Today’s Must-Have Loyalty Program Rewards: 2022 Consumer & Channel Trends
A lot of reward trends have come and gone during the past 20 years, following the lead of consumer purchasing patterns. There have been big disruptions—MP3 players, smartphones, voice assistants—but there has never been an event like the pandemic, which radically shifted people’s habits, interests and expectations.
The Great Return to Office 2022: Gas Gift Cards for Employees Are a Must-Have
Building channel loyalty has always been a challenge, and the pandemic has complicated matters more. From shuttered stores to the Great Resignation, many companies are looking for new ways to incent their indirect channels. Fortunately, there are newer and better ways to keep distributors engaged.
The Role of Rewards in Behavior Change
Rewards play a crucial role in changing behavior. It can be a marketer encouraging customers to buy more, a researcher getting participants to join a focus group, or a health professional wanting patients to change their habits. Each one is vying for our attention. We are bombarded with messages that we have learned to filter out.
How to Maximize Customer Engagement with Loyalty Programs
How do you move customers from one-time buyers to super fans? That is your primary job if you are part of the customer acquisition or customer retention team. To retain customers, you need to create loyalty by engaging them and upselling and cross-selling other products. And if you do not do a great job, well, your job is on the line.
Rewards Fulfillment in Customer Incentive Programs
A customer incentive program is incomplete without rewards fulfillment. Customer incentive programs are created to appreciate customers for completing a particular behavior that aims to improve your brand. Rewards fulfillment programs also encourage your customers to repeat and carry out behaviors that are beneficial to your brand. When initiating rewards fulfillment programs, your primary objective should be to ensure that you fulfill your rewards which may be in the form of merchandise, travel, gift cards, discounts, exclusive sales, etc.
Customer Loyalty Programs: 6 Trends to Consider to Sustain Performance
The COVID-19 pandemic pushed forward many trends in customer preferences that were not considered a priority by some companies. While the mid-term and long-term perspectives regarding the depth of post-pandemic recession remain uncertain, we still can highlight several tendencies on the consumer market with reasonable certainty. We want to make this article as practical as […]
Tiered Customer Loyalty Programs: Building A Robust Strategy for the Business
Many businesses spend billions of dollars searching for new customers, neglecting the need to retain old ones. Customer retention plays a role in profitability and the growth and perception of your brand. Studies show that it is six times more expensive for businesses to acquire a new customer than to keep an existing one.
Everything You Need To Know About The Reward Points Programs in 2021
Reward points programs are among the most popular loyalty programs due to their ease of earning and redeeming points. Before delving into the nitty-gritty of loyalty points, you must have a complete understanding of customer loyalty programs and why it is essential for your business.
Revenge Spending Binge: Are Your Offers Still Appealing?
According to Bloomberg Economics, US citizens have amassed about $1.7 trillion of excess savings since the pandemic. Experts from Wells Fargo & Co predict that consumer spending over the next two quarters is likely to be the strongest period in at least 70 years, with a rebound in services leading the way.
How to Increase Customer Lifetime Value Using Customer Loyalty Programs
As a business owner, knowing your customers’ value and how much they tend to bring back to your business is crucial in understanding and evaluating where your business stands. It also helps you understand what you can do to increase sales. You should know that boosting your customer retention rate by only 5% increases your profits by up to 95%.
