Reward Redemption: Free Premium Glasses from Spiegelau

Shopping and spending can even be more rewarding for consumers through redemption programs, and leave a lasting impression that would urge them to repeatedly do business with you. If done right, a reward redemption program exemplifies this brand satisfaction with every purchase.

We’ll explore what is a reward redemption, its importance and how you can boost your redemption rate through this promotional giveaway our team spotted in New World, one of the largest supermarkets in New Zealand.

Reward Redemption: Spiegelau Premium Glass

A reward redemption program is a marketing strategy to incentivise consumers for purchasing repeatedly and encourage them to spend more in order to redeem the merchandise.

In this reward redemption of New World, they’re offering premium glasses from Spiegelau, a known glass company. Consumers are given a sticker collection book they can fill out to redeem the branded glasses.

Consumers are given a sticker with a minimum of $20 spent on a single receipt. They’re also given bonus stickers on selected products when they shop online.

Why Is Reward Redemption Important?

Your brand’s reward redemption rate can tell you how many of your consumers are satisfied with your business and services. A satisfied consumer would repeatedly do business with you, purchase more, build brand loyalty and advertise your brand.

How To Boost Your Reward Redemption Rate?

1. Make the reward redemption easy.

The first thing consumers would think of when they see your reward redemption is whether or not it will be a hassle for them to join.

As it is, people are already busy with deadlines to beat and tasks to finish. The last thing they need is something that’ll add to that. Hence, to have a strong foothold, you must make your reward redemption as easy and as seamless to them.

Use clear words and instructions, and utilise phones since people always bring them. You can employ QR codes and mobile apps to ensure your consumers don’t get bogged down with having to keep tabs on their rewards because it’s likely they would not.

New World made it easy for their consumers by having premium glasses right within reach. This way, consumers can instantly get rewarded without waiting time or the added effort such as redeeming in a different place.

2. The branded reward must be valuable.

The next thing shoppers would think is whether or not the reward is valuable to them or to anyone they know.

A branded merchandise value can be assessed in various ways such as the quality of the product and the material, the rarity of the promotional product, or its practicality.

In this promotion, the supermarket hit all of that through the branded premium glasses. It’s a quality product made by a known glass company and is practical for consumers. All alcohol enthusiast shoppers would immediately see the value and quality of the reward, however, the same could also be said for normal consumers who would see its usefulness.

3. Set a clear cut-off point.

Deadlines and cut-offs are important because they give people a clear view of how long they can spend pursuing or doing something.

In reward redemption, setting a clear cut-off of when they can redeem their promotional gifts fosters the urge to immediately complete the needed requirements and redeem the giveaway item. It urges people to move and spend more.

This, undoubtedly, increases sales and repeated purchases.

4. Help them redeem your rewards.

Everyone knows the effect of boosting the morale of the people and the incredible feats people can do because of that.

A usual problem with reward redemption, for consumers, is after redeeming a single gift, they will have to start from scratch again. It instantly lowers their will to spend more since the goal is much farther this time. That is why most people stop at first reward redemption and never try again.

A way to overcome this block is by helping your consumers reach your rewards. This can be as simple as giving them a headstart of two points or stamps after redeeming or a bonus one after consecutive purchases.

Then, consumers would feel like you want them to get your rewards and be more motivated to do so.

5. Keep it personal.

As mentioned above, consumers are less likely to remember their points and the rewards they can get. It helps to always keep them notified through various marketing strategies such as promotional banners, custom-branded stickers and cardboard signages.

It would work even better if you can keep it personal, using language that would be easy for them to understand.

More reward redemption gifts and programs of other brands to learn from:

In this promotion, FairPrice, the largest supermarket chain in Singapore, consumers can earn 1 bonus point for every $30 spent on a single receipt and redeem Winnie The Pooh exclusive merchandise.

In a collaboration between known brands, customers can get a chance to redeem promotional cutlery sets by presenting 5 stamps they’ve saved with every purchase and adding $35! Read more:

A restaurant offered in-store redemption gifts as part of its customer loyalty program. For every 20RMB spent, customers will receive a coupon which they can exchange for a vacuum cleaner, BBQ grill, oven and many more!

In this promotion, consumers can collect their stamps through a phone app, MoneyBack, and redeem the limited edition merchandise with ease. Check out all details here:

This supermarket incentivises consumers simply by bringing their own bag through a ValuCard! The points their shoppers obtain can be deducted from their purchase or redeemed valuable kitchenware!

Accordingly,

Reward redemption is a great metric to measure consumers that are loyal to your brand and urge repeated purchases for new shoppers. The vital points that will keep consumers redeeming and purchasing are the ease of the mechanics, the value of the promotional merchandise, and how easy it is for them to redeem their promo gifts.

If you’re interested to run your own reward redemption, ODM can assist you! We specialise in the customisation of promotional products that would be valuable to your consumers and point-of-sale displays that increase brand awareness and are informational. Our creative team, Mindsparkz, will work with you through the brainstorming process until production. Contact us today!

For more benefits of working with us, we listed them all here:

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