Loyalty schemes are becoming increasingly popular amongst consumers. It goes without saying that the rewards on offer are the decisive factor in whether someone joins a scheme. Organisers strive to surprise participants in their loyalty programmes at every turn, offering them bonuses for, amongst other things, their activity, length of membership or, above all, their purchases. For a loyalty programme to be successful, the organiser should research and analyse data on participants’ preferences and expectations regarding rewards, so that these are attractive and encourage greater engagement.
Effective rewards management
Creating an effective rewards system is the first step towards the success of any loyalty programme. Following an in-depth analysis of customers’ needs, the organiser will be able to select rewards that prove popular. However, an attractive rewards catalogue is not enough. Proper logistics for the rewards system are also essential, and these are often neglected. These days, loyalty programme members expect to receive their reward the very next day after ordering it. And if the rewards are in digital form (e.g. vouchers or digital content such as e-books), it is standard practice for them to be delivered within a few seconds of being ordered.
When putting the above into practice, introducing a virtual rewards catalogue proves to be a good solution. Creating a dedicated online platform turns out to be a real hit! Building a varied range of rewards will give consumers the freedom to choose the one that suits them best. This will enable every member of the loyalty programme to redeem their points for the reward they desire most. The measures described above will help strengthen the bond between the brand and the customer, as the customer will feel that the company is striving to meet their expectations in every respect, no matter how small. For all of you who do not wish to bear the costs of creating reward catalogues, we recommend taking advantage of the i360 offer, which provides dedicated reward platforms and integration with leading online shops, enabling participants to „pay with points” at leading e-shops.
Set up an online shop with prizes
A virtual rewards shop is the ideal solution for any organiser loyalty scheme. Introducing a wide range of rewards (both more affordable options and premium rewards) will satisfy every customer. A definite advantage is the choice available to participants. We are all different and have different expectations regarding the rewards on offer. This ensures that loyalty scheme members are aware that the organiser cares about its customers and strives to meet their expectations as best it can. Furthermore, offering attractive rewards is a powerful motivator for greater customer engagement within the loyalty programme.
How do you create the perfect rewards platform?
Setting up a virtual rewards shop is not as straightforward as it might seem. Firstly, the organisers should pay attention to the website’s design itself. It should be intuitive and easy to use for every user. It is worth grouping the prizes on offer according to specific parameters and categories, such as price range or type of prize. Of course, one must not forget about the shop’s visual design. Most consumers are put off using a platform if it looks outdated. It is therefore worth investing in good graphics, which will make the website visually appealing to customers and encourage them to explore its features. Another important issue is setting out the rules for redeeming points for a chosen reward. These rules should be easily accessible, and the terms and conditions should be written in a clear and simple manner so that every customer can understand them.
The range of rewards itself should be as varied as possible. It is worth ensuring that consumers have access to both cheaper and more expensive rewards. Rewards that are limited in number or available for a limited time are also very popular – this definitely fuels the desire to obtain them, acting as a strong incentive for increased purchasing activity.
Another way to add variety to a rewards scheme is to reduce the point value of individual rewards if they are not particularly popular. This simple psychological tactic will instinctively arouse the consumer’s interest in a discounted product – surely all of us have at some point fallen for such marketing ploys, which, as we can see, are extremely effective.
To add variety to the rewards catalogue, it is also worth introducing (in addition to physical rewards) virtual rewards, such as e-vouchers for a selected shop or BLIK vouchers, which consumers can exchange for cash. The latter suggestion seems to be the ideal solution, because despite an extensive range of rewards, there will always be a participant who won’t find anything to their liking. By providing a cash voucher that can be redeemed at selected ATM networks, we give participants the freedom to choose for themselves.
Summary
The main reason why consumers join a loyalty programme is the rewards and benefits they derive from taking part. It is therefore worth researching the market and analysing current consumer expectations regarding rewards. Creating a near-perfect rewards catalogue is the first step towards the success of any loyalty programme. It is also worth going a step further and setting up your own online shop or integrating with existing e-commerce platforms operating on a white-label basis.
How to prevent abuse in loyalty schemesManagement of promotional lotteries„Premium” loyalty schemes and paid membershipMethods of paying out cash prizes
