Are you still waiting on investing in a loyalty program? The statistics say it’s time to go for it. The Nielsen Global Retail Loyalty Sentiment Report gives businesses across the world numerous reasons to recognize the value of having a loyalty program to increase your company’s success. If you don’t have a loyalty program now, you’ll wish you did by the end of the year. A good loyalty program will drive your customers to frequently visit your establishment or website and spend more with you during each of their visits.Beyond just revenue generated from a core program, with the information your program allows you to collect, you will be able to deliver relevant, targeted promotions to your most loyalty program customers, resulting in an additional sources of revenue. Looking at the Nielsen Global Retail Loyalty Sentiment Report (NGRLSR) we see that 72% of customers stated that they would rather buy from a retailer with a loyalty program over one who doesn’t offer one. 74% of loyalty program participants say they’re more likely to be repeat customers of companies that offer loyalty programs — Loyalty programs give businesses greater levels of customer retention. Customers are also more likely to spend more […]
Category: Rebates
7 Common Causes of Rebate Prepaid Card Program Failures
Rebate prepaid card programs are always a popular choice. Because they are both effective and popular, many industries try to set up these programs for their customer incentives. However, it can be a struggle for companies because they can easily make major errors that cause their card and reward programs to be inefficient and frustrating to customers. Take the example of a mail-in rebate of $40 on a $50 video game. Only $10 for the newest edition and you think to yourself, “I need that.” So you buy the game and mail in the rebate as quickly as you can. Months go by and you don’t receive your rebate check. You write letters and make calls, but no luck. There could be a thousand possible reasons the company didn’t send that check, but they’ve lost you as a customer. This is just one of many examples of a failed rebate program. To help you out, we’ve put together 7 of the most common reasons your rebate program can fail. There are many different strategies to begin a prepaid card rebate program. Is your system manual or automated? Is your only reason to use rebates for the breakage or slippage? Rebates […]
What Makes a rebate program profitable
Rebates are a great way of drawing in consumers and gives them a helpful way to save money through digital rebates, future credits, and different types of savings incentives. However, without the correct technology in place, rebate redemption becomes a challenge due to the elaborate process for your customers, and also for your employees. For maximum profitability get the right implementation, technology, and support, which will make your rebates an advantageous marketing tactic. Here are several of the factors that contribute to rebate program profitability. Rebate promotions companies will tell you that there are several legal guidelines and best practices for rebate programs. It is important to research before you start your rebate program and verify that you don’t revise the program rules after they’ve been published. The less confusing it is for your rebate program participants, the more they will like your program and recommend your organization to their friends. Make sure to utilize clear headings that your customers will comprehend. A lot of the data you require for your program can be found in the Federal Trade Commission Guidelines. Nonetheless, remember that one of the most basic issues in your rebate program is the reaction time. The Federal […]
Top 7 Reasons Your Prepaid Card Rebate Program is Weird
Prepaid card rebate programs are hot right now. Multiple industries are trying to set this program up for customer incentives because it actually works! However, companies are struggling because they are making crucial errors that make their card and reward inefficient and, frankly, a pain in their customer’s butts. Imagine a mail-in rebate of $50 on a $40 video game. Only $10 for the newest edition, and you think to yourself, “I need that.” So you write out a check and mail it in as quickly as you can. You mail it in and patiently wait. Months go by, you don’t receive your check, you’ve written those angry letters, but no luck. There could be hundreds of reasons the company didn’t send that check. But you’ll be sure to never do business with them again. Read on for 7 reasons why your prepaid card rebate program is failing. There are many different strategies to begin a prepaid card rebate program. Is your system manual or automated? Is your only reason to use rebates for the breakage or slippage? Rebates are an awesome way to generate new leads and sales, but the start-up cost of the soon-to-be-discounted price and the cost […]
