A comparison between Belly and RewardMe – by the stats

RewardMe vs Belly Data-driven comparison by the numbers

Andreeson Horowitz recently invested $10 million into loyalty startup Belly.  I’d like to start off by congratulating the Belly team on their Series B – we wish you good luck in reaching Groupon-like scale.

This recent news warrants a fair and honest comparison between Belly and RewardMe.  We welcome the founders of Belly to write their responses in the comments section at the end of this post to continue the discussion.

Comparison snapshot: this post will compare Belly and RewardMe in the following 6 important customer loyalty program topics

  1. Customer sign-up rate: how many new customers sign-up to the program
  2. Participation rate: the number of check-ins to the rewards program
  3. Return on investment: measurable ROI that is backed by data
  4. Reward structure and customization: the ability for the business to customize rewards
  5. Data capture: the type of data that is collected from consumers
  6. Ease of use: ease of use for the business and the consumers

Continue reading A comparison between Belly and RewardMe – by the stats

RewardMe video case study: Fraiche Yogurt

Business: Fraiche Yogurt

Type: Yogurt shop

Owner: Patama Gur

Fraiche is an incredibly popular yogurt shop (with 3 locations) that uses RewardMe to power their rewards program.  Patama (the owner) is such a terrific person and incredibly smart business owner.  As you’ll see in the video, she has been hesitant to use a rewards program for a long time because she doesn’t want to give away free food; however, when she found out about RewardMe and the incredible data that we collect, she quickly took action and has used our program to capture over 35% of her customers.

Check out the video to learn more about her first-hand experience with RewardMe.

Continue reading RewardMe video case study: Fraiche Yogurt

RewardMe Infographic Friday: What Happens To Loyalty Program Points?

When it comes to the loyalty program points that consumers earn, spending them seems just as hard earning them. From the air miles to cash back points earned via credit cards, consumers earn, but don’t always spend the points.

The reason for this can be reasoned with the following:

(A) They forget: Perhaps the biggest reason why points go unused is that they are forgotten. For example, I earn points at the grocery store every time I purchase something, but rarely get any acknowledgement/updates of it. The instant benefit of getting a discount on the products I buy because of being part of the loyalty program makes me forget that the points accumulated can be used for something bigger and better.

(B) The rewards are unattainable/difficult to use: If you’ve ever tried to use your air mileage points for a trip, you know how hard it is to redeemed for the trip you actually want. Because of the difficulty and sometimes ‘impossible’ redemption milestones, consumers often see their efforts as fruitless.

Tip: When creating milestones for points, consider tiered levels of rewards: Easy, Medium, Hard. Your loyalty program should make it easy for the casual shopper to participate while making it worth while for the ‘hardcore’ shopper Continue reading RewardMe Infographic Friday: What Happens To Loyalty Program Points?

Supercharge Your Loyalty Program

Loyalty programs are nothing new, from simple punch cards to sliding magnetic stripe cards, most loyalty programs involve some kind of physical card you carry around all the time. Customer loyalty is a major component of any business especially when considering the fact that it costs 5 times more to acquire a new customer than it is to retain a current one.

Traditional Loyalty Program Benefits

For years, loyalty programs have been a proven way to increase repeat customers, increase customer spend, and ultimately increase sales. Businesses have seen consistent returns and continue to pursue some form of customer retention or loyalty initiative. Customers enrolled in loyalty programs become more engaged and build a stronger relationship with businesses that reward them for their loyalty, as they feel the business is giving back to them resulting in an increased perceived value from the customer. Traditional examples of loyalty program setups include “Buy 10, Get 1 FREE” and “Spend $50 and get $5 back.” These linear, standard, and non-dynamic rewards are a very simplistic and basic program. With today’s technology, businesses should look at rewards programs differently, and be more proactive vs. passive to leverage the power of their programs. Continue reading Supercharge Your Loyalty Program

The Importance of Having A Mission

As I write and work in the loyalty space, I sometimes stop to think about the places I consider myself loyal to. There aren’t a lot of them; I frequent my grocer and use a friend’s phone number instead of a club card, and I usually don’t cave to the deals offered by loyalty programs. For other businesses, I am fiercely loyal, and make it a point to recommend “my” businesses whenever friends or tourists ask. “Why so loyal?” you ask? Because they all have one thing in common: a socially-charged mission. Continue reading The Importance of Having A Mission