Why Rewards Programs?

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

 

 

Why Rewards Programs 3 - CarrotsPlus

Consumers Love Rewards

nielsen smaller
roy-morgan
mastercard

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, fintech 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

accenture
mastercard
forbes

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

Rewards influence repeat purchase and retention as well as drive specific actions that drive underlying revenue: completing applications, reading content, trying to new products.

Rising Acquisition Costs

accenture
mastercard

Rising acquisition costs in the digital advertising landscape have put 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.