Reward Program Overload: What’s Your Value Proposition?

As Americans we love our reward programs. In fact, according to recent surveys there are over 1.8 billion loyalty program accounts in the US alone. That works out to around 14.1 programs per household. Now, if you’re thinking that nobody can actively participate in that many programs, you’re right.

More than 900 million of these reward program accounts are currently inactive. Just like New Year’s resolutions that have already been forgotten one month into 2012, people start with good intentions, but then life starts happening. So what’s a marketer to do?

Once again, the true value of a loyalty program or any marketing effort is based on the overall strategy to engage and promote a connection to your brand that ultimately creates ongoing demand for your station.

According to a recent Ad Age article, consumers are more demanding and complex than ever before and they enjoy branded experiences that are rich in content, tools and community. However, simply offering a points program is not a unique value proposition. It has to be part of a larger listener engagement strategy that deepens the relationship with your station.

With a comprehensive marketing and loyalty strategy you can connect with the P1s who matter most, win back your former P1s and recruit new listeners who could become your future P1s.

Leveraging Loyal Listeners

As part of your ongoing marketing strategy, it’s important to drive conversations and advocacy about your brand. In fact, according to a recent study by General Electric, “consumers exposed via sharing were also 83% more likely to rate GE ‘creative’ than those exposed to the content via paid advertising on Buzzfeed.”

Interestingly, another insight that GE gained from this study is that although the “free” word of mouth publicity is great, it doesn’t replace investing in outside marketing. In fact, they work best, when they work together.

As GE’s study quantifies, there is tremendous value in word of mouth marketing, that’s why DMR campaigns use Tell A Friend web forms to facilitate sharing and also leverage the power of social media to foster conversations about the station that compound the value of the marketing campaign by generating deeper engagement, which organically helps drive success.

To learn more about DMR360 and how it can be customized for your needs as well as specific market availability this spring, please contact Andrew Curran.

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