Tuesday, March 5, 2013

Multi Level Innovation in Rewards

The examples that follow bring home the point - that innovation needs laser focus on each stage of your rewards programs.  (Click on the highlighted part of each example to get an indepth understanding of each one).

#1 Setting Goals
Tiger Fuel aimed its rewards program directly at a brand perception problem.

#2 Who Should Be Targeted
Hilton maximized brand value in China by recognizing locals who were known for their work ethic.
Vista bank targeted both consumers and businesses with a community oriented rewards program.

#3 When to reward
Givex and Transacta partnered to deliver a solution for companies to affect purchase decision making in real time

#4 Choosing platforms
Jersey Mike’s uses NFC for customers to collect rewards
PointBank uses a social activity tracking system to reward customers for social activity

#5 What to reward
Vista Bank rewards customers for using social to spread the word about its loyalty program
Shopkick empowers retailers to rewards store visits rather than only purchases

#6 What rewards?
Loyalty Shares takes alignment of company and customer to next level:Company shares as rewards puts customers in the company’s shoes and forces them to look for win-win’s in purchasing process.http://www.loyalty-ip.com/article-104-multi-level-innovation-in-rewards

No comments: