Idea to Steal: Consider Doubling Discounts
Say in the past you gave loyalty club members a dollar-off discount coupon. Instead, why not offer a 50-cent coupon plus double loyalty currency points? The cost of those points, plus the 50-cent discount, might be only 80 cents.
“We have done a number of tests of points only versus discount only,” says Dennis Armbruster, managing partner at LoyaltyOne Consulting. “We get the best response to a combination of those two. It delivers immediate value, appeasing the need for speed. Plus, it appeals to the aspirational goals for customers in ongoing programs who want to bank their points. You hit both sides of the consumers' drivers there: They want it now, and they want to be recognized over time.”
Got a CRM tip to share? Contact Beth Negus Viveiros at [email protected]
