Driving loyalty: How point-of-sale rewards redemption attracts repeat customers
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NRF 2019: Retail's Big Show Malachi Bennett, Loyalty Partnerships, Retail Marketing North America, Shell Sara Elinson, Principal, Transaction Advisory Services, Ernst & Young Jeff Hassman, CMO, Fuel Rewards, Excentus Corp. Mladen Vladic, General Manager, Loyalty Services, FIS Global
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My presentation for the co-brand credit card conference in Atlanta, May 2017. Had the opportunity to talk to a great group of people about engagement with loyalty programs and how to stay competitive in a changing reward landscape.
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A survey of over 1,000 US consumers found that fuel savings ranked as the most preferred incentive for rewards programs. More than two-thirds of respondents said they would be willing to change brands or retailers to save 10 cents to $1 per gallon on gas. The survey also found that rewards programs that offer fuel savings see high levels of consumer participation and engagement, with 46% of members checking or redeeming rewards weekly or daily. Fuel savings were preferred over other common rewards like cash back, points programs, or discounts. The results suggest retailers should consider offering fuel savings incentives in their loyalty programs as a way to attract and engage customers.
TheRoadtoRewards
A survey of over 1,000 US consumers found that fuel savings ranked as the most preferred incentive for rewards programs. More than two-thirds of respondents said they would be willing to change brands or retailers to save 10 cents to $1 per gallon on gas. The survey also found that rewards programs offering fuel savings saw the highest levels of consumer activity and participation. Fuel incentives are appealing to consumers because it helps them save money on a necessity and free up funds for other household expenses.
Chris jacobs
A multi-partner coalition loyalty program allows retailers to pool resources and customers. It provides advantages like lower costs, a larger customer base, and more customer data. However, retailers lose some control and branding. The document discusses the key components of a coalition program, including how partners issue and redeem points, how the financial model works, and examples of existing programs around the world.
Oodles1card presentation
The document proposes the Oodles1Card as a solution to consolidate the average US household's memberships in 18 separate loyalty programs into a single card and website. This would help address the estimated $16 billion in unused loyalty points each year by making points easier for consumers to redeem across programs. The Oodles1Card aims to strengthen relationships between issuers, merchants, and consumers by integrating various loyalty programs onto a single platform.
Playing the Long Game: Revitalize Your Digital Marketing by Spending on the R...
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Presentation by Kristen Judd, CEO at 3 Birds Marketing at the Digital Dealer Conference on August 8th, 2016.Cashback Merchant Slideshow - Short Version
Join Cashback now: https://bit.ly/2QN2LEy
Visit www.CashbackTeacher.com to learn more
Cashback Merchant Slideshow - Short Version
Customer Loyalty program trends 2021
Customer loyalty is a customer's willingness to buy from or work with a brand again and again, and it's the result of a positive customer experience, customer satisfaction, and the value of the products or services the customer gets from the transaction.
Existing customers spend 67% more than new customers. In short, customer loyalty really pays off -- and customer loyalty programs end up paying for themselves.
Brands want to provide great customer service so customers will continue subscribing or purchasing. But customer loyalty is paramount to brands' success -- because loyal customers can grow business faster than sales and marketing.
Webinar: How Retailers are Using Loyalty Programs to Increase Per-Customer Re...
This document summarizes a webinar about how retailers can use loyalty programs to increase revenue from customers. It discusses why loyalty programs are important for driving revenue and retaining customers. A good loyalty program engages customers across multiple channels and offers membership tiers with attractive benefits. The document presents a case study of a nutrition supplements company that saw increased sales and engagement after implementing a loyalty program. It also briefly summarizes results from other loyalty programs. The webinar aims to demonstrate how loyalty programs can increase per-customer revenue by 2.4 times.
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Customers are necessary elements for the smooth running of the business. Loyal customers are the people who buy from you every time and who can break the business relationship with your company at any time. Creating loyalty among these customers is essential for the success of the business. There are many ways to create customer loyalty in which, the customer loyalty programs are one of the best methods.
A customer loyalty program is a reward system, in which customers are incentivized for their purchases. The reward system can make customers feel valued and encourage them to make frequent purchases from the brand which ultimately helps to build customer loyalty. For building customer loyalty, customer loyalty programs play an important role.
Businesses can use different types of loyalty programs such as earn and burn programs, tiered programs, perks programs, and more to build customer engagement. A hybrid loyalty program is a type of customer loyalty program that combine two or more loyalty programs for providing a remarkable experience to their customers.
2010 Rewards Breakout Session
To address declining sales and service traffic, and retain more customers who are keeping their cars longer, implementing a rewards club can help dealers grow their business. A good rewards club should be simple, effective, affordable, and regularly engage customers through communications to give them incentives to return. The proposed rewards club is designed specifically for auto dealers, with an online system that allows cashiers to easily enroll customers by swiping their rewards card and automatically loading credits onto the card to use on future purchases only at that dealer.
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A small percentage of premium guests in the hospitality industry represent a majority of the profit, especially for hotel, restaurant, transportation, and credit card companies. But, how does a company give consumers a compelling reason to choose and frequently return to a brand won via a true connection with the organization?
Moving beyond this repeat business and into true loyalty and brand advocacy is big business in hospitality and travel. The landscape of loyalty and customer expectations is evolving dramatically due to new customer segment needs, the complex and expensive financial structures of programs, the ubiquity of programs across industries, and the transformation and accessibility of technology and information. The question for companies is how can they win in the ever-growing loyalty war.
The question for customer is whether the program is worthwhile to join. And, the overall question for the industry is whether true loyalty exists. This course looks analytically and creatively at the future of these programs, including deep insights into the business, finance, and design of loyalty programs, consumer perspectives, partnerships, and marketing efforts.
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Pitch Deck Teardown: Super.com's $60M Series C deck
Super is a savings app with over 80 million users that offers savings on travel, shopping, cash back rewards, and credit building products. It is raising $60 million in Series C funding to expand its "super app" by adding more frequent savings opportunities in areas like gas, groceries, mobile plans, and insurance and building credit products to help lower income Americans spend less and access more of what life offers. The company aims to create a personalized experience within its super app based on each user's behavior and needs across various savings products from travel to cash back rewards.
Ikano White Paper - The Future of Loyalty
A survey of over 26,000 customers by loyalty program experts Ikano revealed three key trends for the future of loyalty programs: 1) 52% of respondents wanted a mobile app to replace their loyalty card due to the growing use of smartphones, 2) 34% wanted to use the app to manage their loyalty account information, and 3) 59% wanted to set their own communication preferences to receive only relevant offers. The survey findings suggest customers want more control and convenience through mobile apps to better serve their evolving needs.
Oodles1card investor presentation
This document summarizes a loyalty program called Oodles1Card. It states that the average US household belongs to 18 loyalty programs but $16 billion worth of rewards go unused each year. Oodles1Card aims to solve this problem by consolidating all loyalty memberships and points into one card and website for easy access and use. It argues that this could unleash spending power and benefit businesses. The solution proposed is a single card that stores all loyalty programs and a website to manage accounts and view coupons. Revenue would come from monthly fees for participating businesses and targeted coupons.
Vencorps Presentation
Change Round-Up is a for-profit company that provides a virtual "spare change" donation service at checkout to generate donations for charity while building customer loyalty and sales for merchants. The service asks customers if they want to round up their purchase total and donate the change to listed charities. Charities pay Change Round-Up 10-14% of donations as a fee for the service, which is free for merchants. Initial results show over 23% donation rates on average, with some women's sites seeing 65-70% of customers donating.
Lifecycle Marketing Series: Retention Campaigns & Personas
Learn more about key personas and retention campaigns to keep your most valuable customers, we'll cover everything from winning back churning customers to automating product replenishment campaigns.
Crm
This document provides an overview of customer relationship management (CRM) in retail. It discusses how CRM focuses on identifying and building loyalty with valuable customers. The goal is to develop a base of loyal customers who shop frequently. It then outlines the typical CRM process: [1] collecting customer data to build a database; [2] analyzing that data to identify target customer segments; [3] developing programs tailored to each segment, such as loyalty programs, personalized offers, and community building; [4] implementing those programs. Key aspects of CRM programs include incentivizing enrollment in loyalty programs, analyzing purchase patterns to determine customer lifetime value, and using data to convert less profitable customers or get rid of unprofitable ones.
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- 1. Driving Loyalty: How instant point-of-sale rewards redemption attracts repeat customers.
- 2. Driving Loyalty: How instant point-of-sale rewards redemption attracts repeat customers.
- 6. ○ 17.2 million members ○ >$1 billion saved by members since inception ○ 1.8 billion gallons annually National Loyalty Program ● Reward members for making purchases across our network of National, Regional & Local partners ● We provide depth of earn opportunities: ● Groceries ● Financial Services ● Telecom ● Automotive ● Online Shopping ● We help customers save money on fuel, using real-time rollback technology at the pump
- 7. The Power of Shell ● 13,000 retail fuel sites in the U.S. ● Within 5 miles of 85% of the population ● ~66 million customer visits per month ● #1 preferred brand in North America ● #1 major premium gasoline brand share ● #1 leader in loyalty alliances
- 8. Cents-per-gallon savings is a patented currency with universal appeal that serves as the point of differentiation for our customers. Increases value without discounting participating brands A meaningful reward with high value perception More than 63% of consumers will drive 5 minutes out of their way to save 5¢/gallon* *NACS sourced More than 75% of issued rewards are redeemed (highest known loyalty redemption rate bar none) The power of our currency
- 9. 26% of consumers shop more frequently at stores where they can earn rewards. Rewards that help consumers save on gasoline retain their top ranking as U.S. consumers’ preferred loyalty program currency year-over- year 37% of American consumers prefer to earn rewards that enable them to save on fuel — more than any other rewards currency. The average American consumer fills up 1.2x per week. Proven to generate a behavioral change in the customer A currency customers use frequently... High engagement with program members due to weekly interaction with the program
- 10. • Immediate fuel discounts is an impactful promotional currency • Loyalty rewards is a powerful tool to help any business • Increases foot traffic inside stores Recap: