How Reward Program Enrollment Software Helps You Gain Customer Data
Reward or “loyalty” programs have been around for ages in one form or another. If you are post-Millennial in years, you may recall stores that handed out hard copy cards. After your ticket got punched a certain number of times, you received a free item. Other old-school reward cards offered discounts if you presented it at the checkout counter.
These pre-Internet of Things programs hooked people in because they were getting something in return for being regular patrons. At the end of the day, rewards programs make customers feel valued.
The shift to online platforms for loyalty programs initially prompted some controversy. Companies began using the information provided by customers to generate unwelcome spam and sales calls. Others sold the information, and that led to pushback and disgruntled patrons.
Fortunately, today’s reward program enrollment software has become customer-friendly. In many ways, companies that strategically use enrollment software are throwbacks to the Mom and Pop stores of yesteryear that punched your loyalty card. People are now enjoying loyalty benefits without a flood of emails or marketing cold calls.
How Do Today’s Reward Enrollment Programs Work?
The creativity of marketing gurus may be at an all-time high. The vast array of loyalty programs are smartly designed to favor perks to mainstream and niche customer bases alike. Much of that refinement comes from the ability of marketing and sales professionals to enjoy in-depth access to customer demographics.
Simply put, the data gathered from reward program enrollment software maps out the wants and desires of potential consumers. These are some of the more popular rewards programs at work today.
● Cash Back Programs: These programs give customers back a bit of money for every purchase they make. These are wildly popular because of the tangible benefits loyal customers receive. The rebates are generally calculated by a percentage of total expenditures and cashed in after reaching a defined threshold. The gratification that loyal customers feel is nearly unparalleled in the industry. People are quick to enroll in cash-back programs, and they are an excellent vehicle for capturing customer data.
● Discount Programs: These were among the first type of loyalty programs conceived by marketers. You simply sign up and immediately start saving. Today’s supermarkets nearly all have discount programs that show savings when you pay for groceries. Some companies even have their cashiers remark on how much you saved at the point of sale. Not enrolling in a supermarket discount program is virtually unheard of and customers tend to be quite comfortable providing their personal data.
● Frequency Programs: This type of program tracks customer use. In a Mom and Pop outfit, it might offer a regular patron a free coffee for every six purchased. A free coffee tends to be worth signing up for at local shops. On a large scale, these frequency programs are a favorite of airlines, which push them hard in an attempt to woo consumers.
● Point Programs: One of the winning strategies that some supermarkets and wholesale outlets have employed in recent years is to couple their discount program with a point program. A good example is earning gas points on top of store savings. This type of loyalty program provides a double benefit that customers simply cannot pass up. Using a points program in conjunction with another benefit makes people far more likely to be willing to provide more in-depth personal information. It’s all about the incentives offered when accumulating customer data.
● Tier Programs: This type of program facilitates continued customer engagement. Consumers need only enroll when making their initial purchase, and they enjoy heightened benefits based on the cost of purchases. Higher priced items may come with a greater discount percentage or earn more sought-after rewards. These may include merchandise earned by points or a simple gift that accompanies a particular level of money spent each time. The more money customers spend, the higher the tier benefit they enjoy. These are good vehicles to gain customer data among already loyal shoppers.
How Does Reward Program Enrollment Software Gain Data?
Online enrollment programs have become a widely accepted practice in today’s marketplace. The best way to motivate everyday people to enroll is to match a program and incentives with your target demographic. When people perceive top-tier benefits and feel comfortable with a business, they are more likely to provide in-depth data.
That’s why it’s important to work with a professional reward program enrollment software company. Loyaltyworks has the experience and resources to help you gather and integrate reward program data. Get in touch with our team of experts to learn more today.