PROFIT-MAKING NON-CASH REWARDS

Finding a distinctive way to ensure your valuable customers feel appreciated is an important part of any loyalty strategy. Aligning with your customers’ feelings is the core of building an emotional connection between them and your brand. One must go beyond the traditional means to build emotional connections that drive lifetime value for today’s customers and don’t cost a fortune. We recommend offering on-brand, distinct, exclusive benefits for standing out, staying relevant, and engaging your customers.

Some of the ways to grow customer loyalty through non-cash and experiential rewards are:

Early Access

Giving your elite customers the first peep into the upcoming sale, or new launches is a fantastic way to make them feel special without extending discounts or freebies.

Exclusive Events

Inviting your loyalty program members to an exclusive on-brand event creates a memorable experience for valuable customers. Rewarding guests with a happy hour or inviting them to a launch event with a celebrity/ influencer at your helm makes a lot of difference. When customers are allowed to attend an exclusive product launch, they’re going to share that experience online with friends and family — something that can help attract new customers “through word of mouth”.

Merchandise and Swag

Your brand might already be selling merchandise and swag to customers –-shirts, hats, and stickers are the usual suspects. Creating unique merchandise items to catch customers’ eyes is another great way to win their loyalty. For eg, Starbucks’ customers can redeem points for more conventional merchandise such as coffee beans or mugs. These items can be offered as exclusive benefits to reward certain behavior and encourage participation in your program. Exclusive merchandise can also be a surprise package.

Special Passes

Imagine the feeling of shuffling past an endless queue of customers, and moving directly to the front of the line, or being ushered into VIP reserved seating. This is a feeling you can give your best customers regularly. Special passes like “skip the line,” show them you value their time and patronage. It’s also a great way to create buzz and engagement.

Mega-Rewards and Ultimate Experiences:

Offering an over-the-top reward or the chance to win a high-value prize is a great way to generate press and media attention while also saying “thanks” to top-tier guests.

Experiences are far more memorable and more valued than a discount. They feel more personal, and leave a long-lasting impact on the customers with multiple reward options they can choose from.

Most importantly, experiential rewards are inherently social and shareable. Interacting with other like-minded rewards members can further strengthen a sense of community around the brand. Positive experiences associated with the brand make it an integrated part of their lives, encouraging lasting loyalty.

Experiential rewards can create this same sense of community among your like-minded customer base. As you come better to understand the values and interests of your target audience, you can reward them with meaningful experiences that will be far more memorable than just another discount. Even if your brand is not national or publicly traded, finding a distinctive way to ensure your customers feel appreciated is an important part of any loyalty strategy.