Kelly Passey, the Executive Vice President for Incentive and Loyalty Services here at Access, has published several articles over the last year discussing trends in credit card rewards programs and the payment card industry as a whole. Kelly Passey's recent article, "What is Loyalty and How Can I Get Some?" published in Loyalty Management Magazine offers forgotten common sense about what rewards programs originally set out to accomplish.
Cardholder rewards programs are often structured in a way that requires them to discourage redemption in order to keep costs down. Yet frequent redemption of relevant cardholder rewards is the key to the loyalty--and increased card usage--these programs are designed for in the first place.
Companies and financial institutions looking for ways to increase the effectiveness of their rewards programs will find Kelly's approach to the fundamentals of relevance, value and affordability a refreshing read.