2018 Recognition Market: Tech Partnering, Wellness & Non-cash Awards

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AccuList USA recently completed proprietary research on hundreds of top performing lists of employee recognition and incentive product buyers to support clients in a business-to-business marketplace that now encompasses close to 90% of companies.

89% of Companies Committed to Recognition Spending

In fact, the 2017 “Trends in Employee Recognition” report from WorldatWork, a nonprofit human resources association, found 89% of surveyed organizations committed to recognition programs, with 65% offering between three and six different programs, from companywide (81%) to individual (69%) to department/team (67%). The top five recognition programs rewarded length of service (85%); above-and-beyond performance (77%); programs to motivate behaviors associated with the business initiatives, such as customer service (51%); peer-to-peer recognition (49%); and retirement (34%).  Certificates and/or plaques remain the most awarded recognition item, at 80% of respondents, followed by cash (55%), gift certificates/cards (45%), company-logo merchandise (40%), and food, such as a lunch or pizza party (39%). For incentive and recognition marketers, targeting can mainly focus on two departments responsible for administering programs: human resources (59%) and compensation (22%).

2018 Trends Include Brand Culture, Tech Partnering, & Wellness

The Incentive Research Foundation’s “IRF 2018 Trends Study” offers recognition and incentive marketers more guidance on changing demand trends. For one, predictive analytics, artificial intelligence and augmented reality capabilities will be a “fundamental requirement” for vendors and suppliers looking to partner with incentive professionals in 2018, per IRF. Marketers also will want to push wellness messaging, since more incentive professionals are adding health and wellness components focused on fitness, food, and comfort to their incentive programs this year compared with other features, says the report. And when it comes to merchandise products, incentive buyers in 2018 don’t want more choice as much as more “impactful products,”  such as products with local sourcing or organic roots and products that can be easily personalized and customized. The desire to build a brand-asset culture around intangibles, such as innovation, as well as traditional assets is one factor pushing these non-cash awards in 2018, notes the report. On the other hand, gift cards will continue to gain momentum this year, according to the IRF, which says mid-size firms spend an average of nearly $500,000 annually on gift cards across all programs, while large ones spend over $1 million annually. Finally, although incentive travel makes up a small part of the recognition pie, the incentive travel industry’s net optimism score for the economy is up almost 20 points from 2017 in the IRF report, leading to budget increases despite rising costs. For more on top incentive trends, see http://www.incentivemag.com/News/Industry/IRF-Top-Incentive-Trends-2018/

 

 

Study: How Consumer E-mail Behavior Varies by Market Vertical

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AccuList USA works with e-mail list and marketing clients on optimizing consumer response for variables that range from list targeting to subject lines to consumer behavior that differs by market vertical. So Movable Ink’s “US Consumer Device Preference Report: Q1 2017” offers valuable guidance on how opens, conversions, engagement and even order values are affected by market vertical and device preferences.

Smartphones Rule E-mail Opens

For all industries studied—retail, travel and hospitality, financial services, and media/publishing and entertainment—the report found most e-mails are opened on a smartphone as opposed to a tablet or desktop. Smartphone e-mail opens have especially jumped for financial services, up 7% from the fourth quarter of 2016 to reach 70% of opens in the first quarter of this year. Financial e-mail opens on smartphones actually peak at 74% on Saturdays, so financial services marketers should plan to reach consumers on the go. However, retail is not far behind, with 61% smartphone opens for apparel and 57% for non-apparel e-mails. While smartphones still led opens, the more content-heavy media, publishing and entertainment vertical also has a good portion of desktop e-mail opens at 32%, followed by travel and hospitality with 29% desktop opens. Tablet opens are also stronger for media and publishing at 18%, higher than any other industry.

Desktops Lead Retail Conversions, Order Values

Mobile optimization is clearly key for open rates, but retailers should not neglect desktop design because that’s where the orders are racked up. Non-apparel retailer e-mails attribute 73% of conversions to desktop use, for example, with 51% of conversions on desktop for apparel retailing. Smartphones are catching up, however, with 40% of conversions snagged by smartphones for apparel retailers, the highest of any vertical. Desktops also deliver the highest average order value for retailers: $171.04 for apparel and $138.57 for non-apparel sales. However, tablet users also score good orders in apparel retailing, with an average order value of $169.69 in the first quarter, up from $126.13 in the fourth quarter.

Read-Time Engagement Prize Goes to iPhones

When it comes to e-mail reading time, the study generally found that iPhones are able to capture more attention than Android mobile phones, Android tablets, desktop computers, or iPads. The finance industry had the longest read lengths on iPhones, with 68% of subscribers spending 15 or more seconds reading their e-mail thanks to the Apple devices. This was followed by desktop computers, where 58% of subscribers read financial e-mail messages for 15 seconds or more. Media, publishing and entertainment e-mails also garnered high iPhone read time, with 61% reading e-mail for 15 seconds or more.

For more data, see the report summary and handy infographics at https://movableink.com/blog/consumer-device-preference-report-q1-2017/