Got Questions?
What's the difference between a loyalty program and an incentive campaign?
Would a loyalty program or incentive campaign be better for us?
What is a loyalty program?
What are the different types of incentives?
What should I include in my loyalty program or incentive campaign?
Ongoing loyalty programmes vs. fixed time campaigns. Which is best?
What are the key advantages of using Return on Incentives?
Loyalty programs and incentive campaigns are different in their own ways. Both have their benefits and uses. The main difference is incentives drive growth and loyalty retains customers.
Loyalty programs reinforce the customers behaviour, leading to more purchases. Incentive campaigns reward the individual once the target or goal has been met.
With incentive programs, you need to give more to get more from your customers. Incentive campaigns usually have a more valuable reward.
As our programs are built to suit each individual business, we’d need to know what your targets are and what you’re hoping to achieve. Give us a call on 01536 609637 or drop an email to hello@returnonincentives.co.uk and we’ll be happy to have a chat.
Put simply, they are a marketing strategy that recognises and rewards customers who purchase or engage with a business on a recurring basis. In most cases, members of the loyalty program/scheme earn some sort of points and gets membership perks to generate a sense of loyalty. For the business providing the program or scheme they typically grow and retain revenue. For more information: https://www.returnonincentives.co.uk/blog/what-are-loyalty-programs/
There are four main different types of incentives:
• Financial Incentive
o Like bonuses or paid leave, usually used to meet targets and improve staff performance.
• Non-financial Incentive
o Such as unpaid leave or more flexible working hours for employees, usually to reward staff. With customers it could be the access to upgraded services, early access to products or other ‘money can’t buy’ experiences.
• Individual Incentive
o An individual reward which allows you to tailor targets or goals to the individual’s wants, needs and ability.
• Group Incentive
o This could be an experience or a day out to enjoy as a group. Some rewards may only be practical when a group of people can take part, e.g. chartering a plane for a golfing weekend in Portugal.
If you’ve already got some ideas in mind, we can discuss those with you and see how we can implement them to suit your loyalty program as well as give suggestions during the initial chats. But, if you don’t have a clue where to start, it might be worth taking a look at our Campaign Builder.
It depends on your business, customer base, and objectives. Short-term campaigns can be useful for complementing other marketing strategies and investigating uncertainties before creating a long-term customer loyalty strategy. Ongoing loyalty programs can help make your brand synonymous with your business and provide a platform for communication with customers. If you think a short-term or ongoing loyalty campaign could benefit your business, give us a call on 01536 609637 to have a chat about your options.
-
Pre-campaign analysis to segment & understand granular customer behaviour.
-
In-house developed web portal offering huge flexibility.
-
Unlimited sections, Rewards, Campaign types.
-
Application branding across the entire application.
-
Operated within customers’ existing website or custom website as required.
-
Management portal with full auditing.
-
Works with direct entry, API feeds, FTPS feeds to keep up to date if linked to client’s customer dataset.
-
Feeds can be pre-processed to handle changing offers, promotions, customer clustering etc.
-
Variety of redemption models to suit client needs.
-
Individual spend conversions to create a level playing field for all customers.
-
Ongoing results management to track success projections.
-
Optional in-campaign managed communications to increase engagement.
Have a question of your own?
© 2024 Return On Incentives