ARTICLES

This 2022 working paper by Andrew H. Newman of the University of South Carolina; Ivo Tafkov of Georgia State University, Nathan Waddoups of the University of Denver, and Grazia Xiong of Utah State University is among the first important academic discussions of cash versus non-cash rewards and incentives since before the pandemic in 2020.

In today's fiercely competitive commercial environment, B2B loyalty schemes have become essential for firms seeking to retain clients and boost revenue. However, with numerous loyalty schemes available, how can businesses differentiate themselves?

From Comarch - the Loyalty Marketing Platform

What’s changed? Time, increased awareness and rapid adoption have altered the landscape. Four years is a long time in today’s digitally compressed socio-economic, loyalty and technology environments.

Gamification is the process of incorporating game mechanics, such as points, badges, and leaderboards, into non-game contexts to engage users and motivate them to complete specific tasks.

Although headwinds still abound for business in 2023, the data shows incentives are still a top priority for C-suite decision makers. In October 2022, we surveyed industry leaders in key verticals, including automotive, consumer durables, and technology, on their channel incentive strategies with interesting results.

Cold, hard facts about your products won’t always persuade customers to buy them. Sometimes its emotional value will.

Mando-Connect and YouGov have partnered since 2018 to explore, interrogate and understand the British loyalty landscape. They have published 3 previous papers on British loyalty, each covered in depth by The Wise Marketer, most recently in April 2022.

Level up your loyalty marketing with the latest insights to keep customers coming back. 100% data-backed with 198 customer loyalty statistics.

In 2019 the US Centers for Disease Control reported that almost half of US organizations offer some form of wellness program.1 A 2013 RAND Corporation study put the estimate at 80 percent for US organizations of 1,000 or more employees.2

2023 is shaping up to be a crucial year for customer loyalty. With an economic downturn on the horizon, retaining existing customers will be a top priority for brands.

Despite continuing challenges to the global economy, those that manage corporate and third-party non-cash incentives currently hold a very positive outlook for 2023.

It’s that time of the year when we reflect on the trends that we think will impact or drive your loyalty program over the next 12 months. The past year of parallel crises has made it very clear that there is a need for programs to be resilient and perform for your business in an upcoming year that is likely to serve up more changes at break-neck speed.

Employee recognition and reward has received a lot of attention in the last decade. Companies around the world are spending a collective $46 billion on reward and recognition programs and just last year, AON reported that of all the factors that drive employee engagement, reward and recognition is the leading one globally.

We don’t often explore the biological and evolutionary fundamentals behind the evidence the IRF uses in support of incentives, rewards, and recognition. Yes, we take care in backing up our claims around the effectiveness of rewards with data from academic research, rigorous experimentation, and even neuroscience, but what about the root, biological evidence behind this data?

The newly released 2022 Incentive Travel Index (ITI) reports that, overall, the incentive travel industry is strong. Recovery is progressing, program design is evolving and there is increased interest in new destinations.

British businesses have endured several turbulent years. Brexit, Covid and the resulting fallout from both events have created an uncertain environment for businesses to operate in.

Building a strong reward and recognition programme has moved right near the top of the agenda for many businesses recently. This is partly because of the changes they’re seeing in their workforce.

As travel restrictions and bans ease, companies are getting back to incentive travel resulting in extraordinary demand on a set of suppliers still largely in recovery mode.

The wants and needs of modern employees have changed a lot over the last few years. Benefits and rewards make up a big part of this, as well as flexible working.

While the pandemic put incentive trips on hold, the 2022 IRF Destination Preferences Study shows that interest in incentive travel as a motivating sales reward has never been higher.

New research into the hidden costs of onboarding talent has revealed that company culture has suffered in 63 percent of UK businesses as a result of high employee turnover

The world of work has changed permanently. Going forward, most workers whose work can be done remotely will work off-site more often. This necessitates a review of incentives, rewards, and recognition systems, especially those aimed at motivating remote and hybrid workers.

If you’re looking for hard, empirical data on the benefits of employee recognition, look no further than the Gallup Report, “Unleashing the Human Element at Work: Transforming Workplaces Through Recognition.”

Who doesn’t enjoy games? Reward-seeking behaviour, a natural competitive spirit, and the classic fear of missing out all contribute to the popularity of gamification in loyalty programs.

Many business experts say that we’re at a watershed moment when it comes to pay and benefits.

What are the aspects of loyalty programs that grab attention from Gen Z customers? Learn how to appeal to this generation’s values.

A growing number of businesses are using gamification as a way to keep employees engaged and motivated.

In today’s fast moving global marketplace customer retention and loyalty is key; particularly in the B2B market...

Creating a highly engaged workforce and a thriving workplace continues to be a major focus for all HR managers. And the reason is simple.

According to research by McKinsey, top-performing customer loyalty platforms potentially boost revenue through points redemption by 15-25% in a year.

In the midst of the Great Resignation, when employers are looking for ways to retain their employees, the importance of human capital has never been clearer.

Inflation in the United States has reached an annual rate of 8.5%, heights not seen since the early 1980s.

Of the few dozen business books critiqued in Academic Research in Action thus far in 2022, The Voltage Effect by University of Chicago economist John A. List counts among the most insightful.

Scenario: you’re being acknowledged by your employer for the excellent work you’ve done...

HR leaders need to support businesses through organisational and cultural change this year, as they continue to work through challenges left over from the pandemic.

The Covid-19 pandemic initially drove mass layoffs, vaulting the US unemployment rate to almost 15% at its peak in April 2020, the highest in more than 70 years. In Covid’s continuing wake, however, the jobless rate has dropped precipitously, to just over 2% for degreed workers and 4% overall.

The fun of adding game mechanics to work environments is only part of the process—gamification needs business goals to thrive.

HR leaders identified reward & recognition, learning & development, workplace relationships, recruitment and onboarding as the most important elements of ensuring a good employee experience.

Why are loyalty programs worthwhile for organisations? What’s the psychology behind why digital gift cards feel like more of a reward than a cash payment?

From sharing top talent to prioritising health, there are several trends that will likely define the workplace in 2022.

The pandemic has triggered seismic shifts in how, where and when we work. It is clear that hybrid working is here to stay, and employees are reevaluating their relationships with their employers.

SPIFs, or special incentive promotions, can effectively drive immediate results. How do you make sure you're getting what you need out of the SPIFs you run? Let's take a closer look at what goes into them.

Behavioral analytics have demonstrated great success in protecting sensitive data without compromising the customer experience

What will 2022 bring for workplace cultures? Here are five corporate culture trends and how you can prepare for them.

Incentive compensation can help you build your brand, differentiate in a competitive talent market.

49 per cent of UK workers believe that productivity and bottom lines are more important to their organisation than its people

How do top-performing companies maximize the impact of their loyalty programs in the next normal? By focusing on customer behavior, segment by segment.

Next in Personalization 2021 Report reveals that companies who excel at demonstrating customer intimacy generate faster rates of revenue growth than their peers.

A new report analyses the detrimental effects that negative workplace cultures can have on employees, ranging from mental health issues to absenteeism.

Loyalty is so much more than a solution to reward your customers. A view on loyalty profiling.

Interest in emerging payment tools such as cryptocurrencies is rising as businesses and financial institutions look for ways to stay competitive.

A new survey highlights that 76% of UK consumers said they preferred a gift card for staying loyal to a company or brand.

Mental health support, fertility planning and flexible benefits are just some of the perks that are becoming standard.

The pandemic has transformed the way we work, and for many, a hybrid future is imminent. There is need to radically rethink culture to get hybrid right.

Data demonstrateing how much momentum there is in the marketplace for SMBs to more fully embrace loyalty offerings for their consumers

The pandemic has changed routine working lives for millions.The benefits that employers have been offering employees to keep them sweet have changed dramatically.

Insight into B2B loyalty program fraud and how program planners might go about minimizing this risk.

Channel engagement can either be reactive or proactive. Insight into the differences and business benefits to a proactive approach.

Card rewards — via cash back is shifting with more millennials and Generation Z customers demanding ease and simplicity.

Insight into how rewards can be used to drive effective loyalty programs. Analysing the member psychology in relation to rewarded behaviour.

how to create great content that resonates, engages, and connects with your prospective buyer.

Hard currency is swiftly dwindling, But are global digital payment solutions the answer...

Leading experts pinpoint 6 top tips for running a successful incentives program.

How has workplace culture changed in the last year and what can we expect moving forward?

Loyalty programs need to constantly reinvent themselves to ensure they are delivering value to their member base

The pandemic has driven rapid adoption of digital channels across countries and industries, but digital’s growth has plateaued. What's next?

Your employees are ready but organisations themselves that are not ready for new technologies.

The IRF’s Industry Outlook for 2021 reports the continued importance of incentive programs to employers

A compilation of the most relevant insights, predictions, opinions, and research to help you navigate your customer loyalty strategy

A Microsoft study finds 41% of workers may quit this year, while business leaders are “out of touch.”

An overview of the many ways data has improved the incentive process.

Adaptability, prediction and resilience lie at the heart of great strategy.

A view of the biggest trends in the customer loyalty industry during 2021

Trends that will shape the next normal

The B2B payments landscape is shifting dramatically as a result of accelerated digitization

Insights on the effects of the Brexit agreement to the UK and EU.

Guidelines on the movement of goods to and from the UK and EU.

How to ship from the UK to the EU

Frequently asked HR questions with answers to guide you in your Brexit planning

Everything You Need to Succeed in the Modern Loyalty Landscape

Insights from Workforce Pulse surveys between late March and June 2020.

A Study on the financial services sector on Incentives and Rewards

The importance of strategic selection of partnerships

New analysis makes it clear: For B2B sales, digital is the wave of the future.

Who doesn’t enjoy games? Reward-seeking behavior, a natural competitive spirit, and the classic fear of missing out all contribute to the popularity of gamification in loyalty programs.

Study on Employee Engagement in the U.S in 2020

3 ways that AI can enhance your B2B loyalty program

How organisations can make incentives work harder for their business.

‘Motivation’ is a complex concept, but it’s what drives loyalty. Six step method to measure Motivation.

Changes in consumer behavior due to the surge in digital mean companies need to revamp their loyalty programs. Here are the essentials for success.

As companies extend commitments to remote workforces, cybersecurity teams need to address new risks while helping create business value in the next normal.

Businesses must ensure that trust is front and centre when managing remote teams.

Many employers are considering what they could offer key people as extra compensation to maintain motivation and retain key staff.

Survey into the rising tide in the use of and engagement with incentive programs.

Why we need to tap into employees’ inner motivation to see the best results

Top Loyalty Program Trends 2020

If you’re looking for hard, empirical data on the benefits of employee recognition, look no further than the Gallup Report...