Many companies know that cultivating brand loyalty is no longer about pricing and product, which is why they have turned their attention to customer experience. After all, there is value and power in delivering exceptional customer experiences — you can capture your share of the market and generate and retain brand loyalty.
But giving customers better experiences may not be good enough, especially when the market is saturated with choices — all vying for the attention of the same customers. This is why today, businesses turn to EonX’s Rewards Marketplace, a bespoke loyalty, rewards and incentive platform designed for businesses to instil a sense of brand loyalty and to drive further value to their members, customers and employees.
Benefits of rewards and incentives
When businesses offer rewards and incentives to their market, they gain the following advantages:
- Boost revenue or profit: Customers are enticed to spend more when they are already loyal to a brand and they know they are getting something in return.
- Save on costs: Implementing a Rewards Marketplace platform requires some investment. However, it’s a lot cheaper than trying to acquire new customers which can be 25 per cent more expensive.
- Access to valuable data: You can collect data about your audience when you ask them to engage or transact with your Rewards Marketplace, and then leverage it for targeted messaging and retargeting.
- Improve communication: Rewards Marketplace gives businesses a unique opportunity to personally talk to their audience, as well as promote sales and special events, and highlight new products.
- Obtain customer goodwill: Rewards Marketplace offers comprehensive, personalised loyalty that fosters meaningful connections between consumers and your brand. This relationship can deepen to the extent that your most loyal customers are willing to excuse blunders and will remain committed to your brand no matter what.
- Conduct measurements and gain analyses: Program data can be collected to create reports and track analytics, to determine user engagement and better develop data driven strategies.
- Gain new customers: Well-thought-out and executed rewards programs also attract new customers, as long as you make these accessible to everyone. What’s more, happy customers would be more than happy to refer your brand to their friends and family when they too, are content.
To experience all these benefits, it’s important for businesses to leverage a platform like EonX’s Rewards Marketplace. By providing access to various types of rewards and incentive tools, such as Online Offers (Cashbacks), e-Store (tangible products), e-Gift Cards, and Gift Cards, as well as Cinema, Dining, and Travel incentive schemes, users can appreciate the convenience and satisfaction of knowing they have so many choices available to them. This is actually how loyalty develops.
Rewards Marketplace – Key features
With the Rewards Marketplace, you can come up with your own branded rewards experience to cultivate, grow, and retain loyalty. You can do this by taking advantage of a wide network of leading Australian brands and service providers with their own benefits and exclusive offers.
Check out the best features of the Rewards Marketplace below:
- Broad, diversified catalogue: It gives you access to a wide network of participating leading Australian brands and retailers that you can choose from. This means you can tailor your rewards program and align it with your goals, wants, needs, and audience.
- Exclusive discounts: Rewards Marketplace allows you to leverage the best exclusive discounts offered by the brands and retailers you choose for your program. You can then offer users the opportunity to save money in the thousands every year — thereby securing their interest and gaining their loyalty in the process.
- Platform monetisation: You have the option to monetise the platform by offering rebates with every transaction. For example, if your program is designed to benefit your employees, you can use Rewards Marketplace to enable them to use their savings for paying off personal bills. They can also opt to donate it to a charity they support.
If you’re in the market for an outstanding loyalty and rewards platform, you can explore the many features and benefits of EonX’s Rewards Marketplace.
Drop us a line if you’re interested in growing your business and building a loyal following.