Loyalty & Reward Schemes

Points based and tiered loyalty programmes

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Loyalty leaders grow revenues roughly 2.5 times as fast as their industry peers

and deliver two to five times the shareholder returns over the next 10 years.
https://hbr.org/2020/01/are-you-undervaluing-your-customers

What are loyalty and reward schemes?

Loyalty and reward programmes are schemes available to B2C & B2B brands in order to attract and retain customers.

Taking the form of discounts, free offers and other incentives, they offer brand owners the chance to create excitement in their brand and products which in turn increases customer awareness and satisfaction as well the opportunity to boost sales.

A valuable means of capturing data and insight into customer demographics, attitudes and behaviour, loyalty and reward programmes also help differentiate your brand from your competitor.

What are the different types of loyalty & reward schemes?

Two of the most common customer loyalty programmes are:

Points based loyalty programmes

The most common type of loyalty scheme, a points based loyalty programme offers the customer points or credits which can be redeemed against, for example, free gifts in a printed catalogue, online rewards etc.

MRM can develop a fully online platform for customer and clients, where customers can place orders (to spend their points) as well as access their account i.e. previous orders and order updates.

In turn, clients have 24/7 access to a dashboard showing each customer record (including points/stages). Once the order has been received, MRM can provide handling & fulfilment by pick, pack & despatching the item(s) to that customer, with our in-house customer service centre handling any customer queries.

Tiered loyalty programmes

Tiered loyalty programmes let customers enjoy a perk depending on their rank or tier. Similar to a points programme, they also incorporate certain tiers, for example, bronze, silver, gold membership.

The benefits of a tiered loyalty programme are the ability to segment your customer database and create personalised journeys or rewards for each tier.

How can a loyalty programme help my brand?

Loyalty and reward schemes can offer a wealth of benefits, including:

Increased customer referrals. An effective scheme is one which is passed on by a customer to friends and family.

Increased customer retention. Loyalty schemes which genuinely value a customer tend to result in customers who stay with a brand for longer, increasing their customer lifetime value.

Data capture. Loyalty schemes capture data and therefore real insight into customer demographics, attitudes and behaviour – all of which are vital when it comes to creating refined and targeted future activity.

Increased sales. Data shows that customers are more likely to buy from a brand after joining its loyalty programme.

Brand ambassadors. The best ambassadors for your brand are those who love it and share that love.  Loyalty schemes which keep customers can effectively turn those customers into ambassadors for your brand.

Differentiating your brand. Customer loyalty programmes are a great way to differentiate your brand from your competitors.

Why MRM is the best provider of loyalty and reward schemes

MRM has a proven track record in providing loyalty scheme platforms which unite brands and consumers.

We offers bespoke or off-the-shelf campaign solutions meaning that whilst you decide on the parameters and objectives of the loyalty scheme, we can offer our knowledge to ensure that the scheme runs smoothly and effectively.

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Want to learn more about points based programmes?

Call us on: 01858 410510
Email: sales@mrm.co.uk

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Case Study

Loyalty and reward schemes offered by MRM

How to set up a loyalty and reward scheme

Involving MRM early in your loyalty campaign planning process will help both maximise the impact and minimise the cost and complexity.

We work directly with brands or your chosen agencies to devise tactical and longer term campaigns which will exceed the expectations of the digitally savvy consumer and deliver the best customer experience for you.

Get in touch to find out how MRM can design and deliver a reward and loyalty scheme for you.

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Points based and tiered loyalty programmes

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