Great companies understand loyalty
Updated: Feb 22, 2021
Relationships are everything in the current automotive environment. The loyalty programmes that have the most impact leverage relationships – not rewards – to achieve their goals.
Whether you are looking to incentivise customers or staff, effective automotive-focused loyalty programmes provide companies with a powerful engagement tool and a sustainable competitive advantage.
It's not a case of ‘one size fits all’
By leveraging digital technology such as mobile apps, companies can serve customised behavioural targets and relevant content to different audiences. Personalisation is a key ingredient in reaching and engaging recipients of a loyalty programme.
Significant research has been conducted on the effectiveness of cash versus non-cash rewards as motivators for loyalty. It has been proven that non-monetary incentives play a psychologically different role when compared to remuneration, bonuses or commissions.
The right blend of compelling hard benefits – such as earn rates, points, discounts and deals – and bespoke soft benefits, like personalisation, recognition and relevant information is critical to creating success in your loyalty strategy.
Carefully designed programmes connect with and address the needs of the people who matter.
Design for change
Understanding your audience is key to driving success. Whether it be existing or new customers, your staff or your customers’ employees, knowing how to best communicate with these stakeholders requires a strategic approach.
What might work extremely well for one business might not work at all for the next, so the right strategy, content and tone of communication is crucial from the outset.
The long-term success of an effective loyalty programme requires an iterative approach to develop and respond to ever-changing conditions. The ability to split incentives among individuals, stimulate competition via leader boards or unite a team toward a common goal are just a few options to consider.
There are many ways to design a programme specific to your business. But, above all, the
platform must be adaptable and flexible to move and evolve alongside inevitable change.
Flexibility and power of choice
Covid-19 serves as a reminder of how swiftly things can change. Sales targets were suddenly rendered pointless throughout much of 2020 and businesses were forced to refactor their customer strategies in a matter of days. Some of the best brands across the world used their loyalty platforms to not only communicate with customers but to also support them in a time of need. During New Zealand’s first lockdown, for example, Smart Loyalty provided its members with the ability to spend their points on a selection of business essentials like food bags, medical supplies, and alcohol. The concierge reward service that enables this meant that members of its various loyalty programmes could access additional support at a time when they needed it most - loyalty at its best.
Authenticity over everything
Authenticity in communications is now more important than ever – an overloaded customer or staff member doesn’t want just another generic message.
Your loyalty programme is not just about sales, it’s about making sure you put your stakeholder relationships front and centre.
Great companies and great loyalty programmes have purpose beyond just points and profits.
Let us show you how loyalty can help create exceptional relationships with your stakeholders