It may often be difficult to acquire new customers, but the matter of keeping them coming back is just as challenging for corporate marketers. Today, the big difference between apathetic and engaged customers lies in a company’s ability to present important value-adds to consumers’ experience with the brand. Without these offers rewards, it’s easy for a business to be lost amongst its peers. On the other hand, when enterprises provide their customers with unique and highly tailored rewards they will see how these initiatives can produce ongoing engagement organically.
It is imperative for marketers to develop creative and valuable strategies for enhancing incentive programs for many reasons. One of those is that consumers are faced with a wealth of options when it comes to choosing which organizations to use for their products and services. Adotas noted that according to research by Colloquy, consumer participation in loyalty and incentive programs is only growing, with 19 percent more Americans taking advantage of these offerings since 2007.
Adotas noted, however, that the rewards in themselves are not what produce engagement: In fact, ease of use can be an important aspect of value. The news provider noted that one successful program is restaurant chain Boloco, which provides rewards through its customized card. Customers simply use the tool to pay for their meals and when they reach a certain threshold, they’re rewarded with a free item of their choice. The reason it works to boost engagement isn’t just because something is being provided for free, but because it doesn’t require much extra work on the consumer’s part to take advantage of his or her benefits.
This trend of customers valuing simplicity in the incentives redemption process is pervasive. According to The Wise Marketer, Mintel discovered in a survey that nearly half (47 percent) of consumers are more likely to actively participate in a loyalty program if they are given opportunities to instantly redeem rewards.
Marketers can leverage this knowledge to put together a more engaging membership program. For instance, marketers should be sure that all rewards are redeemable with few extra steps, which eliminates any hassles. Additionally, consumers want to feel as if they are not just a number to their favorite brands, so utilizing highly customizable white-label solutions to develop a well-tailored incentive program will pay off. When a system is launched that demonstrates a company knows its target audience and has truly listened to determine what they want and need, the positive response will speak for itself.
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