Loyalty rewards partnership programs

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Sign in New account Connect with:. Sign in with Google Sign in with LinkedIn. Email or Username. Password Show. Remember me. Log in. Connect with:. Sign up with Google Sign up with LinkedIn. Last name. Subscribe for Daily Esports Business News. The desired action could be anything from a customer signing up to your email list, purchasing a product or service, or doing a free trial. The reward is typically a partner brand discount or freebie.

This approach allows you to partner and to connect with another brand, which will overall improve customer retention. Loyalty partnerships come in several forms. Generally, the loyalty partners are often websites, applications, or companies that actuate potential consumers with a reward for taking the desired action.

The actions that lead to a reward could be a sale, accepting a free trial offer, signing up for an event, filling the contact form, and other valuable actions. Just like the rewardable actions differ, the rewards offered also vary. However, some common reward programs feature:. By partnering with the loyalty sites, brands reach consumers in a specific market that may offer high-value returns to the brand. Due to the specific targeting found within the loyalty program, loyalty partners are quite effective in driving new customer growth.

This is especially since the loyalty partners leverage customer data in different ways. As the brands work with loyalty partners, new strategies are formed that enable the loyalty partner to deliver a high number of customers. Here are some of the popular loyalty partners available to brands looking to reward their customers through a loyalty partnership program.

LoyaltyLion : A data-driven loyalty and engagement platform that helps brands unlock real insights to build lasting customer relationships. The loyalty partner powers over 15,00 reward programs and serves over million members. Emarsys : An SAP company that seeks to empower digital marketing leaders and business owners by providing an omnichannel customer engagement platform and an actionable AI and fully integrated customer engagement platform. Yotpo : A platform that enables brands to maximize response rate and bring back past shoppers with coupons.

Incentivize customers to write reviews and increase customer lifetime value. Mavrck : Incentivize influencers within the platform with cash, product, gift cards, promo codes, or exclusive experiences.

Cupshe is a Swimwear brand providing suitable wear for people who want to live on the beach. To enhance campaign reach, the brand community created a tiered loyalty program structure that complemented brand identity. The loyalty program allowed members to progress across four tiers dubbed shore, sand, seas, and the sun.

Cupshe partnered with LoyaltyLion and created a data-centric loyalty program. Evy's tree is a luxurious fashion brand. The brand wanted to increase its repeat customer rate, and choose a loyalty partnership program with Smile. The loyalty partnership program is aimed at creating a sense of community around the brand with points. For Evy's tree, the loyalty program gave their customers the tools to do the marketing for them. A loyalty partnership program is one of the effective ways of encouraging customers to buy more and to maintain a long-term relationship.

Here are important steps to guide into creating an effective loyalty partnership program. Therefore, come up with the one goal that will have a huge impact on your customers when you introduce the program. Therefore, it's important for the brand and the loyalty partners to understand the customers and manage the loyalty program around what matters to the customer. In addition, it is necessary to spot the target group and structure the loyalty program according to the identified group.

The data may include consumer behavior and the overall wellbeing of the business. You need to analyze the needs of the customer based on the data you collect.

The marketers need to target buyers through popular channels and offer deals on recent purchases. Brands desiring a higher order value on recurrent purchases. Loyalty partners are perfect for this goal due to their dynamic targeting capabilities and the ability to entice customers to return and repeat purchases. Additionally, loyalty partners tend to have a greater degree of ability to support a higher average order value.

In turn, this increases overall customer lifetime value. Brands needing geo-targeting capabilities. These types of brands are most often only offered in specific markets and need the tools to target customers at much more intimate level. As noted above, loyalty sites typically require some sort of profile creation from a consumer in order to get their rewards — information that often includes their geographic location.

By partnering with loyalty sites, brands can reach consumers in a specific market that may offer higher value for their brand. Brands looking to increase sales when business is slower. A great example would be right after parents do all their back-to-school shopping or times that fall outside of holiday spending.

During these times, loyalty sites can hosts sales, double-points or whatever reward they and their brand partner choose to incentivize customers. And because loyalty partners typically pass increased rewards commissions on to consumers, brands can work with these partners to adjust commissions in ways that will create more demand during these slower months.

What Loyalty Partners Look for When Partnering with a Brand Most loyalty partners are fairly selective when it comes to determining what brands to partner with. To set your brand apart so that loyalty partners are in interested in working with you, there are a few things to know and do: Establish competitive commission rates.

Commission rates are a critical deciding factor that will ultimately dictate whether a loyalty partner will choose to work with a brand or not. Many of these partners are looking for competitive commission rates or a minimum rate because they often use part of their commission earnings to help fund their rewards programs, whether this is in the form of cashback or in a points format.