Our post starts with a look at airline plans for revenue-based loyalty programs in 2018. A study by HelloWorld shows 64% of consumers still like earning points for products but the path to purchase changes how merchants must build better loyalty programs. Startup Benebit plans to convert loyalty and rewards points across programs into single currency using blockchain technology. Skyword looks at strategies to enhance loyalty with the most important people in your program – brand loyalists. Finally, we’ve got a look at how mobile wallets could be an important part of loyalty programs in the future.
Lufthansa Joins EU Carriers in Adopting Spend-Based Loyalty Program
Just a month after Air France-KLM and British Airways set forth plans to launch revenue-based loyalty programs in 2018, Miles and More, the program employed by Lufthansa, Austrian, Swiss, Eurowings, and Brussels Airlines, is unveiling similar plans. Beginning on March 12th of 2018, members of Miles and More will earn award miles based on how much each ticket costs. General members of the loyalty program will earn four points for each euro spent, while higher tiers up to super-elite travelers will earn six. On Eurowings, Star Alliance’s budget carrier, and Brussels Airlines, travelers will earn five. The U.S. Read more…
Study Reveals Consumers Want Loyalty Program Shift
Sixty-four percent of all consumers still find it appealing to earn points for purchases, but there is a need to shift the role loyalty plays within the consumer journey, according to a study by Helloworld, a digital marketing solutions provider. The report, which examines generational consumer sentiments toward loyalty programs, as well as areas where brands can pivot to accommodate consumer preferences, reveals that while traditional models remain successful, there is a growing appetite for innovation. Findings suggest that rewards must stretch beyond foundational “spend-and-earn” models. For example, 75% of consumers indicated they want to be rewarded for things like watching a brand video or taking a survey, suggesting that time is increasingly perceived as a form of currency. Non-traditional loyalty programs are steadily resonating with consumers. Seventy percent of consumers overwhelmingly like the idea of programs partnering with other brands to increase ways to earn loyalty points. Read more…
Benebit aims to shake up fragmented loyalty environment
The startup plans to convert loyalty and rewards points across multiple retailers into a unified system of fiat currency using blockchain technology. With Benebit’s blockchain-based platform, loyalty points from different sources would be converted into Benebit Tokens that could then be exchanged for cryptocurrency or fiat currency that could used for online purchases Read more…
Building Customer Loyalty: How and Why to Value Brand Loyalists
There’s a very painful moment that happens for many social media managers working to grow their brand’s audience. It usually happens within the first few weeks of settling on a site-tracking scheme that will allow your team to evaluate what your social audience actually does after clicking through to your page. And often, the answer is “not much.” For all the work you’ve done towards building customer loyalty, there suddenly seems to be a chasm between the likes and shares on one hand, and the behavior that ends with a conversion for your brand on the other. “They weren’t in the right mindset to buy; they’ll come back,” we tell ourselves. “Content is just as good as a conversion later,” we say in thinly veiled desperation. Read more…
Mobile Wallets: The Future of Loyalty and Marketing
Loyalty programs are nothing new. From the punch cards at your local small business to the discount cards at your favorite national grocery chain to the vaunted success of Starbucks rewards, giving consumers an extra incentive to spend their money with you can not only get you a quick impulse sale, but also has the potential to gain lifelong loyalty with a growing base of consumers interacting with your brand. As the way consumers pay for goods and services changes, so do the opportunities marketers have to connect with them in a meaningful way. Yes, I’m talking about mobile wallets. Read more…