&Open Sep 08, 2020
We’re moving away from transactional loyalty programmes and toward a more empathetic future of business.
We’ve long lived with the transactional loyalty programme. They’ve been mutating since coupons in supermarkets took off in the early 1900s. Today, most are digitized. Most are complicated. Most begin well, with an exciting offer or reward premise, and then see a drop-off in engagement when people realise that getting the reward is going to be hard work.
96% (of millennials) say companies should find new ways to reward loyal customers
People don’t want to have to work for rewards (especially millennials). So learning how to reward customers properly and proportionally to their worth, and institutionalising that within a business is where the future lies. Customers are smart, they know the alternatives on offer and they know there might be other brands out there willing to work harder for their business.
Rewarding customers for their loyalty is one of the most exciting and important prospects for a brand today. Done well, it can create true brand loyalists. The difference in ROI is surmountable. The same works for regular gift-giving. Sure, your birthday and Christmas presents are great, but what about the gifts that come when you’re least expecting them, they’re the best. They’re the most memorable.
61% of all respondents said the most important way a brand can interact with them is to surprise them and reward them just for being a good customer
The loyalty barometer Report 2019
The questions you have to ask yourself are: could your rewards be better received? Could your rewards be better? The better the reward, the more chance it has of creating that delight that is so crucial to creating lasting loyalty and brand affinity.
All statistics point to the modern customer becoming more brand affectionate and loyal when they’re surprised with a reward than when they work for it. We create memorable surprises for customers in the form of gifts. If you are ready to delight your customers, send us a message, we’ll let you in on a few secrets.