13th January 2020: In the corporate world, companies are looking for new ways to motivate employees and retain customers. Employees these days want more than good pay and perks, they want to be a part of the organization and be recognized for it. That is where loyalty programs come in. They enable companies to appreciate their employees and retain their customers. These programs recognize various things like the total service tenure of an employee to achievements that may be one-time or happen over a while.
Rewards can be anything from a small gesture like a thank you note to an award with a bonus. Though more common in large organizations, such programs are steadily gaining popularity in small companies. Here’s a list of 5 must-have reward programs in India today.
Advantage Club: India’s largest employee engagement platform, Advantage Club provides corporate professionals exclusive discounts on travel, dining, shopping, and other sectors. Through 10,000+ brand partners like Flipkart, PVR, Apollo Pharmacy, Lifestyle etc, they provide corporate employees an end-to-end personalized experience on offer availment. Companies can also run reward and recognition programs for their employees where they can award employees points on the platform, which in turn can be used against the same marketplace of offers.
Loylty Rewardz: Loylty Rewards is a premier client loyalty management company. It runs loyalty programs for 27 banks under Max Get More, its flagship brand. By studying consumer behavior, it develops suitable rewards and loyalty mechanisms that are profitable for everyone including the consumers. Founded in 2006, Loyalty Rewardz currently is the leader in the bank rewards space.
Qwikcilver: Founded in 2007, Qwikcilver powers 9 out of every 10 gift cards sold online or offline. Qwikcilver leads the e-voucher gifting sector and provides gift cards and voucher programs. They have merged with a similar company called Pine Labs today.
LimeTray: LimeTray is a startup directed at helping restaurants market themselves online, engage with and gain customers. 6 out of 10 times, a restaurant in India closes shop in less than a year due to failure to reach out to customers. It bridges that gap by getting restaurants online and provides them with the right set of tools that enable them to interact with customers, therefore improves their reach and performance. LimeTray’s restaurant loyalty program rewards new customers with reward points whether they are online, offline, or ordering through a 3rd-party service provider.
MintM: A mobile rewards program that is hosted on the cloud, MintM rewards users for shopping, traveling and referring others. MintM – short for mint money was created with the single purpose of customer retainment. Available for free on Google play store and iOS store, MintM rewards both the partners and the end-users.