This is where loyalty schemes come into their own, we know this from the never-ending catalogue of research that testifies their success in maintaining survival and promoting growth.
Heading into 2022, we predict loyalty schemes will continue to be a successful mechanism to achieving positive business outcomes.
So let’s get into it, what are the five loyalty scheme trends that we expect to see this year?
Gamification exposes an opportunity for brands to boost consumer engagement. Combining gamification with a loyalty programme provides incentives for consumers through rewards; these can vary from the opportunity of extra points post-purchase to leader boards/badges.
Through reinforcing positive behaviours, businesses can create a sense of community to aid brand advocacy.
Premium incentive schemes are based on one main idea: instant gratification. Unlike traditional reward schemes, premium programmes offer consumers the opportunity to skip the likes of building points and access the best benefits every single time.
It’s important to perceive premium schemes as a two-way street. Consumers will pay for a premium scheme, if – and only if – it is worthwhile, and hence the business has to provide rewards that are perceived as valuable.
The benefits of app-based incentive schemes are self-explanatory. The endless amount of analytics on offer is an exciting proposition, consider the potential consumer data your business could have access to. This can educate marketing campaigns, inspire product development and refine personalisation.
Business loyalty schemes and personalisation come hand in hand, this is because of the consumer data on offer. Businesses with active reward incentives can develop personalised offerings to their most profitable consumers, to promote positive brand perception. In essence, if consumers know that there are valuable rewards on offer that are personal to them, they’re more likely to onboard with that scheme over a generalised point system.
Loyalty schemes can provide an opportunity for consumers to feedback on certain aspects of the business, and what better feedback to gather than from those customers that know your business the best?
In-app feedback options also help to keep potential bad reviews off of online platforms or social media. Many incentive scheme apps have the ability to track purchases and ask for a rating/review; working to satisfy the innate consumer need to voice their frustrations, and allowing the business to deal with the issue quickly.
If having read the above, you’re keen to reward your consumer loyalty in a bid to boost brand advocacy, feedback, and of course, profitability then consider having a conversation with us. Call us on 0113 887 8620 or drop us an email at [email protected] and start 2022 off on the right track.