WHAT DOES PAYFLEX LOYALTY OFFER?
- OMNI-CHANNEL LOYALTY: With an omni-channel approach, the infrastructure meets loyalty expectations providing a seamless experience through all channels.
- POINT EARNING-MORE SPENDING: PayFlex Loyalty enables customers to earn points for product purchases, certain behaviors and brand engagement.
- UNIFIED CUSTOMER EXPERIENCE: Experience higher revenues and offer unified customer experience at all customer touch points.
- CAMPAIGN MANAGEMENT: Get the customer information and activities that help to create lucrative campaigns.
RETAIL CAMPAIGNS ARE PERSONALIZED
Retail is the main industry where consumers love being rewarded the most, especially on product purchases. Specifically designed for the retail sector, product-based loyalty rewards program members with points and allows redemption on product purchases again. Since the program is fed by customer purchases, companies can also utilize such information to learn shopping preferences of program members and create personalized campaigns.
Moreover, consumers look for personalized brand experiences in the era of next generation of customer loyalty. Focusing on the level of involvement that consumers have with the brand across channels has become more relevant than focusing on transactions. It is now a big opportunity to deploy loyalty program as a way for consumers to establish an emotional connection with the brand. This is when relationship loyalty comes in where consumers are rewarded for their both financial and non-financial transactions in retail and also in banking and telecom industries.
LOW-COST CHANNEL FOR BANKS...
Relationship loyalty is a concept widely applied in banking and telecom sectors promoting the usage of various channels. For example, online branch is a low-cost channel for banks, where banks minimize operational costs, increase revenue and in return offer more benefits to program members. Therefore, usage of internet banking can be promoted by offering rewards to program members. Some other examples to reward program members in banking for their behaviors and/or interaction with the brand could include, but not limited to:
- Paying off credit debt
- Scheduling automatic utility bill payments
- Paying credit card due on time
- Utilizing ATM for various transactions versus in-branch teller
- Transferring salary to checking accounts