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:
Branded value can make consumers feel a greater affinity to brands
Responses demonstrate it can be a powerful sales and loyalty driver:
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:
Branded value solutions can be a good way to drive customer acquisition
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.