Incorporating auctions into your loyalty program is a unique way to add competition to your rewards offering (the benefits of which are numerous). Auctions provide a fun and eye-catching way for members to use their points. And importantly, they’re risk-free. If members are outbid, their points can be credited back to them. The payoff is big for the eventual winner, and the points burn can be high, which is good for your program.
We’ve developed a formula called HEARD....