May 1, 2018 CPG, Customer Data & Analytics, Customer Engagement, Customer Experience, Customer View, Financial Institutions, Loyalty Strategy, News, Retail, Telco, Travel & Hospitality

How Customers Spend Their Points

Points Spending Personas

 

Qualitative research is at the core of how we develop customer-centric loyalty programs that drive engagement and deliver economic impact. We have found that consumers don’t always act similar to how they responded in surveys. The greatest difference is often seen in how they begin redeeming their rewards/benefits in the program.

We are able to tie back program design survey results with actual behavior in current programs we run, across verticals. Based on redemption patterns we are able to identify four segments, or personas, based on this data:

Infographic Points Spending Persona

 

Creating a redemption strategy that meets the needs of each persona is key to maintaining engagement and program stickiness. By examining these behavioral segments, you’re able to design your program constructs to better serve your customers in how they want to spend their points. This increases their engagement with your program, which, as we all know, benefits your brand.

 

Infographic Points Spending Persona Expanded-1

 

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