How Rewards and Loyalty Programs Affect Marketing
At 5 Horizons, we value curiosity and continue to expand our industry knowledge by keeping up with the latest marketing trends.
Over the past few years, browser extensions, such as PayPal Honey, have become increasingly popular among consumers shopping on eCommerce websites. According to Business Insider research, businesses that prioritize rewards and loyalty programs in their marketing efforts are more likely to not only find but also retain customers in the current abundant online retail market.
Browser extensions that aggregate and automatically apply promo codes at checkout have been saving people money at no cost to them, ultimately resulting in a positive shopping experience. Adapting such programs into the marketing model allows retailers to meet consumers where they are, convert “lost shoppers,” reduce buyer’s remorse, and even incentivize customers to spend more on average.
Affiliate marketing programs are also very likely to motivate prospective customers to go through with a purchase. Since rewards and deals are a highly emotional trigger for people, such programs further contribute to establishing customer loyalty.
If you’re looking to incorporate rewards and loyalty programs into your marketing strategy, here is a list of tools that could make both the seller’s and the buyer’s journey more efficient and gratifying:
- PayPal Honey
- Capital One Shopping
Similar to these browser extensions scouring the internet for the best promo codes, our team at 5 Horizons combs through industry news to provide you with the practical information you need to succeed.