Has your sales incentive program turned to loyalty rewards yet? Are you finding that you have good engagement from your channel partners with your current channel sales incentive program? Does your sales promotions need deeper engagement and a more personalized contact to drive loyalty? Or are you still using mass blast communications and gimmicks? If so, it’s time to look at a new way to expand on your current direct sales marketing and create a whole new way to excite and pique the interest of your sales channel. An excellent way to promote new engagement is by mixing it up with your reward program. Studies have shown that the people in your rewards programs are the ones who make the best and most profitable customers.* So, why not reward those sales’ teams that have been in the program longest or participated the most with a loyalty program that makes them happy and mixes up the rewards to provoke new interest and allegiance! A mixed arrangement regularly gives a truly necessary fit between the business prerequisites, spending plan, and reclamation strategy. Normally the way of the venture dictates if a physical offer piece or an electronic code that is dispersed […]
Category: Loyalty Management
Loyalty Program Software Comparisons
There sits your sales team. They’re on the phone or in front of a customer, ready to land that big deal. You rely on these people to play an integral role in bringing your products and services to market through a dealer network. But how much does your team know about current offers on the products and services they sell? How do you move special offers through your partner channel to satisfy the objectives of key stakeholders and still rouse your sales team and dealer network? To start with, recognize this is a challenge for any sales channel strategy plan. A channel sales strategy should energize loyalty engagement to spur a business drive to change behavior or, if nothing else, manage them in a specific course of action from educating your partner network about your products and services to helping your sales team close more deals, with you all the while managing the results is real-time. Then again, the loyalty program additionally needs to fit inside a company’s financial constraints and not cause costs that counterbalances the advantage of the channel sales incentive program. A key question for you to consider when developing your strategy is what type of a […]
Loyalty Reward Card Program Management Software Comparisons
When one thinks about loyalty in the business world, the chances are high that a customer loyalty reward card or incentive program comes to mind. Furthermore, it’s usually delivered through a points-based system in which customers can receive points in exchange for spending their time taking surveys, meeting sales goals, buying products and a myriad of other reasons. These points act as a virtual currency that can be redeemed for Digital rewards, VISA prepaid reward cards, gift cards, travel and merchandise usually after a certain predetermined behavioral objective has been reached. When researching and making loyalty card program comparisons, one can quickly realize that this market is rapidly changing. A comparison of what different companies offer can help narrow the field to know what is the best and the process starts with understanding the intricacies of the methodology used in the loyalty program software. For instance, is it better to have a pin for a virtual prepaid debit card or a physical prepaid reward card? Also, what is the software being used and how can you implement into your current system or should you start with a whole new software approach? While online interactions are driving many of the new […]
Visa® Prepaid Card Can Benefit Your Bottom Line
Visa® prepaid incentive cards can help your company drive efficiency and lower costs. If you are currently using checks to reward your customers imagine being able to save thousands of hours in processing time and lowering costs by more than 30%. You will also decrease the payment and delivery time thus making your clients happier so they will return and be your advocate. […]
Picture Your Amazing Loyalty Card Promotions On Top
Customer Loyalty Card Promotions have changed dramatically within the last few years. While it is obvious that innovative customer card programs help businesses drive sales and revenue, choosing those cards that are engaging enough is still a mystery. Marketers often think about questions such as, what will bring your customers in? And, what actions need to happen once they have a foot in your door? One of the top customer loyalty promotions is loyalty card incentives and payment promotions. Payment promotions are different and unique ways to pay for items. Imagine your customer quickly paying with the swipe of their mobile device or even within your site based on earned points and funds. Businesses often give coupons and money back to loyal customers. Imagine taking that digital. It would spread like wildfire. Read on for the top three loyalty promotions of 2016. Prepaid promotions are, currently, the most common customer engagement incentive used in the U.S. Businesses can put their logo on the card and hand them out as they please because this is not a credit card. Prepaid cards are loadable by the customer and help with budgeted spending and quick and easy payments. Mobile payments are the payments […]
Quick Way To Solve Problems with Reward and Recognition Programs
Building loyalty with 5% more customers would lead to an increased average profit per customer of between 25% and 100% (The Loyalty Effect). Rewards and recognition are the tools to build that customer (and employee) loyalty. “Fully engaged” customers (those with a strong attachment to the brand or brand ambassadors) deliver a 23% premium over the average customer in market share of wallet, profitability, and revenue (Cap Gemini). Now, all of this is wonderful information. But, where do you bring this into play? How does your brand build customer loyalty with rewards and recognition? Read on for the 6 types of successful rewards and recognition using prepaid debit cards. Firstly, let’s discuss the successful use of prepaid cards in brand holiday buying. Oftentimes, you can’t walk into a store without them stating, “Sign up for our card today and save 40% on your purchase!” Although this tactic is used across the board, it typically works. People are willing to come into the store and purchase more for their money-especially if they can save on their year-end gifts. Next, there are multiple options for establishing rebate programs or even refunds options for coupons or membership qualities from that branded prepaid debit […]
Customer Loyalty – Royal Equals Loyal
Your participants (customers, end users, members, consumers, or respondents) are looking for perks—an extra benefit for staying with you. Put simply, your participants’ benefits can make all the difference in the success of your organization. If you want to acquire, retain and engage your participants, you must offer value-added benefits that are relevant. You need to offer real value so they welcome your continued contact. Our team encourages thinking beyond demographics and includes attributes such as interests, lifestyles, and life stages. Innovation, differentiation, relevance and making an emotional connection with your participants are essential to program requirements to help your loyalty program stand apart in a crowded market. Loyalty is a composite of a number of qualities. It is driven by participant satisfaction and involves a determination by the participant to make a sustained investment. It is reflected by a willingness to recommend the organization to others and a commitment to the organization demonstrated by a resistance to switching. (Prus and Randall, 1995). Participants, at different stages of loyalty, will demand differentiated intangible offerings such as the level of service (Palmer et al., 2000; Knox and Walker, 2001; Rowley, 2005). It is an accepted fact that loyalty is a function of […]
Find Out Now, What Should You Do For Fast Engagement Online?
People are engaging in products and services more than they ever have. What is the number one site people visit if they have a question? Google! Companies struggle to engage these active consumers and reach out on the multiple platforms available. So, the real question is, how do you engage users online when you don’t know where they are looking? Read on for ADR’s tips to engage online. First off, know your audience. Who are you trying to reach? Can you narrow your search to a specific niche? What websites or social media sites are they on? For example, if you sell a baby product, will you market to the mother or the father? Then, where do you advertise? Facebook, Twitter, a blog? If you can narrow your search and specify the audience you will have a niche market that is easier for you to engage. Secondly, how do you plan to attract your audience? You can’t simply offer products and hope that people online will buy. There is heavy competition for whatever product you offer. Develop a content strategy. A content strategy is a plan that involves engaging consumers by providing them with your unique information or entertainment. Examples […]
Who Else Wants To Be Successful With Millennials?
Millennials are now 20 to 37 years old. There are roughly 78.6 million people in Generation Y. Nine out of 10 expect to match or exceed their parent’s economic circumstances. And, virtually all expect to own a home. A perfect target for marketers. But how do you target this group? To even begin to understand this, you must look at Gen Y’s reasons for loyalty, different perspectives, different research methods, and reasons for purchase. Millennials are different from baby boomers and they have to be targeted as such if you expect them to purchase your product. Generation Y is so ingrained on the idea of connectedness. Think about it, social media, email, and the smartphone keeps users in contact with the world nearly anytime and everywhere. Companies can learn from this through customer service. What are you doing now that connects to Generation Y. Marketing now is all about how you make them feel. Create a relationship with your customers and you will see your business grow. The members of Generation Y are superhumanly efficient. They have learned to work, play, and do some activities on the side. They realize that they do not have to live in a city to […]
How to Earn Customers Back After a Poor Experience
Poor customer experiences (CX) are detrimental to a company’s reputation and sales. There is hope thanks to a new customer experience survey from the SDL. This study consisted of a survey of 2,784 consumers across nine countries and three generations, asking them about their most major CX failure in the last 10 years. In the survey, 82% of customers who experienced a “worst CX” said they are interested in fixing the problem. Initial reasons for switching companies were a loss of trust in the company (44%), a poor quality of customer service (72%), and customer service representatives’ lack of knowledge (36%). This new research shows that 8 out of 10 respondents who switched stated that their previous service provider could have done something that would have kept them as a customer. After a bad CX, 64% of customers will stop recommending the organization, start looking for an alternative, or actively disparage the company via word of mouth/social media. This truly brings into play, “The good is expected but, the bad will go viral.” The study offered tips to regain the loyalty of those lost customers. The participants ranked the following actions in order of importance to the customer after a […]
