Getting free stuff is great, but…
There’s always a little skepticism that comes with a “free” price tag. What’s wrong with it? Does the quality level match the price? How good can it really be if it’s free?
You get the idea – generally, the lower the price the less you expect from the product or service. So, maybe some things really are worth paying for?
The idea of a free price tag has even higher stakes when it comes to businesses. Free stuff can be risky for a business, especially if it’s going in front of customers. At risk is more than just a few dollars - the cost of reputation and customer perception can be enormous.
Our advice? Buyer beware. If it has your brand on it, then it’s worth an investment.
I joined a professional association once. Over the course of several years and thousands of dollars, this is what I had received for joining: a useful PowerPoint on writing press releases.
That’s all. Obviously, that relationship didn’t last too long. The press releases I’ve constructed since are better, I suppose. Worth my investment into the organization? Eh, nope.
Ask someone why they join a professional association and they’ll offer up networking, educational opportunities, certifications, or representation. All important and vital functions of any association.
Then, ask someone why they won’t renew a membership, or why they’re not interested in joining at all, and they’ll tell you it’s because they didn’t see the personal value in it. There’s just not enough in it for them to justify the expenditure.
As we mentioned, one of Access' core products is discount programs; bundles of valuable merchant offers sourced by us and offered to consumers through our client groups.
We like discount programs so much, we published a 30 page guide about them for free.
They've proven effective at generating engagement and driving acquisition for over 35 years.
After all, when they're put together well, they can save people hundreds of dollars.
What other benefit or reward can claim that?
"What does 'put together well' mean?" you might ask.
Well, not all discount programs are created the same.
Ever walked away from a brand you love with a sour taste in your mouth after joining their loyalty program? It’s telling that while consumers belong to an average of thirteen loyalty programs, they are only active in about six of those. Clearly, a large percentage of programs are dropping the ball when it comes to connecting with their members.
So then, what is it members expect from their loyalty programs? Well, for starters how about valuable rewards (not a logo’d beer koozy) that are easily redeemable (not points that expire or take forever to accrue before they can even be used).
Let’s take a look at what the world’s best loyalty programs have in common. If you examine the most successful programs – and probably the ones you are active with – they’ll have these four common traits:
