This article is based on the recent CrowdTwist White Paper, ‘Rethink Loyalty: How Points for Action Drives Engagement & Incremental Sales.’ Click here to download the White Paper.
For any brand with an existing loyalty program, the challenge of retaining customers is greater than ever before. Consumers in 2014 are detectives of their own making: they have access to product information, offers, and online reviews, possess the inquisitive nature to get the scoop on best deals, and will relay their findings to others.
Traditional loyalty programs that only award points for dollars spent have plateaued. When many loyalty programs ask for money but give non-monetary rewards, shouldn’t they allow customers non-monetary means for earning rewards?
Points for Action is a fresh loyalty strategy that accomplishes this, and aims to incentivize and reward consumers for engaging with brands across all channels to build the customer relationship. In turn, this engagement has lasting long-term power to turn a one-time transaction into a perpetual experience.
Studies show that consumers are using more channels to interact with brands, sometimes via six or more channels. Points for Action leverages this consumer behavior, and offers rewards at an earlier point in the purchase cycle, in order to accelerate the time it takes to build brand loyalty.
Examples of ways to earn Points for Action rewards include social media sharing, newsletter sign-up, referrals, email opens, website visits, video views, use of hashtags, and more.
For more information, download CrowdTwist’s latest white paper here.