Loyalty and Reward System
A Loyalty and Reward System are supposed to unlock great value for companies by driving higher sales and boosting brand affinity but with the increased digital space Retailers have access to copious amounts of information at their fingertips in today’s digital age. Technology has enabled them to find the best deals and bargains effortlessly, thus causing them to jump from one brand to another, whenever it fits their budget.
What are Retailers looking for in a loyalty program?
Retailers are seeking benefits that come in various tiers. The most basic tier is the benefits that are relevant to individual retailers. The next tier is to create experiences that will incentivize them to become a “priority” member. Retailers want to know if they will be treated differently if they fall within the high-tier of a loyalty program or get better rewards
The role of digital and apps
Besides offering a good retailer experience, brands have also gone digital by launching mobile applications to improve convenience and accommodate the needs of retailers but since every company are increasingly launching apps, marketers need to find a way to differentiate themselves and enhance retailer experience on existing applications without launching new application. This is exact experience
The Soft Redeem and Reward Marketing Strategy is a loyalty system that helps business partners or retailers to redeem and claim real rewards based on the points accumulated or get instant rewards based on value of coupon redeemed. Different from other redeem and reward systems, participating retailers can actually make claim rewards on a real time basis. Based on a negotiated brand strengthening any two or more supporting brands could offer a range of merchandise that can be available for claiming by the retailers