A 3-Step Approach to a Better Customer Rewards Program

Aim
At a time when nearly 80 percent of Americans report they're tired of receiving irrelevant email offers and discounts, according to a Harris Interactive survey, relevancy couldn't be more important. Simply put, consumers want discounts that meet their specific needs and wants.

Regardless of which metrics retailers seek from offers and promotional campaigns, most systems simply don't effectively align deals with customers’ buying patterns. Fortunately, programs that partner with financial institutions are different, as they have the ability to leverage this data anonymously and securely to tailor promotions based on actual consumer spending. This data can include information like what was purchased; when, where and from whom; and whether it was a repeat or first-time transaction. With this targeting, retailers can put a tailored offer in front of any shopper who spent money with a competitor in the last 30 days.