Let’s face it, few of us make it from one year to the next without evolving in some way, so you can safely bet that, with advances in technology and pandemic-driven priority changes, your customers’ needs aren’t the same as they once were either. This means that a one-sized-fits-all rewards catalog, which may have been relevant with loyalty programs before, will likely no longer drive the engagement you seek for your business.
Today’s more astute and seasoned customer wants more than just a freebie, they want solutions to problems and a personalized acknowledgment that their custom, and your relationship, are valued.
This industry trend is consistent worldwide and, at Reward Paths, we’ve leveraged quality data insights to evolve our offering and deliver a range of fresh solutions that allow your business to offer genuine value through a personalized customer loyalty experience. And when we say fresh, we mean fresh. We’ve seen some serious out-of-the-box thinking going on. One of our clients recently gifted their customer NZ’s first locally-bred white schnauzer dog, another funded dental braces for their customer’s teenager, while others have helped customers cash in loyalty points for benefits such as a new jet boat, a wardrobe installation, landscaping, a spa pool, and university fees. You won’t find any of those rewards in an off-the-shelf catalog.
How relevant are you to your customers?
The more you can understand your customers’ drivers the more relevant you can become, and what better way to demonstrate your commitment and strengthen your relationship than with a reward that says ‘I get you.’ For this reason, personalization is top of the list in many of the latest loyalty strategies we’re helping our clients develop, and our Member Care experts are increasingly taking a ‘concierge’ approach to help our client’s customers find new ways to spend their points.
Unlike traditional loyalty benefits – these rewards don’t always equate to a tangible object. Some environmentally-driven customers want to use their points for the wider good, donating funds to local causes or charities. Others are opting for solutions, that allow them to access a huge range of discounts for both everyday essentials and luxuries, while some business owners are sharing loyalty rewards as a valuable talent retention tool for younger team members, to drive industry competitiveness. The beauty is in flexibility.
Here are some of the latest ways Reward Paths can help you drive customer engagement and business growth.
Bespoke Benefits
This is as personalized as it gets and is considered the ‘top-shelf’ option for driving engagement and relevance with your most loyal and sought-after customers. Our Member Care team can help you actualize almost any reward you can think of. Does your customer need a holiday? A home renovation? A driveway? How about a new vehicle? You are only limited by your imagination.
Auctions
With our Auctions solution, your customers can use credits earned through the program to bid on aspiring auction items.
Fundraising
Is your customer driven by causes and social responsibility? If so, perhaps they’d appreciate the opportunity to cash in loyalty points to make a meaningful donation. We have a range of fundraising initiatives that will entice any sustainability or community-minded customer.
Tenders
Our Tenders tool allows you to offer your own products at a discounted price using a ‘tender’ model. It’s a win-win solution that allows you to reduce dead stock, whilst rewarding loyal customers with access to special discounts no one else gets to know about.
Make a flexible loyalty program part of your strategic growth arsenal
A flexible loyalty program can be a powerful tool in your customer growth strategy, allowing you to maximize the perceived value of reward benefits and strengthen your customer connections through personalized benefits that acknowledge unique and important relationships.
At Reward Paths, we are specialists in loyalty strategies, with over 25 years of experience in helping companies grow. Get in touch today for a no-obligation appointment with one of our specialists and discover the true value of a modern and competitive loyalty program. Don’t delay this important growth opportunity.
