At the same time, this process also offers many opportunities to be seized in order to re-orient with new momentum towards the future. “In circumstances such as ours, it is crucial to acquire a new awareness of our surroundings and new skills that will enable us to face the challenges of tomorrow. In this sense, the first aspect to understand is that innovation is very often at hand, but we do not always realise it». This is a new vision of enhancing quality and local craftsmanship that Emanuele Guido, Exhibition Director Il premio, la costruzione di un valore” (“The reward, the construction of a value””), held on 22 June 2021 and organised by Fiera Milano, in collaboration with Business International - Fiera Milano Media. This was held as part of a series of digital meetings designed to help all those interested discover the trends and prospects of rewards and the gadget sector ahead of the next edition of HOMI , the exhibition dedicated to the world of homeware and lifestyle, and PTE -the event dedicated to advertising, promotional textiles and personalisation technologies. The former will be held from 5 to 8 September 2021 and the latter from 7 to 8 September 2021 in the halls of Milan's Rho exhibition centre.

This was a moment of dialogue and comparison that, under the careful moderation of Andrea Demodena, Editor-in-Chief of Promotion, also saw the participation of Massimo Gabetti, Procurement & Creative Hub Director of Coro Marketing, Claudio Martinelli, Marketing Manager of GMF (Unicomm Group), Vincenzo Russo , Associate Professor of Consumer Psychology and Neuromarketing and Coordinator of the Neuromarketing Behavior and Brain Lab Research Center at the IULM University, Anna Zinola, Professor of Research Methodology at the Catholic University of the Sacred Heart in Milan and contributor to Corriere della Sera. “If we think,” Guido continues, “about how much needs have changed today, in terms of time, cost, trust and security, both on the part of customers and on the part of suppliers and partners, it is possible to understand how the eco-systemic ability to respond comprehensively to the needs of its stakeholders will be at the heart of companies’ future objectives. This will be in order for the companies to be able to align themselves with the increasingly stringent demand for multi-channel services, which is already becoming a decisive element in terms of resilience against phenomena that must be understood and anticipated through the analysis and study of data”.

THE REWARD AND THE CREATION OF VALUE

“When we talk about the creation of value,” Andrea Demodena explains, “we must first of all understand that we no longer mean just the direct relationship between company and customer, but we are referring to a wider sphere that impacts on the entire value chain of a product, ranging from the relationship between company and customer, of course, to that between company and retailer and between company and employee. Over the last 20 years, the reward, while never losing its emotional charge, has instead changed its materials, trends and the opportunities it offers, while still remaining a fundamental object for improving, establishing or evolving the relationship between the brand and the context in which it operates and positions itself". This is a constantly changing field that has clearly undergone a major transformation in the last 15 months. “In this sense, the world of homeware,” Demodena emphasises, “is the spearhead of rewards events. Suffice it to say that out of 150 prize collections monitored in Italy from Promotion to February, 52% included only products dedicated to the home. Being present in a prize catalogue, therefore, means a strong promotion of your brand.” This is an important indication to highlight, and one on which a great deal of work still needs to be done at a cultural level in Italy in order to unhinge a stereotype that in the past often saw a devaluation of participation in prize collections that no longer makes sense, not even according to the data proposed by authoritative research in the sector.

THE IMPORTANCE OF REWARDS FROM DATA TO EMOTIONS

According to research developed by Nielsen," Zinola comments, "today, 3 out of 4 Italians (75%) are enrolled in at least one loyalty programme at a retailer. Of these, almost 50% are signed up to an average of two to five programmes, while 17% are enrolled in more than six. In addition, an analysis produced by Accenture claims that 70% of consumers perceive loyalty programmes as an integral part of their relationship with companies". The word ‘engagement’ is, therefore, fundamental, and is structured in a two-level path. “In its elaboration,” the professor continues, “the reward has two meanings: a rational and an emotional one. Thus, while the former leads us to see the utility of the operation, the latter makes us evaluate above all the gratification component. It is therefore essential that multiple elements, such as brand recognition and product sustainability, are taken into account when defining rewards. It is equally important to set up reward schemes - and communication campaigns - that, in addition to being consistent with the brand, are differentiated so as to avoid the clone effect". This is a risk to which great attention must be paid, especially at a time when the ability to communicate, excite and involve the customer is the real key to remaining competitive. “If, in the past, it was thought that a person made their decision, even at the time of purchase, based on a mere rational calculation of utility and cost-benefit” - Prof. Russo explains -, “today we understand that, in reality, our choices are, for the most part, guided by emotions and that the element capable of creating value in a reward or a product is given by the pervasiveness of emotions and the unconscious and strongly emotional activation of the stimulation of our senses, as well as the connection that stimulation has with our memories and our experiences. Starting from this principle, we can therefore assume that we are emotional subjects capable of rationalising a posteriori what our emotions suggest we do. Therefore, if you want to create customer engagement you have to be able to speak to their primitive brain. Numerous neuroscientific studies show that our Limbic System, the brain's seat of emotion, is capable of activating an emotional response within milliseconds. The type of activation of this part of the brain is capable of anticipating what is consciously decided a few seconds later rationally”. This is a time frame in which processing mechanisms can determine success even for a simple detail that has had an effect on the different sensory receptors of the engaged consumer.

TRENDS FOR THE FUTURE

Communication and marketing departments are already aware that promoting a message to lead the user to the desired call to action is a delicate balancing act. «Designing a catalogue is an exciting challenge,” Martinelli says, “in which an object becomes a prize, thanks to a relationship between customer and seller. The consumer decides to accept the establishment of a relationship through which they will later remember the brand. Having said that, however, after the pandemic arrived and a shift to a more introspective focus took place, Italy now has a great opportunity: to focus on the beauty of its tradition and craftsmanship”. These values are fundamental to our country’s culture and which certainly help stimulate memories and flavours that we may have taken for granted in the past. Now, they have the chance to become symbols of security and reliability. “In the structuring of a catalogue, for example,” Martinelli adds, “Made in Italy thus assumes an essential role in the creation of an engagement based on belonging, the revaluation of resources, the sustainability of production and the quality of the proposed offer. These are all dominant factors in the creation of a project that meets the new needs of customers at all levels”. The rewarding result should not be underestimated, all the more so at a time such as the one we are currently experiencing. “However, when we think about a reward scheme catalogue in its entirety,” Gabetti says, “today it is important to take into account all the factors, linked to brands, products and projects, that characterise it and that must be guided by a rational and relational approach to the client, who should be understood not only as the end consumer but also as supplier and producer”. This is a concept that goes back to the ecosystem principle that has become increasingly important to adopt, in order for companies to be able to look forward to business recovery. “Care for its stakeholders,” Gabetti continues, "is based on eight trends that have emerged in recent months, also based on the new needs arising from the pandemic. From personal well-being, home care (in the broadest sense as well as socialising at dinner and in the kitchen) and responsible parenting, to getting back to travelling and hobbies, as well as Italian style and sustainability, the market today offers us a great opportunity to find new ideas to engage our community on a broad spectrum. The real challenge in this new post-pandemic setting, however, will be to be able to develop a winning storytelling style that takes into account both the brand and the coherence with its mission and, at the same time, is capable of evoking deep emotions in people”.