Almost no one hates getting free stuff. And everyone loves getting something back for their hard-earned cash. But not everyone gives you something back every time you spend.. We buy coffee and meals almost on a daily basis. We get our cars washed, buy food for our pets, drop off the dry-cleaning on a weekly basis. And we go to the big retailers such as Woolworths and Pick n Pay all the time. With the advancements in mobile technology, what is the best way for the loyalty and rewards savvy customer to navigate this landscape?
In South Africa, there are over 100 loyalty rewards programs and clubs being used by over 25 million people in 8 million households. However, research has shown that most loyalty programs are loss making entities in large corporations developed solely for potential customer spending analytics. Furthermore, majority of shoppers stop participating in loyalty programs due to the cumbersome process of carrying a card for each store, remembering to use it, printing vouchers and coupons and also updating details or requesting a new card once it is lost. For businesses of different sizes and industries, a loyalty rewards program can be of great benefit if correctly administered. But the cost of setup and maintenance of such a system can distract the business away from its core function.