How Much Do You Really Know About Employee Purchasing Programs?
One of the most important things involved in running a successful business is keeping your employees happy and giving them incentives to maximize their productivity. Incentives vary from business to business, but one of the most common benefits offered is an employee discount.
Employee discount programs are great because:
- Employees love them!
- They make recruiting easier – Telling a potential recruit that you offer an employee discount program is an exciting sales point that could tip the scales in your favor if a candidate is weighing your offer over another.
- They get employees to buy your products – For most of us, receiving a discount can be the deciding factor in completing a transaction. Offering an exclusive discount could be the difference in getting your employees to purchase your products that they may not have purchased otherwise.
- They improve morale – Offering perks shows that, as a company, you care about your employees and appreciate the work they do. Showing that you care is the most natural way to increase their loyalty and get their best work in return.
Offering employee discounts is one of the best ways to win over your employee’s hearts, but employee discounts are often so desired that they can be the target of fraud by both current employees and non-employees looking to cheat the system. Just this week there were reports of a store manager who had purchased over $11,500 worth of product with an employee discount and was selling the items for a profit. Having fraud in the mix can make all the difference between success and failure of an employee discount program.
So, the real question is, how do you create a successful employee discount program that will make your employees happy and also be a benefit for your company? That’s where employee eligibility verification comes in.
With employee eligibility verification, your company can:
- Promote your discount openly – No need to hide the landing page for your employee discount in fear of it going viral or falling victim to fraudulent purchases. With eligibility verification, you decide who qualifies for your employee discount and you can rest assured that only eligible employees and customers have access. Openly promoting your employee discount will spread awareness and increase your ROI within the program.
- Extend your discount to other valuable groups – Extending your employee discount to others in the community is a great way to create goodwill and get your brand on potential customer’s radars. With eligibility verification, you can extend your discount to valuable groups like nurses, government and military employees, first responders, or even employees of corporate partners – the list is endless!
- Gain insight into metrics – With eligibility verification, you can track things like which employees are purchasing your products, how often they are using a discount, and how much they are spending. This is a great way to see any red flags on employee discount usage and also to see what products are the most popular among employees.
- VIP experience – Everybody loves a good discount and your employees will love using their discount even more when it’s as simple of a process as verifying their eligibility. No more jumping through hoops to gain access. With eligibility verification plugged into your cart or landing page, employees will have access to their discount in a matter of seconds after verifying their eligibility.
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