Articles Tagged with: Customer Rewards

Why curated customer loyalty reward triggers keep multi-demographic audiences engaged

Why curated customer loyalty reward triggers keep multi-demographic audiences engaged 

Grace Alexander

MarTech Blogger | June 6, 2022


Customer engagement isn’t a one-and-done process. Capturing attention is only the first step when it comes to building lasting relationships between brands and their audiences. The most successful companies in this regard are those that actively fight back against disengagement and loss of interest using lifestyle marketing.

When businesses offer a narrow selection of rewards and loyalty offerings, they’re at heightened risk of losing customer attention over time. Having a variety of potential incentives for customers is a powerful advantage for a business, as is using automated triggers to guide each individual to the rewards that best suit them. 

Why do some customers lose interest in rewards? 

Simply having a rewards program is no longer a major differentiator for a business. Rather, a company that is serious about loyalty must consistently prove that its rewards offerings have value and meaning to customers. 

 Engagement is the goal of a customer rewards program, and that in turn is contingent on offering rewards that fit audience interests and meet or exceed their expectations. There are a few traits that can determine whether a rewards program fires up consumers’ interest or is quickly forgotten: 

  • Does everyone get the same rewards? If there’s only one rewards progression, a company may find itself failing to connect with a significant portion of its potential audience. Consumers today are very diverse, so an ideal rewards program will offer customized incentives to hold interest. 
  • How frequently are rewards given? If a business offers a low-frequency rewards program, requiring numerous interactions before consumers receive anything valuable, they may find that interest is low. The vague promise of future value is not very compelling to customers, so brands should reach out often. 

As Hubspot noted, the most effective companies at building loyalty achieve this goal by giving generous rewards often and fully integrating these programs with their overall sales processes. Rather than tacked-on additions, these businesses’ rewards offerings are fundamental parts of the way they sell their products and services to customers. 

Hubspot suggested that when organizations achieve a high level of integration between rewards and the rest of their business, the rewards program ceases to be its own separate entity. Rather, these businesses simply offer their loyalty incentives at all times, inviting customers to engage more deeply. 

How do you counteract customer disengagement? 

It’s one thing to create an environment conducive to audience engagement. It’s another to actively fight back against parts of the customer journey where buyers may fall out of touch with businesses. When working on this type of engagement strategy, it’s important to remember that nearly any interaction can be customized to keep customer interest. 

 Customer behaviors follow patterns. By collecting interaction data, businesses can map out the paths their audiences are taking. Do people typically disengage after a certain amount of time? Is there a supplemental experience that could make an ongoing connection more fun or entertaining? 

 McKinsey & Company Partner José Carluccio recommended that companies look into their breakage patterns, determining which segments of their customer bases are not engaging with loyalty programs. Figuring out which types of customers aren’t staying engaged is the first step to improving the relevance of rewards offerings and triggers. 

 Once businesses have determined where customers are disengaging, as well as which groups of consumers are most likely to break off engagement with the brand, they can respond by adding new elements to the program. Carluccio recommended offerings such as periodic reminders to clients that they have unredeemed rewards as well as more redemption options, potentially even including charitable gifts. 

What is the value of customized customer rewards triggers? 

One potential cause for disengagement — or a lack of engagement in the first place — is the use of rewards triggers that don’t match up with how segments of a company’s audience actually interact with the brand. Customization can resolve this issue, attaching loyalty points to nearly any activity and bringing a wide swath of customers into closer contact with the brand. 

 Companies can reward both online and offline interactions with custom rewards triggers. In-store purchases, app engagements, sign-ups for services, logging in to accounts — these and more can help customers earn points in a rewards scheme. 

 The ability to create a highly customized rewards-earning process helps businesses engage with their audiences in two ways. On one hand, it allows brands to reach their customers where they are, offering points for their preferred interaction styles. On the other, it lets organizations map out preferred customer journeys, encouraging certain types of activities. 

 To start creating these better-directed customer journeys, brands can map out the ways their customers prefer to interact with their rewards offerings. American Express recommended using diagrams of consumers’ dealings with organizations, across multiple channels and over time, to identify the gaps where disengagement is most likely to occur and target those weak spots. 

Businesses that understand how their customers interact with their offerings, and how they’d like to, are well-positioned to update their rewards triggers. Creating new sides to a loyalty program can open up the strategy to a wider selection of customer groups and demographics than ever before. 

Perx customization helps your brand thrive 

No two brands are exactly alike, which means customization is always relevant from a rewards and loyalty standpoint. This is one reason to choose the Perx Lifestyle Marketing Platform as the backbone of your organization’s rewards and loyalty program. 

 The Perx platform’s Rules Engine allows a high level of control over rewards triggers, right out of the box. By designing a system of tailored rewards based on what various groups of customers actually want for your business, you can deliver a rewards program with fewer obvious points of disengagement and a smoother customer journey overall. 

The value of a rewards strategy is at its greatest when consumers actually want to use it and engage with it. Customization via a powerful rules engine puts this goal within reach for your brand. Request a demo of the Perx Lifestyle Marketing Platform to see this solution in action. 

CUSTOMER SUCCESS STORIES

Is your rewards program drowning you in loyalty debt?

Is your rewards program drowning you in loyalty debt?

Is your rewards program drowning you in loyalty debt?

Is your rewards program drowning you in loyalty debt?

Grace Alexander

MarTech Blogger | May 19, 2022


Has your customer loyalty program been giving out points to customers who don’t redeem their rewards. This all-too-common scenario represents a breakdown of the way rewards and engagement strategies should work.

Traditional loyalty programs built on earn-and-burn models of point accumulation are particularly susceptible to loyalty debt. Due to a weakness in the system — a weak rewards slate, or an unoptimized redemption process — people are earning points and never burning them.

Something has to give. The real appeal of a rewards program comes when customers get to actually earn their rewards. If your audience isn’t reaching that step, your loyalty strategy isn’t living up to its potential, and this could be a sign to upgrade, providing hyper-personalized and relevant rewards, alongside nudges to action that will remind users to spend what they’ve earned.

Loyalty debt: Among the biggest issues with rewards programs

Where does loyalty debt come from? Typically, it begins when a company starts issuing reward points without performing in-depth research into what customers want. This leads to a disconnected experience where people are piling up points and building loyalty currency but not finding any way to convert them into rewards.

Simply giving points an expiration date might seem like the simplest way to get out of this situation. This will wipe out the debt, but it’s not a satisfying resolution. After all, the value of a rewards program really comes from people using it. The simple promise that customers can earn points will lose its appeal over time if they always hold onto the points until they expire.

A customer rewards and loyalty program that people actively use and enjoy is an ongoing benefit for your company. An earn-and-burn system where nobody ever burns can’t deliver that level of advantage. After all, PricewaterhouseCoopers’ audience preference research revealed that 65% of U.S. consumers find positive experiences more influential than advertising, and 54% think most company experiences could be improved.

By using a management platform that delivers improved analytics on what customers want from your brand, you can craft a loyalty and engagement program that people are excited to use. Better aligning reward options with customers’ wishes through hyper-personalized offerings is a far better way of reducing loyalty debt than simply causing points to expire. This way, your audience gets what it really wants: a great experience.

Turn liabilities into strengths

Keeping a close eye on the way customers interact with your brand is at the crux of designing an improved loyalty program. While still using the basic model of earning and redeeming points, you can transform the way people interact with your brand — making sure that every part of the program is optimized.

Creating more opportunities to redeem points is a great starting point for increasing a program’s appeal. If your audience is focused on dealing with your brand in physical stores, integrating redemption into point-of-sale terminals should be a priority. In cases where a mobile app is a major touchpoint, that app should interact with the loyalty point system.

In addition to introducing new redemption options, your brand can create other triggers associated with loyalty debt. For instance, you can mitigate point expiration, using this as a reward in itself. Customers may be happy to have retained their points and more likely to use them to engage with the brand. If the points had been left to expire, those positive experiences and interactions wouldn’t have happened. Gamification features make this process fun for customers to engage with, encouraging them to keep participating in earn-and-burn loops and opening opportunities for easy upsell and cross-sell transactions.

A sufficiently evolved rewards program can work hand-in-hand with overall business objectives. PYMNTS recently reported on post-2020 success stories from the quick-service industry where loyalty programs at restaurants such as McDonald’s, Taco Bell, Chipotle and Starbucks have made their rewards programs into key digital sales drivers. This kind of tangible progress can only come from customers actively using rewards and cashing in loyalty currency, not simply building a brand’s loyalty debt.

Open programs to partners

When you look beyond the walls of your own business, you gain more ways to expand the usefulness of your loyalty program. Point earning and redemption can extend to partner businesses, creating a more valuable custom rewards system for your customers, while potentially promoting all the companies involved.

There’s more chance that customers will redeem their points and less risk of them building up or expiring when they’re usable across a spectrum of partnered companies. The integration between your business and partners should extend behind the scenes, with the businesses connecting their tech platforms and sharing data.

A joint loyalty rewards program delivers not just a bigger experience but also a smarter, better tuned one — the extra data can help you perform advanced analytics and offer more relevant rewards. Customers who may not be interested in a limited loyalty offering may engage more deeply in a partnership program.

As customer loyalty specialist Adam Psner explained in a LinkedIn blog post, building partnerships has become a common approach for businesses hoping to build optimized loyalty strategies. There are a few ways to make the partnerships happen — either a full integration between the companies or hiring a partner to provide rewards as a value-add. No matter which you opt for, the expanded scope could trigger a major reduction in loyalty debt.

Perx can power ideal, optimized point systems

If you’re eager to build an optimized custom rewards system that will cut down on loyalty debt while increasing positive customer experiences, you need the right technology at the heart of the program: Perx Lifestyle Marketing Platform.

The platform’s Impact Dashboard gives you real data-driven insights into what your customers care about. That in turn allows you to create point-earning triggers, redemption opportunities and corporate partnerships that match what your customers really want.

A more accurately targeted loyalty program is the perfect tool for creating value, by delighting customers instead of simply giving them points. The basic framework of a point-earning system remains the same, it’s simply been revamped to match your customers’ interests and lifestyles.

The platform’s ability to enable smooth integration with any and all rewards merchants is another feature that will help you build a truly appealing custom rewards program. When a solution is easier for both you and your customers to use, there’s nothing standing in the way of a great loyalty experience.

Request a demo to see the platform for yourself.

CUSTOMER SUCCESS STORIES

Future-Proofing Customer Experience Personalization

Future-proofing customer experience personalization:

6 essential strategies for your rewards program

Amrith Ganesh

MarTech Blogger | April 29, 2022


Your customer data management process is critical to the success of your business. Without a customer data platform designed to support your digital marketing strategy, your rewards program will be ineffective at best.

What makes personalized customer experiences and engagement critical to achieving your business goals? According to one study, customers who are 90% engaged buy 90% more often and spend 60% more per transaction. Therefore, your data management and analysis processes are vital to creating highly customized customer journeys that drive continual engagement and revenues for your brand.

6 data-driven steps to a highly effective rewards program

Customer experience personalization is key to an effective, long-term digital marketing strategy. These six strategies are essential to building future-proofed, hyper-personalized customer experiences.

1. Consolidate your data

Data is frequently stored in separate ERP, MRP, CRM, marketing automation, web analytics, call center platforms, and other systems. As a result, most customer feedback analytics programs are inefficient since many of them waste a significant amount of data.

Using a centralized customer data platform can help you make sense of the data you’ve collected. Once your data is consolidated, cleaned, sorted, and segmented, you can leverage it to build the highly personalized experience journeys your customers crave.

Example: Perx has partnered with ONESIAM to help create a SuperApp. By bringing together more than 1,000 companies across various industries, opportunities are created to collate data into a clear picture of customers and their lifestyles.

This data can then be used to develop an overarching customer journey that is highly personalized and enhanced with gamification. Customer loyalty to any individual partner results in universal rewards (VIZ COIN) that can be converted and redeemed across any of the companies involved in the platform.

2. Dynamically engage customers and their evolving lifestyles

As conceptualized by Gartner, dynamic customer engagement is an alternative to reactive service. Companies using this method analyze customer data to turn every interaction into an opportunity to delight their customers and make them targeted, personalized offers. Such opportunities are plentiful because, as Gartner adds, only 9% of customers’ issues are resolved through self-service.

Organizations can invest in designing an elevated and seamless integration of offline and online experiences to offer meaningful and rewarding customer journeys that can continually adapt to future customers’ needs.

Perx’s partnership with ONESIAM supports a Universe of Extraordinary Experiences, and maximizes what customers gain from each spending by transforming existing Loyalty Programs into a value creation system.

The ONESIAM SuperApp can recognize patterns in user behavior thanks to AI-based technology. For example, the AI analyzes purchasing behaviors, predicts each customer’s next purchase, and curates a selection of products and services based on each user’s interests as part of hyper-personalized marketing.

Using data to engage consumers in this way dynamically drives the creation of campaigns that meet customer needs and enhance the integrated experience for robust customer engagement and retention.

3. Leverage data through gamification and customer loyalty programs

Develop a loyalty rewards program that offers hyper-personalized rewards that excite and engage users and create a shopping experience where purchases are made to elevate the quality of life and enhance potential.

Just as VIZ COINS in the ONESIAM SuperApp can be earned and spent with greater ease and excitement thanks to the gamified experience, individual brands can leverage the power of gamification to expand and improve their rewards program.

By reimagining how to engage and reward your most loyal customer, you can create future-proof fans of your brand who can also become brand ambassadors.

4. Personalize all engagement, but focus on digital-first

Build a digital-first framework that is designed to support ongoing customer experience journeys, not just one-off interactions.

McKinsey notes that “Today’s personalization leaders have found proven ways to drive 5-15% increases in revenue and 10-30% increases in marketing-spend efficiency — predominantly by deploying product recommendations and triggered communications within singular channels.”

Using data to create deeply personal, dynamic experiences for your customers will increase their trust for your brand and lead them to choose you again and again over other options put before them by your competitors.

Concentrating on digital channels helps make your messaging part of their daily lifestyle, until checking their progress in a game or what rewards they have unlocked becomes as natural and routine as getting dressed in the morning.

5. Exhibit digital empathy to leverage your customer’s emotions

Leading with compassion is critical to succeeding on digital. Cold and sterile offers won’t work; you have to connect emotionally with your audience.

According to Deloitte, 90% of customers find personalization appealing, and 4 out of 5 customers are more likely to purchase from a company that offers personalized experiences.

“The combination of convenience, customer understanding, and emotional engagement drives loyalty in customers and increases returns for organizations. Emotionally engaged, loyal customers not only spend twice as much as those who are not engaged, but 80% of them will recommend the brand to friends and family.”

When you connect with your customers on a basic level, they feel that you truly have taken the time to get to know them, and you can build on this customer relationship to drive actions and revenues.

6. Reap the benefits of hyper-personalization via gamification

With a solid customer data management strategy, you can focus on establishing a digital lifestyle ecosystem that drives business toward sustainability through the co-creation of shared value.

Maximize revenues through detailed product targeting and deployment of a robust and informed recommendation engine that can deliver individualized pricing and offers based on customer purchasing behaviors.

Lower customer acquisition costs by improving retention rates through increased brand stickiness and turning loyal customers into brand advocates. Additionally, reduce operational costs by implementing workflow automation streamlining customer interactions.

Elevate and future-proof customer experience personalization with in-moment customer journeys, 24/7, tailored customer service, and real-time customer segmentation. By delivering continual, consistent, and exciting customer experiences and rewards, you can build brand stickiness that won’t be beat.

Perx can provide the lifestyle marketing and customer data platform you need and the tools to build customer experiences and rewards programs that will stand the test of time.

Download the ONESIAM / Perx partnership case study to learn more about how you can improve customer engagement and elevate your loyalty program through gamification.

CUSTOMER SUCCESS STORIES


Leveraging the Critical Stages of Customer Loyalty Marketing

Leveraging the Critical Stages of Customer Loyalty Marketing

Grace Alexander

MarTech Blogger | April 14, 2022


When does the work of customer loyalty building take place? For companies that have achieved best-in-class retention and customer experience, the process starts before someone has made a purchase and continues for as long as that consumer is interacting with your brand.

Starting early means you can gather the maximum amount of data on your prospective customers and continue presenting them with experiences that will delight them. This creates a positive feedback loop, as each time you deal with that individual, the interaction can be better tailored, utilizing all the data you’re collecting.

Defining the stages of interaction

Though customer loyalty marketing is an ongoing process, it doesn’t always proceed at the same speed. Rather, there are important points on the timeline. First, there’s the preliminary work that goes on before a consumer buys from you. Then, there are the everyday activities as they become part of your customer ecosystem. Finally, there are the outreach opportunities to keep people from disengaging from your brand.

With the right strategy and technology, your brand can master all these stages and create a loyal, ever-growing customer base to support your bottom line. By breaking down each of the three key phases of customer contact, as well as demonstrating how a lifestyle marketing platform can assist you at these moments, it’s possible to envision a better approach to loyalty marketing.

1. Focusing on pre-acquisition steps for loyalty and retention

Is it possible to build loyalty before a prospect has even become a customer? If you take a modern approach based on positive customer experiences, you’re well on your way to winning people over before their first purchases.

Pre-acquisition prep work to stream prospects into loyalty programs starts with customer engagement. By running the data on your prospective customers’ wants and needs — the components of their lifestyle — you can create offers that will match their deeply held long-term goals.

Once you’ve segmented your prospective audience based on your current customers’ profiles, it’s time to generate incentives and offers that will bring in business. These should involve no-strings-attached benefits for first-time engagements. Follow these gifts up with gamification and positive, enjoyable interactions and you’ve captured new customers for your lifestyle marketing ecosystem.

Gamification is a critical element, as these enjoyable and digital experiences have been proven to keep users more engaged. Gartner stated that gamification can boost both customer retention and new business acquisition.

Why use Perx to create your loyalty ecosystem?

Perx’s recently launched lifestyle marketing platform is the perfect technology tool for brands hoping to capture business through the power of customer experience. How does it work?

The Perx Lifestyle Marketing Platform enables brands to lead with engagement and not loyalty, innovate beyond their core business models and create monetizable lifestyle ecosystems around their closed-loop network of consumers, partners, and merchants. This approach not only allows brands globally to better address and solve customer lifestyle wants and needs but also builds a moat around those customers by drastically increasing brand touchpoints. With advanced gamification and campaign automation capabilities, hyper-personalized and instantly gratifying incentives, the platform has proven to be an effective enabler of the digital lifestyle ecosystems for enterprises and digital natives.

Anna Gong, Perx CEO and founder

2. Leveraging a customer loyalty program for first time and repeat buyers

Customer loyalty programs work best when they encourage consistent engagement between your audience and your brand. This means rewards and incentives should exceed the traditional “earn and burn” points model, which could leave consumers unable to accomplish anything worthwhile for long periods of time.

Personalization is key, as users are less likely to disengage from your ecosystem if you keep offering them meaningful incentives. Continuous engagement starts with the bonus you use to attract first-time buyers and proceeds from there, welcoming these consumers into your loyalty ecosystem.

Generation Z customers, growing up as digital natives, can be especially demanding when it comes to brand experiences. Give these young shoppers generic or non-engaging interaction and reward options and they may not pay attention.

How does the Perx platform bring customers from intake to loyalty?

The Perx lifestyle marketing platform supports consistent meaningful interactions designed to delight customers and keep them deeply engaged.

In our recent execution with Perx, we drove over a million customer actions, targeting a specific test segment, in just 100 days from the point of onboarding, and over 70% of them were actions that contributed to the top-line growth of the brands.

Stephanie Kubota, RUSH CEO

3. Rescuing customers from post-action disengagement with loyalty retention

After you’ve captured customers, you need to make sure they never have a reason to desert your ecosystem. What drives people away from companies? In short, the issue is negative experiences.

According to PricewaterhouseCoopers research, 59% of consumers in the U.S. will stop dealing with a brand they love if that company has given them several bad experiences. For 17% of customers, all it will take is one bad interaction to destroy the brand-client bond.

When your lifestyle marketing, customer experience and retention efforts are based around accurate, up-to-date data, you can adjust in real time to make sure you’re on the right track. If consumers are unhappy, you can detect the issue and respond right away. If they’re even becoming ambivalent, it may be time to offer up reminders of the rewards available.

How does the Perx platform help brands keep their customers loyal?

By using data to help companies build customer relationships around valuable, high-impact interactions, the Perx platform delivers consistent positive experiences.

Unlike other solutions, Perx’s Lifestyle Marketing Platform actually drives meaningful customer engagements and is built to digitally engage better. An outcome of that is more customer stickiness and real customer actions that contribute to the top-line.

Maneesh Verma, Starhub VP of customer lifecycle management

Customer Loyalty Marketing Enabled by Perx

When your brand wants to commit to every step of the customer journey, from pre-purchase offers to everyday interactions and churn-stopping outreach, Perx is the ideal platform for you.

Learn how the increased number of touchpoints and focus on continuous engagement can help our brand: watch a video overview or request a demo.

CUSTOMER SUCCESS STORIES

4 Ways to Leverage Customer Loyalty Rewards Programs During the Annual Post-Holiday Sales Slump

4 Ways to Leverage Customer Loyalty Rewards Programs During the Annual Post-Holiday Sales Slump

Grace Alexander

MarTech Blogger | January 19, 2022


The holidays are upon us, but the joy and excitement is dimmed a little for retailers, who know that after the high comes the low of the post-holiday sales slump.

While estimated holiday retail shopping by EOY 2021 is $1.147 trillion, it’s all too easy for brands to lose sight of the importance of customer experience once the holiday season has come and gone. Customer loyalty programs are perfect for boosting revenues in January and beyond, but you have to take the right approach and understand your customers psychologically.

Post-Holiday Spending Guilt Is Real – Exploit It!

Traditionally, retail spending takes a dive after Christmas sales as people see credit card bills coming due and promise to be more financially responsible. So they tighten their belts, resolve to save money, and feel good about purchasing through your loyalty program.

Some retailers may find it difficult to launch new campaigns in January. Once the holiday season is over, all of that large marketing money spent on attracting and maintaining clients to boost sales in November and December will be gone. So what will give you the best bang for your marketing buck? Focusing on your most loyal customers, of course.

4 Ways to Keep Customer Loyalty On Track in 2022
Stay connected with your customers

Use your customer loyalty program’s capabilities to keep customers engaged and active through carefully curated touchpoints and opportunities. Connect across different channels (in-app messaging, email) to keep the interest alive.

A study of 46,000 shoppers showed that customers who used 4+ channels spent 9% more in the store, on average, when compared to those who used just one channel. So by spreading your net wide, you can increase brand awareness and stickiness and customer retention during a time of year that typically sees a slowdown.

Support good spending habits

Use messaging that connects smart spending with saving — which customers can do if they are part of your loyalty rewards program! Around 95% of customers say trusting a company increases their loyalty, and 91% say their trust in a company makes them more likely to buy more frequently.

If your customers trust you and tell them you will help them spend smarter, they will believe you. So focus on messaging that reiterates how much they will save by staying active in your rewards program and keep this message consistent across all platforms and campaigns.

Tap into those New Year’s resolutions

If your brand supports common resolutions, leverage that in your customer rewards program by providing actions that customers can take that make them feel they are contributing towards that goal and rewards that also help support their mission. Consider after-Christmas holiday sales that focus on products that hit typical pain points, like health, fitness, and fiscal responsibility.

The failure rate for New Year’s resolutions is about 80%, and most lose their resolve by mid-February. Offering to help customers keep their resolutions can be a way to increase brand loyalty and participation in your rewards program. However, don’t stop there.

While you should make sure to congratulate your customers when they step up and do something good for themselves, if they quit, you don’t want them to feel judged. So make sure you tailor your program to prompt a feel-good reaction from customers even when they may fail at their New Year’s resolutions. Be ready to give them something else to focus on that prompts them to continue their journey with your brand.

Have a special rewards promotion in January

Spending spiked in January 2021 thanks to government stimulus checks in the United States, but typically January is a slow month for sales and a higher one for returns. However, you can find ways to leverage your best customers into coming back and spending more even during the holiday slump.

Odds are, customers using your loyalty rewards program racked up points with holiday spending. So offer to help them capitalize by providing extra perks like a free shipping coupon on purchases over $50 placed by January 31st.

How a Digital Loyalty Marketing Platform Can Help

How do you keep customers engaged with your brand in the post-Christmas sales slump? It’s crucial to prioritize customer experience through interaction even after the holidays are over. It’s never a bad time to work on your customer engagement methods, and while your competitors are slacking is a great opportunity.

The Perx Lifestyle Marketing Platform (LMP) makes it easier to maintain contact with customers after Christmas holiday sales are over by keeping the journey going through high-quality interactions and high-value rewards.

One of the newest features on Perx LMP is the ability to build and launch time-bound campaigns. So instead of simply having a 9-5 presence, your brand can precisely target consumers on a specific day, for a specific duration (or even during multiple time slots) on any given day of the week.

Find out when your most loyal customers are most eager to make a purchase and develop customized journeys for them that culminate in a reward that can be redeemed inside a tight window to create a sense of urgency and excitement. Target off-peak times, peak times, and any other time.

Using time-bound campaigns in January or any other time creates a lifestyle experience of engaging with your brand that can lead to even more trust and future engagement. Your customers are always “on”, and you too can be “on” and present for them with personalized micro-experiences that delight them and gamification that draws them in and keeps them constantly and consistently engaged.

Ready to start leveraging gamification and rewards to drive customer engagement in the months to come? Watch our video now to learn how Perx can help your brand barrel into the new year without missing a step.

CUSTOMER SUCCESS STORIES

The 5 Loyalty Rewards Program Engagement Tactics Your Customers and Brand Need This Holiday Season

The 5 Loyalty Rewards Program Engagement Tactics Your Customers and Brand Need This Holiday Season

Grace Alexander

MarTech Blogger | December 29, 2021


Is your loyalty rewards program going to deliver on expectations this holiday season — on both sides of the relationship?

5 Ways You Can Up Your Rewards Program Game
Reevaluate Your Scoring Systems

Many rewards programs are generic. They look, feel, and work the same – like a ledger that keeps a basic record of points earned and spent and does not really do anything else.

Take Starbucks: long known for their brand stickiness and impressive customer loyalty, the big brand took a belly flop back in 2016 when they decided to ditch their intuitive and straightforward 1 purchase = 1 star, and 12 stars = 1 coffee rewards program model.

They changed to a 2 stars per dollar spent-based model and required 125 stars to redeem a free coffee. This meant the average customer who liked regular coffee had to spend $62.50 instead of $48.00 to get their free cup of coffee, and the core customer base was enraged.

The coffee conglomerate took a while to recover but eventually added tiers to their rewards program, stopped stars from ever expiring, and added gamification and personalized rewards for loyal customers.

A simple scoring system is not enough, so it is time to learn a lesson from Starbucks’ stumble and recovery and learn how to truly engage with gamification and long-term relationship-building strategies.

Make Things Personal By Leveraging Customer Data

Customer loyalty and customer retention are inextricably linked, and big data and analytics are driving both — the importance of personalization in a good rewards program and tracking loyalty marketing metrics.

Customers that are actively engaged with brands and their loyalty programs make 90% more frequent purchases, spend 60% more in each transaction, and are five times more likely to choose the brand in the future.

You can use big data and analytics to ensure the rewards and opportunities offered to match a customer’s spending habits – whether they customarily spend on travel expenses, entertainment tickets, fine dining, or expensive electronics.

Perx’s rules engine makes all this possible by identifying the best incentive to drive consumer action, weaving the offer and experience into a seamless mobile-first journey, and surpassing customer expectations with experiences and rewards that fit their lifestyle.

Ensure Every Reward Is Exciting Enough to Be Memorable

38% of consumers are not interested in joining loyalty programs due to their lack of perceived value. People value their time, and they will opt out unless you make it worth their while to participate in your loyalty program. So, you must figure out how to keep them consistently looking for the next chance to participate and receive a reward.

Use gamification to keep them moving and plan “free” bonuses at intervals to prevent stagnation along the customer journey. Make every reward high-value enough to make it worth the customer’s time to engage with each touchpoint and remind them frequently about the bigger prize at the end of each segment of the journey while teasing the next round of experiences.

Double Down on Instant Gratification

Instant gratification resonates with consumers, particularly the millennial and Gen Z audience, and 45% of consumers say they will switch brands if a company does not actively anticipate their needs. These customers crave immediacy and have become fast adopters of click and collect, needing that hit happiness that comes from getting a reward.

Start your customer journey with actions and rewards that offer immediate gratification. Then, slowly build to longer experiences with bigger rewards at the end to increase trust and belief in your program’s value. Provide nudges and assistance in reaching goals to prove your loyalty to your customers is as strong as you want their brand loyalty to be.

Beat Out Your Competition By Going the Extra Mile

What is your competition doing? It is time to investigate. If they are offering a discount on a loan or an increased interest rate to members of their loyalty program, find a way to sweeten the deal with an extra, personalized reward on top of the main offering to differentiate yourself.

Brand Loyalty Programs Designed For Maximum Engagement

Capital One’s “Purchase Erasure” recognizes it can be easy to forget to use bank card-associated air mile points during an impulsive travel planning session. As a result, customers can submit air mile point-eligible travel purchases up to 90 days after the fact for reimbursement. This makes customers feel like their bank is sincere about benefiting from their earned points.

One of Asia’s top three banks needed a creative and efficient solution to increase overseas spending of their high-end credit card customers. Perx identified a segment of existing overseas customers who were credit card users with a higher propensity to spend and leveraged real-time analytics and valuable customer insights into immediate, impactful business decisions and outcomes. As a result, the bank reached out to 21,000 of their existing customer base and 91% of targeted customers engaged with the campaign. Over 500,000 Instant Rewards were delivered in real-time, including 10M KrisFlyer miles, and the campaign achieved $24M in incremental spend for the bank.

Bonus Tip: Make it EASY

Perx rewards program for another bank used stamps culminating in a free high-value prize, with a QR code scannable at any participating outlet to redeem the reward and even a scheduling option for picking up the reward, propelling the customer through that last-mile to achieve their reward.

Conclusion:

The Perx Lifestyle Marketing Platform (LMP) is ideal for brands looking to build real and meaningful relationships with their existing and prospective customers and create customer experiences that engage and excite them. Brands can use a digital loyalty marketing platform to drive meaningful behaviors that result in personalized rewards.

Read how Perx and Mambu teamed up to redefine core banking, drive last-mile customer engagements, and ask for a demo today.

CUSTOMER SUCCESS STORIES

Want To Be A Super Brand? Be Super Nice To Your Customer

Want To Be A Super Brand?
Be Super Nice To Your Customer

Sundeep Keramalu

Director, Marketing Content | December 21, 2021


The red light green light game killed 255 players in Netflix’s Squid Games. Players in the first game didn’t know what they were getting into. They didn’t have a chance other than to play the first game. But before the second game could begin, the contestants had a chance to back out from playing any more games. Some took that chance to walk out, and some remained. Then something interesting happened.

The players who opted to stop playing saw that getting out of the game had changed nothing. They were back to their miserable lives. In contrast, the players who wanted to continue playing had a chance of getting out of their misery. But when the ‘I-want-to-stop’ players got a second chance to return, they did. 93% of players returned. They knew that death was certain if they didn’t win a certain game. Yet this was them making an informed decision.

When your audience is desperate, and you give them what they are desperate for, they come. They come not for the love of you; they come for the love of what you are offering. And if you provide it enough, you might get them to fall in love with you.

Customers love brands that love their customers.

There is nothing taboo in brand-customer love. It needs to be the right kind of love, though. Nothing crazy. Nothing weird. The wrong type of love will chase them away.

Let me give you an example.

The 90s Bollywood movies worshipped this plot. So, the male lead stalks and harasses the unsuspecting female lead. He then tells her that he loves her and cannot live without her. He also tells her that if she says no, he will jump off a tall building or cut his wrist or jump in front of a speeding bus and die. When the female lead tells him point-blank that she is not interested in him, he thinks she is playing hard to get. He tries harder. He begins to harass her in every unimaginable way until she decides to give in. She decides to give in not because he has persuaded her to give it a shot. She decides to give in because she doesn’t have a way out of all the harassment.

78% of millennials are willing to switch to a company that offers better loyalty programs. Only products may not be sufficient to maintain customer loyalty. Customer experience over products has a better chance of drawing customers. Amazon sells products. But what it sells over products is convenience. The convenience of having the product delivered to your doorstep. Hassle-free. That convenience is a reward in itself.

Some brands don’t know where to draw the line. Some brands see where the line is, but they don’t know how to stop themselves from crossing it. The line between what brands can do and cannot do is thinning. At the same time, that very line is broadening. A brand’s motive behind pursuing a customer defines whether a line is thin or broad.

The line is thin for a brand that wants to listen to its customer before it can make an attempt to be heard.

Customers love brands that love their customers. But you know what customers love even more? Customers love brands that try to understand what their customers love.

Brands spend millions of dollars on product research. But they don’t spend even a quarter of it researching what their customers love.

Privacy regulations are getting tighter than strings in an action movie. But editors get to remove the strings in post-production. Likewise, brands can remove the strings attached to privacy concerns. And today, customers are willing to let brands remove those strings. All they expect in return are transparency and better offerings. And, of course, a little something for their efforts.

That’s fair, though, right?

That’s the beauty of zero-party data. You don’t have to stalk your customers. You don’t have to worry about getting caught with your hand in the damned cookie jar. No guesswork from tons of behavioral analytics!

Zero-party data is milk from the cow’s teat. As pure as they come.

I know a friend who shops on an e-commerce website for protein supplements. It seems three out of five times he placed an order, he got vouchers for baby food and baby diapers. He is single and doesn’t have kids. He told me he has never browsed anything related to “baby” stuff on the app. He stopped placing orders on the app and switched to another e-commerce company. He tells me he is happier with the second company for his protein supplements needs. This is despite the fact that the second company does not offer as high discounts as the first one. The second company offers him scratch cards with gym wear discounts. Now that is a company that understands him better.

Brands have an obligation to understand customers. When they don’t know what customers want, customers feel obligated to look elsewhere.

Offering an app alone with random discounts to unrelated products is not enough. Offering the right kind of products and rewards around the customer’s lifestyle matters.

Zero-party data doesn’t cost zero. It costs a lot more, but a lot less than one can imagine.

To get closer to customers, brands must pay attention to what customers are closer to. You can do that as easily as ABC with super-apps.

Super-apps are not blind rage. They are a meaningful rage designed to engage customers at every stage.

Take a look at what one of our clients is doing. Siam Piwat, Thailand’s leading mall operator, is revolutionizing the shopping experience.

They were ahead of the curve in reinventing their retail business. They are now pivoting to new business models through strategic partnerships. Perx Lifestyle Marketing Platform (LMP) will help co-create the transformational ONESIAMP SuperApp.

The super-app will build communities around customer interests. This will create effective marketing campaigns, promotional activities, and loyalty programs.

Super-apps are super effective when it comes to delighting and exceeding customer expectations. It’s a way to give them what they want in the way they want so you can get what you want — better data. And as you already know, data is the new oil!

Take a look at Tencent’s WeChat. It started as an empathetic messaging service. Soon, it was the “app for everything.” You could chat, pay, book tickets, open up a store – it gave the consumer the power — to do, create, and empower. In 2018, it was the ‘world’s largest standalone app’ with 1 billion monthly active users (MAU).

Super-apps may not bring down customer acquisition cost (CAC) to zero, but they can lower CAC. With the ability to cross-sell and upsell, you can make out like a bandit in the long run.

Perx Lifestyle Marketing Platform is a brand that helps you harness zero-party data. It can help you strengthen your bond with your customers.

You can immerse users, exhilarate them, and amplify connections in the evolving universes. Give the right rewards to your customers with our integrated advanced gamification elements. Hyper-personalize rewards that match customers’ lifestyles with rewards and merchants management. In short, Perx enables you to transform customers into super fans!

Want To Be A Super Brand? Be Super Nice To Your Customer

It all boils down to offering rewards that matter to your customers. When you do that, you can drive customer actions that matter to your brand.

CUSTOMER SUCCESS STORIES

The Road To A Brand’s Victory

The Road To A Brand’s Victory Is Paved With Small Wins For The Customer

The Road To A Brand’s Victory
Is Paved With Small Wins For The Customer

Sundeep Keramalu

Director, Marketing Content | December 16, 2021


You know I was thinking about what would be a wonderful approach to draft an article about gamification. I mean, isn’t it ironic? Gamification is the pinnacle of engaging someone in the way you want them to be involved in achieving a goal. And I am attempting to do so using a bunch of words. I will not deny it. This will be an arduous task. What say you? Allow me to open a fortune cookie and see what awaits me before I proceed. Let us see what my fortune cookie has to say.

Feed the ants in the anthill before you conquer Everest.

Yeah.

That was intense. Just the kind of motivation I needed. Thank you very much fortune cookie. I understand exactly what you mean!

If you want customer stickiness, you better not just have a glue gun, you got to own the whole damn glue factory!

Remember, you may have a fantastic product that offers excellent quality and unequaled convenience, and most importantly, a great value at a great price point. However, suppose you focus on all the fundamentals. In that case, you will ignore the “non-essentials,” such as customer engagement and retention, which, ironically, are the essentials that drive a brand’s growth and market share. It generates sales when you properly engage your customer. It boosts your brand’s visibility and loyalty. Above all, it helps with retention.

Existing customers are 60-70 percent likely to make a purchase. Unfortunately, the possibility of a sale with fresh prospects is only between 5% and 20%. As a result, customer retention and keeping your customers hooked are critical.

The Road To A Brand’s Victory Is Paved With Small Wins For The Customer

Nov 7-13 was #InternationalGamesWeek.

If you want a one-of-a-kind customer loyalty, you must give your customers a one-of-a-kind treatment.

When StarHub, a leading South-East Asian telecommunications company, wanted to cut through the competition in the post-pandemic market and make an impact on modern-day consumers, it went on a mission to build a unique one-of-a-kind digital rewards program for its customers.

To accomplish so, StarHub needed first to grasp the current trend, which saw a rising number of customers incorporating digital technology into their daily lives.

Second, StarHub is evolving from a telecom to a full-fledged digital life and digital services provider, offering customers the most rewarding connectivity, entertainment, and other lifestyle experiences, as well as innovative business solutions, all with seamless digital engagement at its core.

The Road To A Brand’s Victory Is Paved With Small Wins For The Customer

The Perx platform allows you to plan, customize and deploy campaigns on a whole new level.

Third, StarHub was aware that the telecom business had a high churn rate, despite telecom companies consistently offering attractive deals to entice new customers and retain existing customers. As a result, it was clear that it needed to address the significant issue of customer retention.

If you don’t want your brand’s growth to be static, you need to have a dynamic rewards program.

Once StarHub had finished understanding and analyzing their challenges, as well as having an unclouded vision of where they wanted to go, they partnered with Perx and established a dynamic rewards program, where customers could receive incentives digitally, seamlessly, and most importantly, instantly through the MyStarHub App.

When you transform a static customer-brand engagement strategy to a dynamic one, the journey of the end consumer is sprinkled with personalized rewards and gamified engagements that nudge actions along the way. As a result, making everything simple to absorb and digest for the end user is critical for customer adoption.

The Road To A Brand’s Victory Is Paved With Small Wins For The CustomerEvery Saturday from 9:00 a.m. to 3:00 p.m., customers could spin the Wheel of Treats for a chance to win at StarHub Snapping Saturday.

Consumers were divided into three membership tiers based on their minimum monthly spending:

Green (less than $200)

Gold (more than $200 for six months)

Platinum (more than $200 for six months)

Green members were given fewer chances to spin the Wheel of Treats, while gold and platinum members were given more chances.

What was the outcome of the treat wheel?

The Road To A Brand’s Victory Is Paved With Small Wins For The Customer
The customer received a star each time the treat wheel was spun. The stars were treats. With 20 stars, a customer could enjoy a pastry. If the customer liked pizza, he/she could collect a few stars and exchange them for a pizza.

If you want to shine like the brightest star, you need to make your customers feel like stars.

Perx made sure StarHub’s rewards were not solely based on instant gratification. In the reward configuration, Perx designed it so that StarHub could reward its customers on specific days and at specific times. The date-bound and time-bound rewarding mechanism included special days too such as birthdays, anniversaries, and festivals.

The gamified rewards were tailored to each customer segment’s lifestyle preferences.

Personalized rewards are a surefire way to win your customers’ hearts. For the first time, like your customers, your loyalty program (if it had a soul) would thank you for resurrecting it from being just a glorified bookkeeper of points to enabling it to actively engage with your customers. Customers are more likely to join your loyalty/rewards program and adopt your products or services if you offer incentives. For the customer, the more individualized the incentives are, the more appealing they are.

The Road To A Brand’s Victory Is Paved With Small Wins For The CustomerIf you want customers to adopt your brand, you need to adapt to their lifestyle choices.

According to Epsilon research, personalization increased purchase intent by 80%.

Brands must keep in mind that the notion of rewarding customers should not appear to be a charity or feel impersonal. Instead, by understanding your customers’ requirements and lifestyle preferences, you can customize your rewards to fit their lifestyles, and that is when you have a winning formula.

In the customer engagement space a winning strategy is measured by customer adoption. StarHub’s previous customer acquisition goal was to onboard 10% of existing StarHub Singapore households into the New Rewards Loyalty Program within 30 days of introduction.

With Perx, StarHub had surpassed its goal by more than 100%, onboarding 20% of StarHub households in 30 days. This figure has climbed from 20% to 50% of all StarHub Households in Singapore in a few months.

Thanks to Perx’s unique mix of next-generation in-app customer experiences, dynamic incentive-led campaigns, and injecting the concept of gamification into every last-mile customer connection on the MyStarHub App, 4,465,889 rewards have been issued to customers at the time of writing this article.

Even though the fortune cookie I had at the beginning of the story was imaginary, the fortune cookie remains one of the most impressive innovations. It could have simply been a regular cookie. But here is a cookie that can tell you your fortune. It is not like you are going to sue the cookie if what the cookie predicts doesn’t come true. It is the intention that counts. The cookie gives you something to look forward to when you are going to eat it. Isn’t that delightful? See? That is all you need to focus on. You must provide something that your clients are not anticipating. This is the essence of gamification. It is not some esoteric jargon. It may be something simple, effective, and beneficial for both the customer and you, the brand.

Customers have the power to make or break a brand. Even if you are a brand that is made, you will still have your milestones to achieve to get to the next stage. Whether you are a new or established brand, we must not make the mistake of assuming that a consumer will continue to pay for our goods regardless of how we treat them – which is to say, by not treating them. There is, quite frankly, no better way to reward your customers in this era driven by instant gratification and smartphones than through gamification. To put it another way, give them something to do that fits their lifestyle choices, and they will gladly pay for your goods even if they had the option to go with your competition. They win, you score.

CUSTOMER SUCCESS STORIES

How the World’s Most Popular Game Failed to Put a Smile on its Players’ Faces

make your customer smile

How the world’s most popular game failed to put a smile on its players’ faces

Sundeep Keramalu
Director, Marketing Content | October 01, 2021


The primary lockdowns in 2020 were hard for all of us. Numerous brands reinvented themselves and achieved extraordinary success. And some became extinct in a matter of days during this time. Then some outliers created solutions and products to capitalize on the possibilities and dominate the market in response to disruptions in consumers’ lifestyles.

What is the point of being tall if you are not going to make the people who made you tall sit on your shoulders and feel elevated?

Genshin Impact (GI), an action role-playing, free-to-play (F2P) game, having only launched in September 2020, profoundly affected the whole gaming industry. For a world that had been shut down, an open-world game appeared to be a faraway universe’s answer to a desperate cry from the heart.

GI became the only game in history to earn a billion dollars in just six months. The gamers were crazy about the game, and the game developers made sure their game was incredibly good to keep the players from getting enough of the game.

Each time it released a new character pack, the most obsessed players generated a cool $12 million (in a single day) in revenue for GI.

Everything in the GI universe was going fantastic, until GI decided to celebrate its first anniversary, at which point things became real… and ugly!

When brands re-energize their customer engagement strategy and loyalty initiatives by aligning them with the everyday life choices of their consumers, they increase retention and create superfans.

Fans of the game expected great prizes for their dedication on the game’s first anniversary. Instead, GI offered only a quarter of a gacha doll’s price. What is the point of being tall if you are not going to make the people who made you tall sit on your shoulders and feel elevated?

When players started complaining about the measly rewards from GI on the official forum, the game’s publisher deleted the complaints. This led to the players expressing their frustrations on the app’s review section on the Google Play store, plunging Genshin Impact’s score from 4.5 to a meagre 2.8.

If GI could have duly, appropriately, and timely rewarded its players, it might have deepened its emotional ties with them.

It is a terrible irony that a gaming company that excels in enticing players to purchase fantastical accessories and levels fails to amaze where it counts most – ensuring that hooked users stay hooked through meaningful engagement strategies.

Steps that could have kept GI on its exponential trajectory

If GI had implemented tailored rewards for its estimated three million users through gamification, it would have had happier players and not disappointed fans on its anniversary.

GI failed to go the extra mile. It was the occasion to make its players happy by circumventing the rules, adding extras, or offering contextual rewards for their in-game actions. If GI could have duly, appropriately, and timely rewarded its players, it might have deepened its emotional ties with them, transforming happy users to a loyal tribe.

Maintaining a transient and transactional relationship with customers is no longer sufficient. GI is no doubt an awesome game. However, did it perform admirably when it mattered? Not at all.

A brand is only ever truly happy when its customers are genuinely happy.

Never too late to course-correct your engagement strategy

Brands must go above and beyond to maintain meaningful engagement with customers, from the first to last touchpoint. This can happen through hyper-personalization, dynamic engagement mechanics, advanced gamification and focusing on data-in-motio