The Power of Redemption: Why Small Rewards Can Mean So Much

Loyalty Rewards Amid COVID-19
Most loyalty programs focus on offering high-value items aligned to the product suite that business sells: hotel programs offer free or discounted stays, airlines offer miles redemption for tickets or upgrades, and retailers provide discounts or members-only benefits.

While this straightforward approach can easily align a loyalty program with its brand, these perks can feel restrictive or even alienating to some members. To make matters worse, due to current events, many of the products and benefits commonly offered may not be desirable.

Travel brands that center their rewards programs exclusively around big-ticket, travel-oriented items risk losing once-loyal members during this critically important time. Retailers are seeing decreased foot traffic and in-store spend, making it increasingly difficult to maintain loyalty status and offer perks.

So how do you resolve this issue? The solution is deceptively simple. Businesses need to reimagine the role of their loyalty program. It’s time to expand loyalty offerings and create timely and relevant rewards that are valued by today’s shelter-in-place consumer. This is the most effective strategy to reengage thousands of inactive members and keep the current customer continually engaged in earning and redeeming with your brand.

Synapse Group helps to bridge the loyalty gap by offering custom solutions and packages for your members at all levels. Reward long-standing members, welcome new members and provide a value-add for those looking to add points to their existing membership. Tailored incentives include magazines, digital content and health and wellness subscription services customized to your brand. While many are stuck at home there’s never been a better time to offer these types of rewards.

To find out more about Synapse Group’s custom loyalty solutions, contact us today to speak with a representative.

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