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

Amrith G.

SVP, Marketing & Customer Analytics | Nov 20, 2023

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 Loyalty and Engagement Platform 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.

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Jagriti Shreya

Business Strategy Lead | Oct 12, 2022Read More

Is your customer loyalty rewards program scalable?

Is your customer loyalty rewards program scalable?

Grace Alexander

MarTech Blogger | June 6, 2022

When you’re implementing a rewards program that will keep customers engaged and loyal, you should have one eye on the future. Rewards, perks and interaction methods that won’t scale up as your company grows can present problems in years to come.

To take consistent value from your rewards platform, it should be consistently enjoyable for customers to interact with. That should remain true even as your audience increases in size and individual customers remain with the business for years.

Prepare for success: Include scalability in your rewards

What happens when your company scales up, but its rewards don’t? This could apply to a few different issues, any of which could cause long-term problems for your ability to maintain customer engagement over time.

Rewards programs that are limited rather than scalable, offering only a few potential options for customers, may fail to stay engaging in the long term. These may be point-based systems with few redemption options, or ones that don’t allow loyal customers to ascend to higher tiers over time.

A company with a rewards program that doesn’t scale up may find that no matter how many new users join, old users are disengaging. This makes it difficult to build and maintain a solid and engaged customer base.

Leading companies are realizing the need to scale up their rewards programs and become more ambitious with their offerings, as McKinsey & Company reports. Rather than settling for standard, point-redemption schemes, these businesses are building whole ecosystems for their customers to engage with.

The gold standard of this style is Amazon Prime, which has consistently rolled out new exclusive content and experiences for customers, including streaming video, alongside the retail discounts that first attracted shoppers. This is a true lifestyle platform, where customers have dozens of touchpoints to choose from when reengaging with the company.

In the era of cloud software, scalability and flexibility have become universal watchwords. Companies know how important it is to always be able to add new functionality, quickly and without friction. This concept should apply to rewards and loyalty programs to ensure businesses never feel stuck with a limited set of options for their customers.

Integrate rewards with other systems

One of the most promising ways to ensure a rewards program is flexible, scalable and consistently engaging is to make sure it doesn’t sit in its own silo. Customers shouldn’t have to struggle to find and use loyalty features — they should be natural parts of other touchpoints, from branded mobile apps to the point of sale and beyond.

Brands today are pushing to become true omnichannel companies, blending brick-and-mortar operations with digital offerings that span multiple devices. When customers engage with these companies in any of these locations, they get consistent experiences, ideally including loyalty and retention program features.

As The Wise Marketer explains, modern loyalty programs thrive on automation and integration with other systems. This allows the customer engagement features to have a greater reach, incorporating multiple communication methods and connecting seamlessly with the company’s other software systems.

The integration between rewards platforms and other systems should be seamless. Every time a customer has to specifically seek out a loyalty program, that’s a chance for that user to disengage. On the other hand, strong integration means that as the company’s other systems scale up, the reach of the rewards program grows along.

Integration doesn’t have to be limited to a single business’s ecosystem. When a business strikes a deal with strategic partners to make loyalty programs interoperable, that creates a positive closed-loop ecosystem that encourages customers to keep engaging and gives them more opportunities to do so. This is a way for a business to expand rewards beyond its own bubble.

Make sure data flows both ways, to and from rewards programs

As customer loyalty programs scale up to reach more customers through more touchpoints and deliver a greater variety of options, there’s an opportunity to derive extra value: increased collection and use of data.

Today’s powerful business intelligence systems support real-time analysis of data to turn customer behavior into actionable insights. A customer loyalty program that has scaled up to reach consumers on multiple levels is not only a source of more data than ever before, it also includes more elements that can be tuned with the use of data-driven insights.

Data collected about the way customers interact with a business can be used to shape further loyalty program elements. McKinsey partner Jess Huang recommended using data generated by transactions and engagements to determine how consumers prefer to interact with the company, rather than building loyalty features based on intuition.

Applying that idea of data-driven design to scaling up a loyalty program means a company can create a self-reinforcing cycle. More touchpoints mean more data, which fuels analytics to recommend what form new touchpoints should take.

Use Perx to unite rewards with other programs

The technology platform you use to build your loyalty and rewards program can determine whether you’re able to smoothly scale up and expand capabilities over time. This is a reason to adopt the Perx lifestyle marketing platform as your loyalty management technology of choice.

Due to the integration between Perx and other omnichannel solutions, your rewards program will be able to expand alongside your operations. You can give customers a wide variety of touchpoints they’ll want to use, earning and redeeming benefits at multiple locations, from your app to the point of sale. These programs are appealing whether an individual deals with your brand online, in person or by switching between the channels.

A true lifestyle marketing approach reaches your customers where they are, delivering experiences and rewards they’ll actually be excited and delighted by. Even as your customer base grows and top customers create years-long relationships with your brand, you can keep expanding and customizing your program so it doesn’t become dull for your audience.

Perx supports complex integrations to make sure the platform “plays well” with your company’s other systems, making loyalty a natural part of your operations, no matter how much the business expands.

Request a demo to see how the technology could propel your business toward its loyalty objectives.

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5 Ways to Use Gamification with Customer Relationship Management

Grace Alexander

MarTech Blogger | June 6, 2022

Customer retention. New customer acquisition. Is the balancing act between these two aspects of business keeping you up at night? Figuring out the ideal amount to spend on each type of outreach is enough to give anyone a headache. Fortunately, modern technology and tactics can provide an answer.

Customer Acquisition vs. Retention: Which Side is Winning?

There’s an oft-cited statistic — coined by Bain & Co. fellow Fred Reicheld more than two decades ago and treated as a guiding principle ever since — that says a mere 5% retention increase could boost your profits by 25% or more. Add this to the fact that customer acquisition costs have recently risen approximately 60% over a period of five years and the answer seems clear: retention is the safe bet.

But where does that leave acquisition? It’s expensive and time-consuming to go for new business, but if your company cuts off funding for its efforts to attract new audiences, how will you grow?

Fortunately, there is an answer that serves both sides. A modern customer relationship management (CRM) approach, embracing gamification and data analytics, frees your company up to excel at customer acquisition while delivering powerful levels of retention.

Many companies fail to turn their CRM strategy into a retention tool or leverage it to help with customer acquisition. By building a functional and relevant program, you can differentiate yourself from these also-rans.

Up Your Game With a Newly Imagined, Dynamic CRM Approach

Improved CRM practices can take a few forms, all worth investigating. It’s important to note that making better use of customer relationship data isn’t an end unto itself. Rather, this is a way to target big, important business goals.

Retaining your customers at higher rates? That becomes easier when you’re making decisions based on data and analytics. Having more time, money and other resources free for acquisition? That’s what happens when your CRM approach is more focused and efficient.

As long as your business interacts with customers through a digital experience such as an app, you have data flowing in that can inform the future of your CRM strategy, as well as touchpoints where you can use tools such as gamification to please and engage your audience.

Consider the success of companies that have taken this approach with the Perx platform:

An 86% customer engagement rate.
225% user growth.
Outreach campaigns that are 320 times faster to set up and execute.

These types of transformations are in reach for businesses that commit to not just holding customer data but applying it to everyday interactions.

Some of the general effects of a dynamic approach to customer data include:

An opportunity to identify and nurture the most valuable communication channels.
A streamlined path for acquiring, onboarding and delighting new customers with dynamic experiences and rewards.
Deeper connections with existing customers, created by reaching them at multiple touchpoints, online and offline.
A higher volume — and quality — of customer interactions, improving lifetime value and promoting brand advocacy.
Better personalization of rewards, driving instant gratification, social virality and long-term loyalty.

Better CRM strategy, with all its inherent advantages, is at the core of customer retention. Now, to collect and use the data that powers this concept, you need a practical way to stay engaged in your customers’ lives and lifestyles. That’s where gamification comes in.

Playing the Right Hand to Win Your Customers’ Hearts: 5 Gamification Tips

Better CRM practices let you understand your customers’ lifestyles. You can uncover their particular interests, their unique differentiators and their wants and needs. While this would be a challenge in the more opaque world of analog business, data makes it possible. Gamification gives you a quick and practical way to use the resulting insights.

Your interactions with customers can evolve. Rather than dealing with a business, merely carrying out transactions, they’re doing something fun and compelling that boosts their serotonin.

Rewards programs are the perfect place to create gamified experiences that fit seamlessly into your customers’ lifestyles. When using your brand’s app feels immediately rewarding, your customers are well on their way to becoming enthusiastic arand advocates.

Here are five ways to launch a gamified customer interaction strategy in which everyone wins:

Focus on instant gratification: If customers have to wait too long to earn perks and bonuses they like, there’s a greater chance they’ll abandon your platform. Delight them right away with a user-friendly mobile experience and an introductory reward to get off to a strong start.
Create a continuous, exciting cycle of rewards: Legacy rewards programs tend to show a lot of user downtime. Customers earn a few points, and then they wait before logging back in to spend them at some later date. Offering more frequent interactions is an easy way to keep your brand top of mind.
Build the entire program around customer lifestyles: What do your customers do for fun? What do they value? What kinds of rewards and interactions excite them — and how do they share that excitement with friends and family? These are the questions that should guide interactions and reward design.
Make rewards personalized and meaningful: The more you know about each individual customer, the more closely you can align brand rewards with their interests. This is why improved CRM strategies are an essential building block for gamified customer interactions that really move the needle on retention.
Fully integrate gamified interactions: You don’t want to silo away your fun, engaging customer experience so only a small group of people can take advantage. Pushing this new data-driven interaction style to as many of your customers as possible creates a powerful loop of good experiences and rich data that fuels future personalization.

With such a strategy in place, your brand can hold onto your customers through consistently compelling experiences. Running these campaigns with a heavy dose of automation behind the scenes means they are more efficient and cost-effective than manual efforts and frees up resources for acquisition and other marketing strategies. Add this to the referrals and brand advocacy of your newly delighted customers, and it’s easy to see how retention and acquisition can exist side by side.

Want to know more? Read our case study to find out how Mambu and Perx used supercharged last-mile experiences to turn brand customers into superfans.

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How a Gamification Rewards Program Can Drive Employee Engagement and Retention

How a Gamification Rewards Program Can Drive Employee Engagement and Retention

Grace Alexander

MarTech Blogger | June 6, 2022

As an employer today, you’re likely thinking about how to engage and retain your employees. The balance of power is shifting somewhat, with workers suffering from burnout leaving their current jobs and taking their career paths into their own hands. It’s a big enough trend to get its own name: the Great Resignation.

Top performers departing: A real threat

According to Hays research, 61% of employees are considering leaving their jobs in 2022. That’s even more than the 51% who gave the same answer in 2021. This is an especially tricky time for companies to be losing so many employees, as 52% of employers told Hays they are struggling to fill open positions due to a lack of applicants.

Keeping your top-performing employees under such circumstances means rethinking your approach to rewards, benefits and everyday engagement. If your current solutions aren’t doing enough to hold workers’ attention, you need a new approach. But what form should this new strategy take?

Employee morale and gamification

As it happens, the key to employee engagement may prove to be very similar to customer engagement: Modern, data-driven rewards programs. By gamifying and personalizing the interactions between you and your employees, you can create a more enjoyable, rewarding workplace, where employees will be happy to stay.

Leaders typically know that recognition programs are a key component of retention. The Hays survey discovered that recognition schemes are the second-most-popular form of retention measure, with 42% of companies trying this avenue. The only strategy seeing more use is increasing communication at 43%.

With more than two-fifths of companies ramping up their recognition plans, one thing is clear: simply recognizing employee achievements is not enough to differentiate a business. To really stand out to your workers, you have to deliver a plan that suits their needs and preferences. This critical edge can come from enjoyable, gamified experiences.

The gamification edge

Gamification, the process of using game-like mechanics in non-game situations, is a common strategy for making experiences more fun and engaging. Why is it such a useful tool in reaching out to employees? It comes down to motivation.

Gamification’s focus on fun and enjoyable interactions makes it a natural match for programs that people will want to engage with. According to the Society for Human Resource Management, the competitive striving and reward-based structures associated with gamification are good motivators for employees.

Both private affirmation and public recognition of employee achievements can be important parts of gamified rewards programs. The SHRM noted that younger employees, millennials and members of Generation Z, are motivated by a need for recognition.

Indeed, the recommended reward types for employee engagement strategies look a lot like those associated with customer reward programs. In both cases, gamified experiences of interacting with company apps provide positive feedback for the person using the system, as well as social proof of their success.

More than leaderboards and badges

Another connection between customer rewards and employee rewards is the need for programs that will go beyond the baseline to create a connection with users. In the case of customer rewards, this means businesses should look beyond basic “earn and burn” point-spending programs. In the world of employee rewards, employers should move beyond genetic badges and accomplishment leaderboards.

Companies can reach this new level by building their gamified employee reward strategies around a lifestyle marketing platform, a more adaptable and data-driven form of technology. With such a responsive system, it’s possible to set up immediately gratifying rewards based on employees’ preferences.

With an advanced platform, your company can offer a variety of interactive features, putting your internal employee programs on the same level as industry-leading customer loyalty programs. This may mean creating a digital space for employees to communicate or receive feedback from leaders. It could also entail a marketplace for rewards and perks.

The key to crafting a gamified and personalized employee engagement strategy is to guide the deployment with data about your workers. No two companies will have the exact same ideal rewards scheme, because no two workforces are quite alike.

Psychological and cultural benefits of a gamified employee rewards program

Rewards and gamification can both have positive effects on the way employees think about their work and engage with companies, and when put together, the effects can combat the increasing rupture between workers and their employers.

Rewards can be designed to bring employees in line with a positive company culture. SHRM stated that employee rewards should be aligned with a company’s mission and organizational values, and should be integrated smoothly into employee life. A well-crafted program can tie rewards to events such as an employee demonstrating a commitment to company values, or having a positive effect on their coworkers’ morale. There can even be rewards attached to recruitment and retention, thanking workers for strengthening their teams.
Gamification is a tool that can make some of the most tricky elements of workers’ days into fun, or at least compelling, activities. Law Journal noted that, from encouraging employees to study new areas of competency to changing their behavior, human resources departments can tie some of their overall objectives to gamification. The serotonin rush of receiving a well-chosen reward can be a powerful incentive.

By combining carefully designed rewards strategies with well-integrated gamified elements, companies can become employers of choice, even at a time when employees are often searching for greener pastures. If your company’s rewards approach is outdated, or if you don’t have one at all, now is a great time to commit to an upgrade.

Employee engagement gamification: Powered by Perx

The connection between employee engagement and customer engagement becomes clear when you consider that the ideal tool for customer rewards — the Perx lifestyle marketing platform — is also perfect for use with your employees. All the features of a great customer retention program, from instantly gratifying app interactions to carefully selected reward choices, are useful tools for employee retention.

All of these capabilities are available through Perx. Learn more now!

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A Beginner’s Guide To Leveraging Brand Touchpoints With Gamification As Part Of An Ongoing Customer Experience

Grace Alexander

MarTech Blogger | June 6, 2022

Brand touchpoints give you the opportunity to interact with your customers and have them engage with your brand. Are you maximizing these opportunities or missing the chance to double down on positive customer experience? Gamification could be the missing link in your customer loyalty pipeline.

Are Your Customers a One-Way Ticket or Round Trip?

Every brand identifies touchpoints in a different way. However, all touchpoints can be shuffled into one of three categories:

Pre-purchase: All the interactions between brand and customer before the sale is made, including information gathering (including use of a knowledge base or automated chatbot), queries, requests for a price quote, consultations and demonstrations.

Purchase: The interactions of the brand with the customer during the sale, including laying out terms, upselling and cross-selling, discussions of subscriptions or automatic renewals, perks and introduction to a rewards program app.

Post-purchase: All the interactions between brand and customer after the sale has happened, including customer service, customer assistance, loyalty and rewards program interactions, repeat sales and referral/brand ambassador opportunities.

Many brands see this as a beginning-to-end linear journey that starts with pre-sales and ends at purchase, with a code of post-purchase interaction that may or may not happen.

This is a mistake. For optimal brand stickiness and customer retention, the customer journey should be cyclical, going from pre-sales to sale to post-sales and seamlessly entering the presales segment again.

Generating leads
Acquiring high-value customers
Converting one-time buyers to two-time buyers
Driving repeat category purchases
Reengaging disconnected customers
Reactivating lapsed customers
Conducting post-purchase surveys

Your customer loyalty program should cycle your customer right back to step one over and over.

Are You Targeting Or Using a Scatter Approach?

Many brand experiences are irregular, disconnected and fragmented.

Pre-sales touchpoints via offline channels such as direct mail, TV or radio advertising, or billboard usage, may be missing out on the opportunities provided by mobile-first contact. Purchasing may not be leveraged at all — a mistake since POS is actually one of the best times to drive the customer toward the next touchpoint.

Post-sales touchpoints may be sporadic and dependent on the customer reaching out, a reactive instead of proactive approach. McKinsey notes that some organizations have increased revenues by 30% or more by being proactive and reaching out to fulfill customer needs with the right offering at the right time.

Gamification can bridge the gap between touchpoints by creating an ongoing customer experience that doesn’t end just because of a purchase or reward redemption. It can also increase the number of touchpoints in each engagement segment to create a holistic customer journey underpinned by a seamless digital experience.

Are You Using a Can and String or Mobile to Reach Your Customers?

The importance, impact and significance of continuous mobile-first engagement cannot be overrated. Each digital experience allows customers to interact with you in real time, and is an opportunity to leverage your brand touchpoint and lay groundwork for the next engagement.

Mobile users are the ideal target market for a robust rewards program app. In January 2021, there were a reported 5.22 billion unique mobile users, making up 66.6% of the global population — an increase of more than 13% YoY.

Gamification fits perfectly into the natural inclinations of mobile users, meeting them in their environment of choice, feeding their need for instant gratification, and engaging them in exactly what they enjoy most. Mobile users spend nearly a third of their time on mobile devices playing games.

One out of four mobile apps are gaming apps, far ahead of the second place category, which is business apps (accounting for around one of ten apps.) If your company can bridge the gap between business and gaming, your app can become part of your customers’ daily lifestyle, something they check as naturally and frequently as they do Facebook or their email account.

Let’s Play a Phone Game: StarHub Case Study

Brands can improve customer loyalty and retention through the art of gamification. Perx partnered with a large telco and proved exactly how impactful our lifestyle marketing platform powered by gamification could be when it came to leveraging brand touchpoints for a never-ending customer experience journey.

Telco StarHub’s focus shifted from chasing customer loyalty to driving a change in customer behavior, pushing them to actively engage with the brand and its offering. The MyStarHub app, developed in partnership with Perx, combined both needs and wants of the customer by launching weekly recurring campaigns, powered by gamification mechanics and tactics.

This allowed the brand to stand out with continuous customer experiences in an era of sporadic and reactive customer-brand interactions, improving brand interaction and customer-stickiness. The in-app experience carried forward the tiered setup of the best traditional customer loyalty programs, and added new touchpoints and experiences for customers to engage with.

By pairing customer actions with instant rewards throughout a continuing gamified user journey, StarHub was able to benefit through reward redemption rates that easily exceeded earlier benchmarks, and easily superseded their own goal for customer adoption, which was set at 10% in the first 30 days:

30 days: 20% adoption
6 months: 40% adoption
8 months: nearly 50% adoption

90,000 rewards were redeemed monthly, reaching a total of 1.1 million by the end of the first 8 months. StarHub saw an increase of 25% in Monthly Active users post the launch of the powered loyalty program, as well as an 11% increase in new customer acquisition and a 6% YoY improvement in customer retention. Moreover, onboarded households interact with the telco’s app an average of 43 additional times compared to those not yet onboarded.

Interested in learning more about how the StarHub lifestyle, gamification and rewards program app powered by Perx boosted the telco to new heights of customer loyalty and engagement? Download the case study.

Want to know how Perx can elevate your own brand and empower your customers to join, participate in, and benefit from your rewards program app while driving revenues? Request a free demo from a customer experience specialist today.

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How a paid customer loyalty program generates value by changing customer behaviors

Grace Alexander

MarTech Blogger | June 6, 2022

They are the solid bedrock of your customer base, the ones keeping your revenue strong. These are your most loyal customers and the biggest spenders among your whole audience.

Rather than treating this elite group exactly the same as the rest of your customer base, you can deliver a premium experience that benefits consumers and company alike. This is where a paid loyalty program comes in, creating a cycle of positive interactions and increasing customer lifetime value.

The time is right for the kinds of more in-depth loyalty programs that come with paid subscriptions. McKinsey reported that the standard “earn and burn” point model is losing some of its appeal for customers. Despite this fact, 24% of companies still have basic rewards programs and 24% don’t have any loyalty scheme at all.

When a paid loyalty reward program makes sense

Almost any kind of company can put a subscription model in place, and this kind of effort almost always delivers results. Adding a paid option to a customer loyalty program is a way to “double dip.” You’re combining the reliable revenue of a subscription service to the engagement and positive brand experience of a rewards program.

There are two kinds of scenarios when this pairing is especially valuable, as described in a separate McKinsey study:

Funding premium rewards: When brands such as fitness clothing company Lululemon need ways to subsidize more involved and expensive perks for their most loyal customers, they can balance the books with a paid subscription program.
To create an ecosystem around customers: Subscription-based loyalty schemes are useful for businesses, such as pharmacies, that create long-lasting relationships with customers who always come back to the closest store with the most convenient hours. Since these buyers are committed to returning, they may be willing to contribute to more intensive paid rewards programs.

Once customers commit to entering such a paid program, they may engage more deeply with the brands than if there had been no fee. McKinsey’s researchers describe the effect as an “economic loyalty loop” where the shoppers now have a financial stake in staying with their chosen company.

But when does a paid loyalty program not make sense?

Of course, there are some cases when a standard loyalty program is perfectly acceptable as the only option. The McKinsey study suggested that brands should use paid loyalty to deliver new rewards they couldn’t deliver otherwise, and to stop high-value customers from leaving. If neither of those are relevant points, sticking with free loyalty for the time being could be a fine decision.

What kinds of companies can use a paid loyalty program platform?

As the difference between a clothing brand and a pharmacy chain demonstrates, there are no limits regarding which kinds of brands can create closer relationships with their customers through paid subscriptions and loyalty reward programs.

This effect can be felt across industries, including:

Hospitality and travel: Companies can offer positive experiences to their most loyal and committed customers, such as special deals, offers and bundles that fit their specific needs and history. Interacting with all-in-one travel companies through mobile apps is a way for customers to provide a rich stream of useful data that can shape future offers.
Entertainment: While standard perks such as discounts can be a factor in entertainment, the true value of a loyalty program may come from exclusive experiences. Consider premium video subscription services, where content is only available to paying customers. If they want to follow a show they have made an emotional connection with, people will have to keep paying.
Retail and food service: When selling premium experiences to customers at stores or restaurants, or even storefront banks and similar businesses, it can pay to go beyond a standard loyalty point system, especially for paying subscribers. These individuals are paying to get the best brand experience, so they should have constant ways to interact with the brand, potentially through mobile apps.

Building stronger emotional connections with a paid loyalty program

Connecting with paying loyalty customers through frequent contact and exclusive offers can give your brand a valuable type of bond: an emotional connection.

An Mblm study revealed which companies have an “intimate” emotional connection with their customers, and many of these major brands connect with their customers via subscription programs. Apple’s offerings such as Apple Music make it a part of users’ lifestyles, while the Disney+ subscription streaming service has put Disney directly into the homes of paying customers. Costco, running exclusively on paid membership, is also a strong performer in the loyalty space.

What do these top performers get for forging these connections? Mblm noted that its top 500 brands by intimacy outperformed the S&P 500 and Fortune 500 in both profit and stock prices, and virtually tied them in revenue.

Paid loyalty can provide a new revenue stream

When thinking about the endpoint of paid loyalty programs, it’s natural to wonder just how much businesses can earn from these offerings. To see the ultimate example of this phenomenon, you can look to one of the world’s biggest companies: Amazon.

The Prime program is a tier of loyalty rewards for the most committed Amazon shoppers, but it’s also more than that. It fits into those buyers’ lifestyles, especially through the connection with exclusive entertainment offerings via services such as Prime Video. People who want to watch a new streaming TV show they’ve heard their friends talking about may have to become Prime subscribers to do so.

So, what is the financial result of having this deep a connection, with such clear rewards for members in the form of discounts and exclusive content? The company makes an annual rate of $119 for each subscriber, $12.99 a month or $8.99 a month for Prime Video alone. Multiply that by the company’s declared subscriber base of 200 million people and you can see the financial power of customer loyalty.

Why is Perx the perfect technology to power customer loyalty?

Upgrading to a paid loyalty program based on high-quality gifts and premium, exclusive experiences is a big moment for a company. If customers aren’t thrilled by the offerings, they may decide against subscribing.

Your business needs the ultimate lifestyle marketing platform to power its subscription plan: You need Perx. Using data from customer interactions to power experiences that truly delight and engage shoppers, and keep them coming back for more, you can power a top-quality loyalty reward program with Perx.

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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 Loyalty and Engagement 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 Loyalty and Engagement Platform to see this solution in action.

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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 Pla tform.

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.

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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.

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