(image created by AI) An interesting study by the New Columbia Business School finds that…
It just came to our attention that a growing group of companies in the US starts to ‘celebrate’ Rewards Points Day. South-West Airlines being one of them, this group of companies wants to increase consumers (well… members) that they have unused points in their loyalty account that represent actual value, and they’d better use that value before it expires. A very interesting moment to get members activated, we would say.
Of course, it depends on the specific type of program if this ‘celebration’ on the 10th of October is worth it. If the program you run has ‘automatic redemption’ (as many VEMT clients do, since it is one of the most effective loyalty tactics), then it would make sense to remind the inactive members that they should save on a little until they reach the trigger level.
We also have clients that have their members accrue points and redeem them once or twice a year on a pre-set date into coupons. This classic strategy is less effective whole year around (only earning points triggers consumers less), but there can be sound commercial reasons to concentrate redemptions in a specific period.
Programs that do run free rules about earning points and redeeming them could benefit from an annual reminder, especially if this goes with extra temporary benefits in the ‘celebration period’, which could be 10/10 itself, but it could also be the week or even month around it; just what fits the program.
We will certainly celebrate Rewards Points Day next year! Do you celebrate it with us?