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 […]
Tag: 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 […]
The Power of Incentives in Building Relationships
Building loyalty among customers, employees, and partners is essential to business success, now more than ever. Incentives can be used to inspire loyalty and influence behaviors. Whether it’s experiential rewards, rebates, merchandise, e-rewards, such as e-gift cards, sweepstakes entries, or virtual gift cards, the right rewards for the right program can make all the difference. When building relationships with your customers, incentives increase brand loyalty and the likelihood of referrals. Loyal customers are 68% more likely to share your brand or business on social media if offered a reward for referrals and word-of-mouth marketing is important, even in our digital age. Referrals are one of the biggest strengths of developing a customer relationship. Offering referral incentives can help you gain those quality customers who talk about your company and it rewards them for spreading your business name. Merkle’s annual Loyalty Barometer Report found that points-based rewards programs are the most popular type of incentive program among consumers. Points-based incentives, particularly with rewards marketplaces are an excellent way to inspire customers. 85% of consumers surveyed for the report said they would like to be able to select the benefits and rewards they receive. This makes it important for companies to select […]
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 […]
Set Your Rebate Program Up For Success
Rebates are here to stay. Over 70% of Americans take advantage of rebates every year. Rebates are a clear favorite among all different kinds of companies, incentivizing purchases, encouraging desired behavior, and increasing brand advocacy. A good rebate program will include rebate management technology, easy rebate redemption, and a strong support system. Companies with effective rebate management are able to analyze program results, improve ROI, and eliminate overpayments. In order to ensure a successful rebate program, it is worth considering working with an established rebate program management service. Working with rebate program management experts allows companies to focus on their business, knowing their rebate program is in good hands. Rebate incentive program providers allow for long-term cost savings and efficiency, along with higher participant satisfaction and access to essential program technology. Additionally, rebate and fulfillment support service providers can help you navigate rebate laws and redemption rules. Rebate laws and redemption rules tend to vary from location to location, and local legislation may end up dictating the types of rebates you can offer. With Rebate experts on your side, like our team at All Digital Rewards, you will be able to ensure that the programs you need are implemented while […]
Increase Customer Loyalty Through Rebates
Looking for a more efficient way to increase customer loyalty and engagement with your brand? Rebates programs are an effective way to motivate your customers to use your products and services over your competitors. The challenge is, how do you create a rebate program that will fit both your budget and will motivate your customers? What are the most essential features in an effective rebate incentive program? An effective rebate program typically includes the following features: Your rebate program’s success is tied to the quality of your planning. Ask yourself: Who is your target audience? What are your goals for your program? What resources will be necessary to support your rebate program? All of these questions and more should be answered during the planning phase. All digital rewards offers a fully customizable solution for your rebate program technology needs. The right technology solution is essential to the success of your redemptions process. You want technology that will allow for easy redemption for your customers and quality analytics for you to use in evaluating the program’s success. Your customers want to be able to easily understand what they need to do to get their rebate. If you make it too difficult […]
How To Put A Fresh Spin On Your Marketing With Rebates
Just a few years ago, rebates used to be considered outdated marketing tactics, but with new technology and savvy consumers, rebates have become more popular than ever. Rebates are an effective way of drawing in customers and provides them with a helpful way to save money through digital rebates, future credits, and other types of savings incentives. The problem is, with the wrong system in place, rebate redemption is a complicated process for your customers, and also for your employees. However, with the right implementation, technology, and support, rebates can be an incredibly effective marketing tactic. Here are five elements that contribute to successful rebate programs. Follow Federal Trade Commission Guidelines and Best Practices Due to how long rebates have been being used in marketing campaigns, there are already numerous guidelines and best practices for your rebate campaigns. It is important to do your research before beginning your rebate processing promotions and make sure you don’t rewrite the program rules. Make sure to use clear instructions that your customers will understand. The easier it is for your customers, the more they will like your rebate program and advocate your brand to their peers. You will find much of the information […]
Use Rebates To Build Brand Advocacy
Are you considering a Rebates program? Rebates programs are a fantastic loyalty building tool when done right. Rebate programs show your customers that you want to engage in a customer relationship and want to give back to them. If you offer rebates, it will encourage your customers to become brand advocates, encouraging others to choose your brand over your competitors.Consumers are always looking for deals. A rebate offer will give the necessary push to convince a customer to choose your product over your competitors. Half of all major manufacturers and retailers use rebates as part of their normal product promotions and more the 70% of Americans take advantage of a rebate offer at least once every year. But how do you create an effective rebate program? There are several major elements that go into making a rebate program work effectively. You will need to understand the rebate laws and how they apply to what you want to promote. To avoid the challenges of keeping track of your offers, a centralized database of all information regarding the rebate offer will be important to your program. You will need clear, understandable, and easy to access redemption rules. Your process should be streamlined […]
Rewarding Loyalty With Rebate Incentives
Couponing has become a fine art, just look at all the blogs dedicated to clipping and saving. There’s Groupon, Not Your Grandma’s Coupon, and the Krazy Coupon Lady all vying to be the one to satiate our society’s enormous desire to save. These types of rewards are meant for those who go out and hunt for the savings, part of a $3 billion consumer savings on goods and services. However, in the last few years a new player has been added to the game: the “rebate” coupon (commonly referred to as next time or checkout coupon). This incentive rebate reward is given at checkout and is meant for the next time one shops or to be used within a certain time period at a later date. This delayed gratification rebate coupon has many advantages but to each, there are some drawbacks. For instance, are your clients going to feel their current purchase was worth it with the rebate coupon or will they feel they were shorted and would have wanted the monetary value attached to what they bought today instead of tomorrow? Rebate coupons are usually generated electronically, sometimes they are expected and sometimes they come off as a complete surprise […]
The Truth About Initiating a Consumer Incentive Program
Roughly 12 million Americans used a prepaid debit card at least once a month and collectively loaded $65 billion to them. Prepaid cards can be an awesome tool for many different people. They are safer than cash and remove the threat of overdraft fees and bounced checks. According to a recent market research study, 96 percent of users of respondents said the cards were useful, and 94 percent would recommend a reloadable prepaid card to someone else. Prepaid cards are the top customer incentive of 2015. So what are some key points for developing a successful consumer incentive program? Read on for the top seven qualities in prepaid debit cards. Cash management is… just that! An option for managing your cash flow. This allows customers to put how much money they want to spend on the card before they go purchase. This makes spending easier for families to watch their budget and possibly manage to spend for young children. Other options allow consumers to earn points from specific products they purchase, such as gas, clothing, or possibly even groceries. Event marketing is a huge industry that physically draws people in and gives them an actual experience. By hosting an event […]
Why eGift Cards are Making An Impact On Your Business
Incentive programs efficiently get new customers in the door and reach out to retain your loyal customers. There are roughly 2.5 billion loyalty memberships in the U.S. (Colloquy). Last year U.S. companies spent $76.9 billion on incentives and promotions, while $22.7 billion of that was spent solely on incentive and loyalty gift cards alone. It is safe to say that incentives work. However, when is the right time to implement an incentive rewards program into your marketing strategy for consumer promotions? Read on for the top incentive reward promotions. Incentives range from cards to rebates to giving physical gifts or even handing out cash. Incentives drive the customer to make a purchase, come in the store, or even share on social networking sites. Incentives drive company exposure, and that will drive your sales up. When thinking of incentives, virtual is typically better if your customers want immediate rewards and/or online fulfillment. Virtual rewards cost less and save time and confusion for the customer. Cash management is just that. Managing cash for the customer. When having an e-gift card, it is typically not reloadable. On the other hand, prepaid debit cards offer multiple options for putting more money on the card, thus, having […]
