We all appreciate feeling valued by our favorite brands, which prompts companies to work hard to find interesting new ways to reward their most loyal customers. Which brands have come up with innovative reward programs that make it easy for their clients to keep on returning to them?
My Starbucks Rewards Introduced an App-Based Program
The huge success of the Starbucks rewards program can be seen in the fact that it has been credited with leading the coffee chain to a 7% increase in sales in 2019, while creating 40% of their annual revenue. It could be said that the reward program from Starbucks has played a major role in making it the biggest name in the coffee industry, with over 31,000 branches worldwide.
One of the main reasons why this loyalty program has been a success is the fact that it lets customers earn points and claim rewards through their mobile app. This might not seem so ground-breaking now, but when they first brought out the plan, it was a completely new concept to many of their customers. Starbucks also regularly revises the terms of the plan to help keep customers happy and satisfied with their service.
With coffee, each person has their own preferred brand, and all coffee companies vie for the coveted position of the favorite by offering different benefits. Similarly, making a reward program or introductory bonus stand out is particularly important in finance sectors where the products can appear similar. For instance, in the forex brokers market a deposit bonus, a no deposit bonus, a draw bonus, and other types are offered which helps to differentiate one company’s offerings from another. In this case, the amount of the bonus is also crucial to attracting new clients, with figures ranging from $1 with FBS to $100 with Ava Trade and others.
This is akin to the situation seen in the banking market. Individual bank accounts tend to vary little in terms of what they offer, although the arrival of online banking has added some new benefits. So, banks need to catch the eye of a potential customer by offering a reward or bonus that makes them seem more attractive than their competitors.
The North Face Give Rewards That Match the Customer’s Lifestyle
North Face has built up a strong brand by offering outdoor gear that lets people get away for adventures in style. Therefore, it makes perfect sense that their loyalty program should add some extra opportunities for carrying out the sort of expeditions that they prefer to enjoy.
This loyalty program works in a way that will be familiar to anyone with experience with any customer reward program. As points are earned on each purchase, the customer moves through the different levels and claims rewards.
However, what makes it more interesting is the fact that the rewards are aimed at enhancing the adventurous lifestyle of their clients. Exciting trips to climbing destinations and personalized gear recommendations are among the main features their loyalty program offers.
The Body Shop Lets People Donate Their Benefits to Charity
The Body Shop reported net revenue growth of 6.7% in the last quarter of 2019. With 3,000 stores spread across the planet, it is one of the leading cosmetics and skincare brands.
To help them to succeed in this highly competitive industry, the company has an interesting loyalty program that allows them to promote their animal welfare values. As well as the typical rewards that are seen in other programs of this type, they also give their members the chance to donate their loyalty rewards to an animal welfare charity.
This gives customers the chance to find a shared cause and commitment with The Body Shop, as they both play their part in helping to look after animals. It is a clever move that helps customers to feel good about donating while enjoying some leisurely retail shopping.
As more businesses look to gain a vital advantage in an increasingly competitive market, we can expect to see more innovative loyalty programs like these pop up. Of course, this is good news for the customers, who get to enjoy some interesting benefits from some of their favorite brands.