This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Here are some common rewards models you can consider offering to your customers: Points-Based RewardsPrograms: Points accumulate toward free or discounted items to motivate repeat business (Starbucks does this brilliantly through their My Starbucks Rewardsprogram). These incentivize them to stay loyal.
It may include everything from answering phones at a hotel to providing social media support for a large corporation. Supported management in efforts to increase productivity by motivating employees through improved rewardsprograms. Customer service is a broad term that covers a large number of tasks.
We believe these trends will occupy most brands’ efforts during 2019. An example of effective alignment of strategy with tactics include Australia’s Coles Supermarket chain and its flybuys rewardprogram. This sounds remarkably simple, but this action delivered multiple benefits: driving program engagement.
It is also restrictive from a campaigning standpoint: making it harder to take advantage of your whole marketing inventory for loyalty purposes, or to compare how different segments are reacting to different marketing efforts across different channels. Uber credit or a $5 Starbucks voucher as they check into the hotel.
Banks have been in and out of rewardsprograms for decades – but their focus ebbs and flows depending on the economic cycle as well as the regulatory framework. Compounded in Europe by the slashing of interchange fees, banks have been left with reduced margins from which to carve out rewards value[v]. CX enhancements at scale.
Plus, many types of points are widely appreciated by customers, and are useful to the brand for scoring different customer actions while influencing behavior. Many loyalty program members will now be accustomed to similar liquidity enhancements, such as exchanging your American Express Membership Rewards Points into Avios or Bonvoy.
Such ‘loyalty’ programs today are actually just rewardsprograms: ‘you do this and I will do that.’ This is normally in the form of static rules which apply a flat 1%+/- reward across the board. Hotel rooms forecast to be vacant would be a classic example. It’s the emotional value which creates real stickiness.
More enlightened marketers, on the other hand, see points as a way to keep score of customer actions at many different touchpoints along complex customer journeys. When I last converted a hotel currency into United Airlines MileagePlus, it took three or four business days. This effort is a marked improvement.
The incredible degrees of customer engagement that have been achieved, should inspire and guide the efforts of loyalty marketers in the coming year. Voxi is the ‘youth brand’ of Vodafone, whose highly successful VeryMe rewardsprogram has previously been praised by Currency Alliance. Hybrid points programs.
We organize all of the trending information in your field so you don't have to. Join 97,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content