Points-based customer loyalty programs are common across all facets of life, from supermarkets to banks and card issuers. It is obvious why: successful loyalty programs have high customer-engagement levels, typically seeing a 90% increase in purchase frequency and 60% higher spend per transaction.
However, an estimated $50 billion worth of loyalty points are never redeemed, creating significant financial liability. Within our paper “What Can Loyalty Points Buy?”, discover what the key challenges of loyalty programs are and why accrued liability builds up, plus our solution to ensure your loyalty program can be a powerful CX tool to drive customer engagement, lifetime value and card spend.
Who is the case study for?
This paper is aimed at senior leaders and managers with points-based loyalty programs targeting affluent, high-net-worth customers. This includes, but isn’t limited to, private banks, card issuers, premium brands, airlines or global hotel chains. These insights will be of particular interest to those reviewing their loyalty point program strategies, or to those undergoing procurement of lifestyle or concierge services.
What questions does it answer?
- What are the significant challenges of points-based programs, and how can these be overcome?
- How do you reduce the growing accrued liability within a loyalty program?
- What customer behavior changes and impacts are expected when customers can pay with points?
- How can Ten’s Pay with Points capability reinvigorate a points-based rewards program?
Example sources from the paper
- Can Blockchain Help Loyalty Programs? – Bitcoin Magazine, Nasdaq
- Customer Engagement from the Consumer’s Perspective – Rosetta Consulting
To find out more about elevating your CX strategy, read about why bank CEOs are using lifestyle services to drive CX transformation.