When it comes to customer loyalty, travels are the most desired reward. However, customers want to choose from numerous other categories. Do you know which ones?
The truth is that all of us (brands) expect customer satisfaction to be ever increasing so that a lasting relationship is created. The only problem with this is that most of the times the offered rewards do not arouse customers’ interest. This means brands don’t have the skills or knowledge necessary to solve this problem.
According to a market study carried out by VipFidelity in 2017, 75% of consumers argue that when they spend a thousand euros in branded products, their preferred type of reward corresponds to airplane tickets, followed by discount vouchers (18%) and branded perfumes (7%).
According to these data, customers want to have decision-making power on how they are rewarded, even though they are often limited to single-branded products. Have you ever wondered if it was possible, after customers have joined your loyalty program, to choose the reward that interests them most among different categories? Our study has also found out that occupying the first place on the most valued rewards are travels, followed by overnight stays in hotels and house products.
The possibilities of increasing customer’s consumption in your company would be much higher with this system, don’t you think? According to the collected data, it would be important that, in addition to the possibility of choosing pre-selected travels, customers could make a reservation for any destination at any time of the year. The final price would be calculated in points and this kind of reward could be redeemed as if it was just another catalogued product. This type of system is perfect for companies which value a dedicated customer because it works as a guarantee of a long-term and proactive relationship that benefits both parties.
The conclusions are as follows:
1. Increase Consumption
Customers increase their consumption rate because of the availability of a number and type of products which truly motivate them.
2. Improve Customer Service
If the most desired rewards are travels, why should we not allow customers to enjoy them? The search and reservation motor of multicompany airline tickets, where travel’s prices are converted into points, is the ideal solution to empower customers. By doing so brands are improving customer service and investing in consumer loyalty, quickly earning the desired recognition.
3. Increase Sales
Brands increase their sales due to increased traffic, visibility and interest in becoming a customer of this loyalty plan.
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