One of the most common questions we get from our customers is what might their employees like to redeem their virtual coins for in their Eloops Reward Store? In this article, we will share some best practices that will help you create the best virtual reward store for your employees.
Key Challenge - how to create a great store that your employees will love to visit and redeem their coins in, when (like most companies) you have a limited budget to work with!
Allowing your employees to choose what they want for themselves has a big advantage - you can be sure that they’ll be happy with their reward! And here you can offer a variety of rewards, from gift cards and company merchandise to cashless ‘experience’ items like pushing a pie into the face of the CEO. You can even go down the route of offering raffle tickets for one awesome higher value prize.
Thanks to Eloops you can reward employees not only on their birthday, work anniversary or for the holidays. Through virtual coins and a virtual reward store, you can easily reward them for their positive behavior in connection with your company values, and for engaging with your company culture through participation in your app activities.
How does your reward store improve their experience? It completes the loop for employees by letting them know there will be rewards for them to choose in your store. And this motivates and incentivizes them to have many more interactions with your app.
Reward Types/Collections:
Gift Cards - the easy way to ensure your employees get what they want, with fast delivery directly to their email! In Eloops you can purchase and add different gift cards like Amazon, GrubHub, or a Spa & Wellness card. There is also the option of the Eloops Multi-Card that can be used at over 1,000 different stores.
Company Merchandise - also known as company ‘swag’, can help your employees become amazing company ambassadors as they show everyone where they work and are proud to be part of. Also, our data speaks for itself about this - one of the most popular redeemed rewards is company merchandise!
Experiences - 'cashless' items that employees love having the opportunity to access. They are cost-less for you and priceless for them.
What is the advantage of these? They give your employees the chance to purchase something that money simply can’t buy anywhere else. They can only access these items through participation in your company app.
Your Company Products - Are you a health company? A retail operation? Let your employees enjoy the benefits of what you are selling/what your service is - allow them to feel the experience of being your customers!
Raffle Tickets - A smart way to manage your reward store, especially when you have a small budget and a lot of employees! Offer your employees the opportunity to redeem their coins for single or bundles of 5 or 10 raffle tickets in your store. This adds another layer of healthy competition and fun - the more tickets they have, the more chances they have to win the awesome prize you are offering!
Now that you know about the rewarding opportunities available in Eloops go ahead and build your own company’s Virtual Reward Store!
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