Monetization and customization of customer loyalty programs

Posted 9th April 2015 by in Use Cases Topics: ,

Millions of people around the world are members of customer loyalty programs for a multitude of services such as hotel chains, airlines, retailers or restaurants. By using these customer loyalty programs consumers can build points, receive discounts and benefits and ultimately, save money. Market research has also shown that consumers are 82% more likely to shop at stores that offer loyalty programs. Programs are typically provided in the form of credit cards, rewards (points) cards or special punch cards. In recent years, in keeping with the evolution of the digital world, there has been a shift in the nature of loyalty programs with many retailers now offering mobile apps or web-based loyalty programs however, wholly digital rewards programs are also proven to be less attractive then more tangible card-based programs

Problem: The consumer needs to remember to carry multiple cards around with them to participate and remember to present them at point of sale. Even if reward programs are digitized consumers must remember to open an app when in store or online.

Our Solution: Your banks know your spending history and your frequent spend points, if they were able to share this directly with customer loyalty programs, savings and benefits would be realized without the use of multiple cards or apps.

  • Using our consent and data rights management platform and consumers can give their consent to banks to share their spending history directly with loyalty programs, thereby linking their rewards automatically.
  • This is a huge benefit to the customer, as you no longer have to worry about multiple rewards cards or mobile apps.
  • There is also a huge benefit to the loyalty program operator – who would likely see increased participation due to a decrease in reliance on apps or cards.

In summary: By working with Trunomi, banks can connect with their customers with consent and control to monetize and personalize their spending experiences, thereby opening new revenue steams and empowering their consumer habits.