Driving Customer Loyalty through Rewards Marketplace

Businesses are constantly seeking to optimize their loyalty programs to suit the needs of their customers for better engagements and retention. The loyalty programs market size is expected to grow over USD 200 billion at a CAGR of 13.0% during the forecast period of 2019-2024. i

To create loyalty programs as dynamic as their consumers, companies need to develop an underlying consumer-loyalty strategy built around an innovative ecosystem of products, rewards and experiences.

Loyalty Rewards Ecosystem on the Rise

Shopping malls, hotel groups, banks, credit cards companies and telecom providers are taking the lead to build ecosystems and partnerships for loyalty rewards, transforming the rewards model with more attractive redemption options and loyalty benefits. Bridging the brands, consumers and merchants, the rewards marketplace enables customers to earn, redeem and transfer the loyalty points on a common platform. Flexible redemption enhances consumer engagement and satisfaction for utmost brand loyalty.

Transform Loyalty Program into a Profit Center

Powered by data-driven loyalty metrics of customer purchase patterns, customized incentives and promotions can be launched to further delight customers. Merchants can leverage the rewards marketplace to develop new business channel, cross-sell/ upsell consumers to boost revenue and increase customer stickiness with enhanced brand experience.

Watch the video to learn how to unleash the power of rewards marketplace.

i  https://www.businesswire.com/news/home/20200903005597/en/Global-Loyalty-Programs-Market-Analysis-Trends-and-Forecasts-2019-2024-by-SpendEdge

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