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How Incentives Use the Power of Brands to
Engage Customers and Build Loyalty

While brands are as powerful as ever, the ways they connect with consumers have evolved. Many brands are using forms of branded value to engage with consumers, increase loyalty and drive sales. The term branded value describes branded objects of value that can be accepted in payment or exchange for another product or value. This includes incentives such as gift cards, loyalty points, rebates and targeted offers.

Blackhawk Network recently commissioned independent research on branded value and published the findings in an ebook. The findings were based on a survey of more than 1,000 American adults conducted in October of 2016.

The research showed that forward-thinking companies are evaluating the power of their brands, and considering how combining their brands with value can inspire actions in shoppers. Among the branded value tools that can create a bond between consumers and their favorite brands were many types of incentives. Key findings to support the value of these incentives include:

Consumers are using different forms of branded value at high rates
In the last year:

  • 83 percent of the consumers surveyed have used a gift card (plastic or egift)
  • 81 percent belong to a loyalty program
  • 42 percent used a reward received after submitting a rebate
  • 36 percent regularly use a mobile or contactless payment option

 

Branded value can make consumers feel a greater affinity to brands
Responses demonstrate it can be a powerful sales and loyalty driver:

  • Eighty-two percent of surveyed rebate users would likely recommend a retailer offering a rebate. Eighty-three percent report that a retailer offering a rebate makes it more likely that they’ll end up making a purchase.
  • Thirty-six percent of surveyed loyalty program users feel more loyal to a brand/retailer after redeeming loyalty points from it. Eighty-five percent would likely recommend a retailer offering loyalty points.

 

Branded value can be a path-to-purchase motivator
Shoppers are most motivated by free shipping, but reported the following would motivate them to complete an online purchase:

  • A gift card to the store (54 percent)
  • Loyalty points (30 percent)
  • Rebates (28 percent)
  • A mobile payment option (11 percent)

 

Branded value solutions can be a good way to drive customer acquisition

  • Ninety percent of the respondents would use a gift card or egift they received from a brand they had never tried before.
  • Forty percent of rebate users believe rebates have prompted them to try a website or store they otherwise wouldn’t have.

 

We can enable you to connect with customers quickly and easily on their terms with the right rewards. Click here to learn more about our many branded value solutions that offer a better incentive experience.

 

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