How To Use Rewards To Drive Customer Loyalty

Perhaps you've just realised the benefits of rewarding prospects and customers to increase engagement, lead generation and campaign success. Or maybe you are already using rewards, but the manual process of purchasing them directly from retailers is becoming too cumbersome. Whatever the case, it's time to evaluate digital gift card providers to find the most effective and efficient tool to support your business.
There's a wide range of digital gift card providers out there, but when shopping for a rewards tool, it's important to make sure you get one that's right for your needs. Some gift card providers may not be the best fit for your business because they're designed as direct-to-consumer e-commerce sites.
Types of Reward
For any business, the first thing you need is the right gift cards. The types of rewards you need will probably depend on how you'll use them and who your target audience is. For example, B2B organisations may want different options to a B2C company. Or if you're in a specific industry or vertical, you'll want rewards that are relevant.
Whatever you're planning, it's also a good idea to consider whether gift card providers offer more universal, flexible rewards, such as cash equivalents and prepaid cards. Research has shown that recipients like having a choice, and you never know when you might need to send something more widely redeemable and appealing.
Personalise the Reward
Today's consumers want and even expect a personalised shopping experience, it's been widely reported. But when it comes to other communications they have with companies, these expectations also apply. 71% of B2C customers and 86% of B2B customers believe that companies should be well informed about their personal information during a service interaction. This means you need to read the notes and keep track of every touchpoint in your CRM. This includes all rewards sent and redeemed. If possible, personalise not only the reward email, but also the reward selected. You can choose rewards they're sure to love based on everything you've learned about them from your interactions. Remember to personalise any follow-ups, e.g. survey invitations or promotions.
Customer Follow-up
Satisfying a customer is one thing, but rebuilding trust is another. Start the process by sending them a survey about their post-reward experience. You can even offer them a small incentive to complete the survey - ongoing feedback surveys are a key part of any customer retention initiative. It shows that you not only want to keep their business, but that you're committed to understanding where you can improve so that their bad experience doesn't happen again.