Farnell element14, has today announced plans to expand its innovative business rewards programme, The Power Circuit, in the UK and Ireland.
The company so far expects to give back £500,000 in business rewards to loyal customers following the launch of its popular Power Circuit programme in June 2012. The enhanced benefits will now offer customers up to £10,000 in business rewards on purchases from Farnell element14 – which is 20 times greater than last year – as well as exclusive offers and business advantages, including enhanced service benefits.
Rewards include Farnell element14 vouchers to use on items from its 500,000 product range, experience vouchers for corporate hospitality and team building or donations to a choice of leading national and international charities.
Alan Paterson, Marketing Director at Farnell element14, said: “Following the success of the Power Circuit business rewards programme, we are delighted to launch the enhanced version of our scheme based on feedback from customers. They told us that generating their own success was an important criteria for the development of the programme, as well as providing recognition for individual users to demonstrate value for money in their own business. The enhancements that combine rewards with exclusive offers and business advantages have been designed to accommodate the needs of our customers, who are consistently at the heart of our business.
“This customer loyalty programme demonstrates our ongoing commitment to provide a truly value-added business advantage, as well as a superior experience over the long-term. As we aim to grow our business, it’s my objective to increase the total rewards given back to over £2 million this year and I’ll look forward to welcoming many more new customers on board.”
Natalie Harper, Business Development Director at Innovative Physics, said: “The Power Circuit has been hugely beneficial to Innovative Physics. We received a reward of £250 in vouchers and have consequently built and equipped a new employee engineering workshop. I must also thank Farnell element14 for giving us the opportunity to visit Las Vegas and attend CES. It has led to a real tangible business benefit as we have been able to develop our supply chain with contacts we made at the show.”
Innovate Physics were amongst 14 loyal customers that were offered a Consumer Electronics Show experience in Las Vegas in January as a reward for their commitment to the Power Circuit business rewards programme. These loyal customers were from five design engineering companies across Europe: Innovative Physics from the UK; Rival Joseph, and Del Ingenierie SAS from France, ISIS Innovation Center GmbH from Germany and Optronic from Switzerland.
The next evolution in the scheme will continue in the UK, Ireland, France, Switzerland and Germany and will be rolled out across Europe in February.