A loyalty program is a highly effective way to increase your revenue and also encourage customer loyalty. About 84% of consumers say that they are more likely to remain loyal to a brand with an effective loyalty program. About 66% of consumers say that their spending behavior can be influenced by their ability to earn rewards for their loyalty to a brand.
As a business owner, selling to a repeat customer is less than the cost of acquiring a new customer hence the need to invest in reward programs. There are several rewards programs that you can employ to earn the loyalty of your customers. Are you looking to inspire customer loyalty with an effective and innovative loyalty program? Then you may want to consider implementing the Global rewards catalog.
With the global reward catalog, you can drive engagement and loyalty because it makes your loyalty program more exciting. For example, you can combine travel awards, gift cards, debit cards, or merchandise to your loyalty program to inspire more customers on the need to embrace brand loyalty and increase their purchasing power.
Global reward catalogs usually include:
The use of merchandise rewards in loyalty programs can help provide your customers with a high perceived value. Your customer’s perception of being valued by your brand can be in the form of highly desirable items. Merchandise rewards also allow your customers to earn what they desire, giving them an amazing feeling when they receive such a reward.
Providing the right mix of merchandise in a reward program can help drive your company’s goals and help you to succeed at actualizing them. The global reward catalog contains a wide range of merchandise that suits the different demographic groups, and it can be tailored to suit your target audience. Over 30,000 merchandise in the Global rewards catalog that you can select from to appreciate and inspire loyalty in your customers.
Prepaid Debit Cards
Prepaid debit cards provide creativity and excitement in your reward program. These cards are flexible and can be customized to meet your brand’s specific needs. Different prepaid debit card options are modeled to a unique reward program or complement existing customer loyalty programs. Global rewards catalog provides custom virtual or physical prepaid debit cards, brand-able, reloadable, or single load prepaid debit cards, and restrictive access network prepaid debit cards.
Global rewards catalog offers 400 retail gift cards that are customized to include any specific retailer. These gift cards can either be digital or physical, and they come in multiple currencies worldwide. You can get gift cards from top brands like John Lewis, Macy’s, Starbucks, iTunes, Amazon, and Ikea.
Travel & Experiential rewards
Reward your customers with unforgettable travel memories and earn their loyalty while building your broad and increasing your ROI. Travel and experiential rewards help increase the wow factor and provide a personalized guest experience for your customers. You can find over 20 travel and experiential rewards in the Global rewards catalog and let your customers enjoy a lifetime memory of what it feels like to be loyal to a brand that cares.
How to make sure that your rewards catalog works for your business goals
It is not enough to initiate a loyalty reward program without putting modalities in place to ensure that your rewards catalog meets the desired goal of your brand. The following are steps you can take to ensure that your rewards catalog is tailored to achieve your brand’s objectives:
Make sure that your company logo and branding is applied
Providing a loyalty reward program without applying your logo or branding may, to an extent, defeat the purpose of the program. Instead, you can imprint your brand’s logo on different merchandise you offer to your clients. You can also customize gift cards or prepaid debit cards with your brand color or logo so that they can create a lasting impression in the minds of your customers anytime they enjoy your rewards.
Enable integration with all modern marketing tools – customer management platforms, social channels, etc.
For your customer loyalty reward program to meet your organization’s goal, it should be one that you can integrate with modern marketing tools such as video marketing, online advertising, search engine optimization, customer relationship management, social media channels, lead capture, and conversion, etc. The goal is for you to reach out to more potential customers who, through your incentive program, can be converted to loyal customers.
Should be mobile-first
A vast majority of shoppers make use of mobile devices when shopping. Mobile devices are also used for price comparison, product research, and check for the availability of products in online stores. You can start your loyalty reward program by making it mobile-friendly or using a customized mobile app that is easy for mobile phone users to access. Mobile loyalty rewards programs help you to better communicate with your customers and allows you to connect with more potential customers via several social media platforms at the same time. It will also help you to optimize your mobile site better and analyze data.
24/7 user support and collection of feedback
To make your loyalty reward program effective, you have to collect feedback using surveys or short polls. Feedbacks will let you know if your customers are satisfied with your rewards and what you can do to improve the program. In addition, you should be able to provide 24/7 user support for your customers so that they can enjoy the benefits of your reward program any day and time.
A system of ratings and reviews to evaluate the best types of rewards
Aside from collecting feedback from your customers about your loyalty rewards program, you should also provide a system of ratings where customers can review each type of loyalty program and rate the one that offered the best experience. With the reviews and ratings, you can know which rewards program is most effective and the least effective. It would also enable you to improve your customer reward system for those programs with the lowest ratings.
What is a rewards catalog?
A rewards catalog refers to a listing of merchandise, gift cards, prepaid debit cards that can purchase rewards points through a loyalty rewards program. The customer must earn the rewards from this program. Rewards catalogs also contain a listing of travel and experiential rewards and several other items that a customer can earn a reward for loyalty to a particular brand.
How to use a rewards catalog in customer loyalty programs?
You can follow these simple steps to use the rewards catalog in customer loyalty programs.
Step 1: Decide on the type of rewards you want your customers to earn
There is no limit to the rewards your customer can earn for their loyalty as long as it isn’t over the set budget and it adds value to your customers. Customers can earn points for purchasing merchandise, earn gift cards, discounts, get customized prepaid debit cards for purchases, enjoy travel and experiential rewards, etc.
Step 2: Decide on the type of actions you would like to reward
As a business owner, you can reward customers for referring a new customer, mentioning your product on their social media pages, buying a particular product you plan to move, making purchases over a specific amount, etc. In addition, you can tailor your rewards to areas where you feel your brand needs improvement. For example, if you have poor sales during Sunday afternoons, you can set up a reward for customers who buy during that period.
Step 3: Make your rewards appealing to customers.
Ensure that your loyalty program offers value to your customers; otherwise, they may not be willing to sign up for it. To know what appeals to your customers, try to know more about your customers using the KYC approach. You can also find out if they may be willing to download your loyalty app or carry an additional plastic card in their wallet.
Step 4 Review your options and select your app.
Before choosing a loyalty program, you should find out if the program will be easy to set up and how much it may cost. You should also find out if it can be integrated with marketing tools and software. Finally, find out if it is flexible to offer to customize rewards for different demography of customers.
Step 5 Start the process of signing up customers for your loyalty program.
Once your loyalty program is fully operational, you should promote the program using point of sale signage or in-store signage to encourage your customers to sign up. Make announcements about the loyalty programs on your social media platforms and website. Ensure that you provide your customers with a link to join the program. You can also send marketing emails to those customers you feel are already loyal to your brand.