win for all.”

For GC Incentives, the opportunity represented by the alliance with Ovation Incentives is one that CEO Rick Buer said will provide strategic benefits to customers.

“We already know how important having a global footprint is to those who look to the incentives industry for leadership,” said Buer. “Working with Ovation Incentives is one more step forward in delivering that global perspective in our business.”

The alliance enables GC Incentives to market Ovation’s Encore platform for global employee recognition solutions, as well as their Universal Voucher System for global reward solutions. GC Incentives will make its GiftPass reward fulfilment technology available for use in the U.S.

As part of the alliance, Ovation Incentives’ Universal Voucher technology will be further developed to meet various client needs for both companies, an example of which would be initiatives to promote corporate wellness programs and sales incentive solutions.

Both companies have agreed to align their sales and marketing tools and assets for their mutual benefit.

The post Ovation Incentives and GC Incentives announce strategic partnership appeared first on IPM Bitesize.

When it comes to buying home and kitchen appliances, British consumers admit that the right reward is just as important to them as quality of product, according to new research.

The independent study of 2,000 British adults, commissioned by 360 Insights, a global leader in ‘Software as a Service’ platforms for marketers, found that 17% of consumers said their purchase decision was driven by a promotion, the same amount that identified product quality as the reason for their purchase.

The only factor deemed more important to consumers was product price, with 23% of respondents pinpointing cost as the main factor. The report also found that the internet is the most common place for consumers to find out about promotions and incentive programmes attached to home and kitchen appliances. 55% of respondents said that they heard about promotions online, as oppose to only 29% that had discovered them instore.

John Bird, UK General Manager at 360insights, says: “This research shows that rewards programmes are at the forefront of a consumer’s mind when purchasing home and kitchen appliances. With customers willing to substitute product quality for a reward, brands not offering an incentive programme run a serious risk of losing customers to rival brands that do.”

Bird adds: “This is worrying for brands that are spending considerable budget getting a customer to the point of purchase, just for that customer to switch to a competitor offering a promotion or reward. The brand is, effectively, spending money in creating demand that a rival company ends up benefiting from.”

360 Insights argues that with UK consumers’ main consideration being price, then promotions, a good price point in the market combined with a well-thought-out reward programme really will influence the buying decision of the customer.

360 Insights is a global Cloud-based provider of channel management software, incentive and promotional analytics and insights. UK clients include Bosch, Siemens, Neff, Stoves, Belling, Zanussi, Electrolux and Dimplex.

The post Promotions as important as quality for UK consumers buying white goods, research says appeared first on IPM Bitesize.

Inflexion Private Equity has announced that funds managed by Inflexion have completed the buyout of Virgin Experience Days, the UK’s leading experiences business.

Virgin Experience Days offers curated experiences to consumers and corporates, from flying Spitfires to short luxury breaks, selling over 750,000 experiences annually. A high-growth business, revenue has doubled to £50m in three years, driven by a seamless tech-enabled customer experience and the ongoing consumer shift to sharing experiences over tangible goods.

Virgin Experience Days operates B2C and B2B divisions. Virgin Incentives, the B2B division, offers experience days for employee rewards and recognition programmes, with clients such as Barclaycard and Samsung.

As part of the buyout, Inflexion introduced leisure sector expert, Simon McMurtrie, as Chairman and the highly experienced Commercial Director, Matthew Briggs. Both will work alongside CEO Paul O’Brien who has led the business for over a decade. Inflexion will work closely with this team to create long-term sustainable growth.

Capitalising on our international reach, Inflexion will help accelerate sales into new markets with growing demand for personalised experiences, and support the re-launch of Virgin Incentives in the multi-billion-pound employee rewards and recognition market. Inflexion’s digital expertise will also help advance the company’s digital marketing strategy.

Paul O’Brien, CEO, Virgin Experience Days, says: “It’s been a pleasure leading Virgin Experience Days over the last 12 years, and I am proud of the successful business it is today. Inflexion shares our vision for growth, backed by their digital expertise and international reach; we look forward to a prosperous partnership.”

Tim Smallbone, Head of Enterprise, Inflexion, adds: “Virgin Experience Days is a globally recognised and respected brand with international growth potential. We’re delighted to back an ambitious management team in a sector where Inflexion has a strong track record, with businesses such as On the Beach, Reed & Mackay and Reward Gateway. This is the third investment this year for our Enterprise Fund that partners with high-growth businesses in the lower mid-market.”

The Inflexion deal team comprised of Tim Smallbone, Tom Pemberton, Shiva Tiwari and Robin Senivassen. Smallbone and Tiwari have joined the Virgin Experiences board on completion.

Inflexion is an award-winning UK mid-market private equity firm, investing equity of £10m to £150m in high growth, entrepreneurial businesses with ambitious management teams and working in partnership with them to accelerate growth. A mid-market specialist with bespoke teams and dedicated capital, Inflexion backs majority or minority investments in the lower mid-market, mid-market buyouts and provides minority solutions for larger mid-market companies through its dedicated Partnership Capital offering.

The post Inflexion Enterprise Fund completes buyout of Virgin Experience Days appeared first on IPM Bitesize.