40.0% of customers want to earn more points in new ways.
This could very well be one of those market insights you pretend not to know about. Because if you did, you’d have to figure out new ways to give customers what they want, only for them to get rejected by Finance Mindy for increasing company liability.
But here are two reasons why this market insight is practically unignorable:
a. It’s going to help you create a differentiated loyalty program from your peers
b. You’re getting four actionable ways to use this insight, we daresay Finance Mindy will love and get on board with
Four ways to help your customers win points without raising your brand liability
1. Partner Engagement Pointsš§š½š¤š§
Award your customers points when they shop with your partner brands. This will bring your customers back to your brand to redeem their earned points. Bonus: you earn commissions for brand partner shopping (if it’s in your contract)
2. Pre-Sale Tier Pointsšļø
Most brands offer points post-shopping, making customer-brand interactions to be solely transactional.
Flip this interaction over its head and create exclusivity and goodwill by offering points before an upcoming sale. You could also award customers in a higher tier with more points.
3. Onboarding Step PointsšŖ
Get over joining bonuses and offer your customers points for every step they complete in their onboarding journey. You’ll also get your customers to actually complete onboarding, including reward preferences, email, and more, through gamification
You’ve heard of rewarding the principal user group member with points whenever a new member joins a user group. But you could also award points when a group member redeems their reward. You’ll delight your principal member and create a cycle of regular point redemption within a user group, lowering your liability.
And if you want even more control over how you distribute points, just use Advanced Points Capping from Capillary. Learn more here.
Bonus tip to increase point redemption frequency:
Add suggestions to redeem points within your marketing–emails, SMS, or in-app. For instance, say a customer earned 200 points. Show what they could get (personalize this) if they redeemed the points now. Even better if you add a direct link to redeem set points.
Have questions or queries? Reply to this email and we’ll get back to you.
- Helping you create delightful customer experiences always,
Team Capillary
