6 minute read
Real rewards
Real INSIGHT, real rewards
What do customers really want from a loyalty programme? THANDO PATO chats to some consumers to fi nd out
Nicita Allies
Nicita Allies
Senior account manager, Cape Town “I am a member of 13 loyalty programmes, and they defi nitely don’t all serve me. Cotton On, eBucks, and Checkers Xtra Savings card are my favourites. I don’t think it would hurt if H&M had a loyalty programme. The brand services my family’s needs as it has a kiddie, home, women and men’s section, and the prices are reasonable. With my ideal programme, I would like to get rewarded for my purchases immediately. I want a programme that doesn’t require me to spend an arm and a leg to get a discount, and considers things such as birthday vouchers. My worst loyalty programme is Foschini. They want you to spend R1 000 to get R50 off. What’s the point?” Entrepreneur, Johannesburg “I am a member of a few loyalty programmes, but I hardly use them. In retrospect, I think most
Pusetso Mabetoa
Pusetso Mabetoa
Senior manager, Pretoria “I am a member of several loyalty programmes such as Clicks, Pick n Pay Smart Shopper, eBucks, Woolworths, Cotton On, Factorie and Sorbet. My Clicks ClubCard only works for me when I swipe with it at Sorbet, which I go to often, so that’s where I get my points and then cashback rewards that I use to buy toiletries. programme is not user-friendly. Woolworths can do more. It used to be that you could gather points, but now you don’t really get that much from them. eBucks is good because they give you tips on how to accumulate points and they have a lot of partners. I wish stores such as Big Blue had loyalty programmes. I spend a lot of money on local products – there needs to be a focus on 100 per cent South African brands.”
Lesiba Langa Lesiba Langa
I buy my nieces’ clothes at Cotton On. Their of them are a scam because you must spend ridiculous amounts of money to get value from them. A loyalty programme that I think needs to be considered is one for petrol. If petrol brands like Engen or Shell had a loyalty programme where I could get discounts on petrol every time I went to fi ll up, I would defi nitely sign up.”
Alexander Forrester-Strydom
Account director, Cape Town “I fi nd value in some of my loyalty programmes; they are useful and add value from a savings point of view. But I think that generally, across all loyalty programmes, you have to invest too much of your time and resources to see benefi ts, and I would like to see brands reward you more quickly, without so much effort required.”
Alexander Forrester-Strydom
WHAT MAKES A LOYALTY PROGRAMME WORK?
Lauren Moore, junior consultant at Truth, which specialises in building loyalty programmes, says: “Truth has created a blueprint for loyalty success. New programmes can take this framework into consideration when designing their programme or existing loyalty programmes can use it to measure their success.”
Moore says the fi ve critical success factors for any loyalty programme are: 1. 2.
3.
4.
5. It must be simple to use and transparent. It must be visible to the consumer, so they are aware of it and how it works. There must be customer engagement with the programme. The consumer must have a seamless experience throughout the user journey. It must match the brand values – the values of the programme and those of the brand need to be aligned.
Following the launch of the new Greenbacks money management programme, membership on the award-winning programme has grown from strength to strength, underscoring its impact and ability to provide value and rewards for its clients
Nedbank is introducing the Responsible Borrower to encourage smarter lending choices while exposing customers to an even wider array of benefits through a growing partner network.
“As consumers face mounting pressure, they are looking to become more financially astute,” says Dharmesh Bhana, Executive: Loyalty & Rewards at Nedbank. “As financial experts who do good, Nedbank continually develops tools and programmes that empower consumers to enhance their overall financial wellness, including their spending and borrowing habits.”
The Responsible Borrower package enables customers to stay in control of their debt, fostering “good” borrowing behaviour by encouraging them to take up “good” debt. It helps them manage their credit record with prompts and reminders to keep them on track. With no membership fees or penalty fees, members are supported in using debt appropriately and enjoy exclusive partner deals, coupons, vouchers and discounts on the new Greenbacks app. Once a quarter, all customers on the package stand a chance to have the outstanding value of their loans settled by Nedbank.
Through the comprehensive money management and rewards programme, Greenbacks members access personalised deals and special offers through Nedbank’s partner network.
Using advanced data analytics, the bank can observe spending patterns, identify opportunities and encourage a positive, beneficial change in behaviour through individual offers that provide better value for both members and partners.
“Each member selects a package of their choice and gets tips, tools and support to make good money choices to enhance their financial wellbeing. Beyond being a financial services provider, Nedbank is committed to walking the path with consumers to financial wellness,” Bhana says.
“Our aim is to put cash back into our members’ pockets and reward them for adopting better money habits.” – Dharmesh Bhana, Executive: Loyalty & Rewards, Nedbank
MORE REWARDS WITH GREENBACKS AND BP
As South Africans come to grips with the current challenging economic climate, Nedbank continuously seeks partnerships to secure value in their spending, recently adding fuel retailer BP to the range of partners and providers.
Following extensive negotiations with BP, Nedbank has structured a simple, easy-touse fuel purchase cashback benefit for its Greenbacks members who have opted into the Card Swiper package.
Members simply swipe their Greenbackslinked Nedbank card when paying for fuel at any of the 500 BP service stations across South Africa and they automatically receive 25c per litre back.
“As lockdown and travel restrictions begin to ease, our aim is to put cash back into our members’ pockets and reward them for adopting better money habits,” says Bhana.
While clients enjoy an expanding range of benefits, Greenbacks also enables them to contribute through the four Nedbank Affinities Trusts including the Green Trust, the Nelson Mandela Children’s Fund, the Sports Trust and the Arts Trust.
“Accessing the Greenbacks programme through the leading Nedbank Money app and the new Greenbacks app allows clients a more accessible and convenient way to manage their money better,” adds Bhana. “This also allows them to enjoy their rewards in the form of digital coupons, cash and vouchers, which are easily redeemed at numerous participating stores.”
To access this reward, clients can opt into the Greenbacks Card Swiper package available to them on the Greenbacks app. To join Greenbacks, click “Join Greenbacks” on the rewards tab on the Nedbank Money app; follow the prompts to download the Greenbacks app; and register using your existing Nedbank ID. Once registered, opt into the Card Swiper package to earn Greenbacks for all eligible swipes as well as 25c back per litre for the fuel purchase at BP.
For more information:
0860 555 111 Nedbank @Nedbank www.nedbank.co.za
