Manage earn velocity: Once savers set a reward goal, they’ll track the speed with which they reach it. If they perceive that reaching the reward takes more time or effort than it’s worth, they’ll disengage. Managing your program’s earn velocity— the perceived "time to reward"—therefore becomes critical to customer engagement. In your communications, highlight account balances or progress to the next redemption level. Implement and promote real-time balances on the program website. Offer bonus options to fuel earn velocity and enhance the anticipation factor.
Exert taken from www.colloquy.com
Caroline Papadatos is Chief Knowledge Officer of Alliance Data Loyalty Services
Thursday, May 17, 2007
Aftermarket Rewards succeeds due to High Earn Velocity
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