Lloydshare, which has been traditionally referred to as an annuity, has always been positioned as a financial vehicle linked to vacation club membership, which intends to repay the consumer their investment at the end of a fixed term. The business model remains the same, but the company has launched a new approach called Lloydshare Loyalty Repayment Plan.
The plan was created by Lloydshare´s Business Development Team led by Lindsey Western and Vicki Reindl, according to a release.
The word annuity, according to Lloydshare, has often been a confusing term to consumers. Due to pre-conceived ideas of SPDAs, CDs, life insurance plans, etc., the regular purchaser of a timeshare or vacation club has often had a hard time fully grasping the product´s identity.
“Loyalty means the state or quality of being faithful to commitments or obligations,” Western explained. “We are talking about devotion, constancy, allegiance, and fidelity, all of which imply a sense of devoted attachment to something or someone. Loyalty is the sentiment and the feeling that one holds for one’s country, creed, family, friends, etc., and in the case of the consumer, it refers to his or her loyalty to the vacation club or timeshare. If they remain loyal to their financial obligations with the club or timeshare, they will be rewarded in the future.”
Reindl added that these types of repayment plans are common in Europe and North America.
“Programs like the Lloydshare Loyalty Repayment Plan are structured marketing efforts that reward, and therefore encourage, loyal buying behavior–behavior that is potentially beneficial to the firm,” Reindl said.
Loyalty programs can be viewed as a form of centralized virtual currency, one with unidirectional cash flow since reward points can only be exchanged into goods or services.
The Lloydshare Loyalty Repayment Plan provides the consumer not with goods or service, but with a monetary payout. Lloydshare rewards the consumer for remaining faithful to his or her financial obligations to the vacation club or timeshare.
“We are confident that this will simplify the description of our product,” Reindl added. “What matters to us is that the client can identify the product immediately, that the message is clear, and that they are easily able to relate to what we provide.”
Branded as the world’s premier provider of vacation club-linked deferred annuities, Lloydshare has established an esteemed reputation with 52 host resorts in six different countries.