If you're looking for ways to boost employee morale and loyalty, while also promoting your business, employee discounts are a great way to do it. Not only do they provide benefits for your employees, but they can also be a powerful marketing tool.
What are Employee Discounts?
Employee discounts are perks given to employees that allow them to purchase products or services from their employer at a discounted rate. These discounts can range from a percentage off the retail price to special promotions and exclusive offers.
Why Offer Employee Discounts?
There are several reasons why offering employee discounts is a smart move for any business:
- Boosts Employee Morale: Employees feel valued when they receive special perks from their employer, which can lead to increased job satisfaction and loyalty.
- Promotes Your Business: When employees use their discounts, they become walking advertisements for your business, which can attract new customers.
- Increases Sales: By providing employees with a discount, you incentivize them to make purchases from your business, which can increase sales.
- Builds Customer Relationships: Employees who use their discounts are likely to become loyal customers, which is great for building long-term relationships with customers.
- Differentiates Your Business: Offering employee discounts sets your business apart from others and can give you a competitive edge in the market.
How to Promote Employee Discounts?
Marketing and advertising are key components of promoting employee discounts. Here are some effective marketing strategies:
- Social Media Marketing: Use social media platforms like Facebook and LinkedIn to promote your employee discount program. Share posts about the program and encourage employees to share them with their networks.
- Email Marketing: Use email marketing to send out regular updates about the discount program. Include information about new offers and promotions.
- Content Marketing: Create content that highlights the benefits of the employee discount program. This could be in the form of blog articles or videos that showcase how employees can save money by using their discounts.
What Should You Offer?
The types of discounts you offer will depend on your business and industry. Some popular options include:
How to Implement Employee Discounts?
To implement an employee discount program, you will need to:
- Decide on the types of discounts you will offer.
- Establish guidelines for who is eligible for the discount program.
- Develop a system for employees to access their discounts.
- Communicate the program to employees and promote it regularly.
How to Ensure Success?
To ensure the success of your employee discount program, it's important to:
- Continuously monitor and evaluate the program's effectiveness.
- Regularly communicate updates and changes to employees.
- Solicit feedback from employees on how to improve the program.
References
- "Employee Discounts: A Strategic Tool for Employers," by Dr. Bradley J. Rose and Dr. John W. Boudreau (book)
- "The Power of Employee Discounts," by Joseph Jaffe (ebook)
- "The Ultimate Guide to Employee Discounts," by Adrianne Murchison (article)
- "Why Your Business Should Offer Employee Discounts," by Jason Hesse (article)
- "How Employee Discounts Benefit Your Business," by Megan Mosley (article)
