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Brands often wonder how to measure the success of a loyalty program. That is one question that has been answered convincingly by officials at the Excentus Corporation. Since 2012, Fuel Rewards, Excentus’ Shell-based loyalty program, has saved almost five million members more than half a billion dollars on gasoline.
“We’re confident this $500 million milestone is a sign of continued growth for our retail participants and for millions of American consumers who enjoy saving money on fuel so they can spend more on life,” Brandon Logsdon, president and CEO of Excentus Corp. said in a release.
As a strategy for customer engagement, this remarkable achievement proves just how effective loyalty programs can be, especially when the rewards are significantly meaningful to consumers. And in this case, fuel is an ideal “reward currency” because it is an everyday necessity for most Americans.
Fuel Rewards works by allowing members to earn points every time they spend money within a vast national network of participating businesses including more than 10,000 restaurants, 1,400 stores, and 700 online retailers. Members then exchange those points for fuel discounts at more than 11,000 Shell and a few additional gas stations across the country.
“In less than three years, we’ve proven the value of our loyalty program, which rewards consumers with a universal currency when they shop for everyday items at their favorite brands, retailers, restaurants and stores by helping them save money on a necessary commodity -- fuel,” Logsdon added.
In this way, Fuel Rewards actually transcends the boundaries of traditional rewards platforms by acting as a coalition loyalty program. Instead of forcing consumers to maintain a singular brand loyalty, Fuel Rewards encourages customer engagement with multiple retailors across numerous industries by allowing them to rely on their natural spending habits to collect points.
This has allowed Fuel Rewards to become so successful that even low gas prices have not detracted members from cashing in their fuel points.
“Regardless of marketplace fluctuations in the price of gas, what consumer doesn’t enjoy saving money every time they fill up at the pump?” Logsdon said.
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