This article explores the concept of whether loyalty can be (should be?) nurtured or engineered, or a mix of the two. Industry experts weigh in on the question, and we look at the different methods of creating a successful programme. Picture the scene – Our founder, Hadie and her family are off to New York on their jollies. They’ve got free plane tickets thanks to their long-standing loyalty to their credit card company.
*Joyalty A word I found in the book Brand Currency by Steve Susi. I loved it so much (for obvious reasons), I have borrowed it and redefined it to bring new meaning to loyalty programs and to inspire program managers to add a Joyalty* Program to their Loyalty Program! (For those brands who choose not to have a loyalty program, perhaps consider a Joyalty* Program instead).
“The most successful reward programmes adopt a hybrid physical/emotional model to build winning customer loyalty.” When it comes to modern loyalty programmes, brands are increasingly turning to soft benefits and engagement as their primary tool to maximise customer value. Brands and retailers are focusing on delivering soft benefits, such as service upgrades, exclusive access to experiences and high-value content to members. This is great news, especially considering that soft benefits often generate a deeper and longer-lasting sense of brand affiliation, compared to customer relationships built on a purely transactional basis.
On 24th October, we proudly launched our B2B white-label platform, suitable for both customer and employee reward schemes. End-users are sent a unique code that is swapped for an eGift of their choice from our catalogue of over 80 popular brands. Payment is only taken for eGifts that have actually been redeemed. We are pleased to have welcomed our first client on board, and to be in conversations with multiple others who are already using our standard Offerz proposition. By switching over to the new platform, these users will enjoy a more automated rewards experience.
It seems to me loyalty programs are going through a wave of popularity. In my view (yes confirmation bias exists here), some of the reasons I have been reflecting on, in no particular order are: 1. The ‘crumbling cookie’ and the urgency to gain zero- and first-party data 2. The rising cost of new customer acquisition and a swing towards investing in existing customer retention and growth
For years, Blackhawk Network has worked with NAPCO Research to take a comprehensive view of merchant gift card offerings, looking at both in-store and online experiences. By looking at what other top retailers are doing (and not doing), we help companies like yours see how your gift card program compares, and what you can do to make things better.
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