Why Rewards Programs?

Whether it’s to differentiate your brand or compete with rival programs, today’s marketers need to consider these programs within their marketing strategy mix.

Why Rewards Programs 3 - CarrotsPlus

Consumers Love Rewards

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roy-morgan
mastercard

Rewards programs are on the rise throughout different regions around the world. Consumers in mature rewards focused markets such a financial services, retail and aviation have developed an expectation of rewards in many purchase experiences.

Other growing industries such as online wagering, financial technology and commodity styled services such as electricity and insurance are leveraging this expectation from consumers by integrating sophisticated rewards programs.

Proven to Influence Customer Behaviour

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mastercard
forbes

Not only do rewards programs act as a value add to different brands, they impact the bottom by driving key business metrics.

Rewards programs are proven to influence customer behavior and, in many cases, enhance customer loyalty.

Rising Acquisition Costs

accenture
mastercard

Rising acquisition costs in the digital advertising landscape are putting a focus back onto retention.

Today’s brands need to reduce customer churn and focus on leveraging their existing relationship with clients as much as possible.

 

Industries & Rewards

Take a look at some industry examples including where rewards programs are being utilized currently, and where the growth areas are for the markets. Brands in highly competitive market places can leverage rewards to not only differentiate their brand, but influence customer purchasing decisions.