As the holiday season approaches, many U.S. consumers are eagerly planning their travels, mapping out reunions, and anticipating quality family time. What they aren’t looking forward to? The increasing cost of gas.
Higher gas prices mean consumers spend more money at the pump now than they have in a year. According to Visa’s Spending Momentum Index (SMI)1, the gas SMI in the U.S. has increased by more than 16 points in response to a 6.8 percent increase in gas prices. These prices, combined with inflation and high interest rates, mean your cardholders are looking for relief wherever possible. It is now more important than ever to support their financial goals and offer innovative solutions to their economic concerns.
Empower Cardholders with Fuel With Points
Fuel With Points is a loyalty solution that enables cardholders to redeem their accumulated reward points for gasoline at participating fuel providers, satisfying the growing desire of cardholders to save money at the pump as gas prices rise. In a 2022 study by Gartner2, 40 percent of surveyed consumers used a dedicated card for discounts at the pump. Ross Cosner, VP Analyst at Gartner, emphasizes how brands with loyalty cards are better positioned to adapt to fluctuating markets. By offering Fuel With Points, you demonstrate an understanding of your cardholders’ financial motivations and concerns, establish your role as a trusted financial partner, and strengthen your bottom line.
Communication is Key
Effective communication is critical to ensure your cardholders know the potential fuel savings offered by Fuel With Points. You can achieve this through regular emails, newsletters, or updates highlighting the program’s benefits. By clearly conveying the value of their rewards and explaining how they can benefit from them,you can significantly improve their engagement, enhance their perception of the program’s value, encourage more redemptions, and ultimately boost retention.
Utilize Your Marketing Portal: In your journey to keeping cardholders informed, don’t overlook the customizable, branded materials available in the ampliFI Marketing Portal. It simplifies the process, allowing you to effectively convey the benefits of Fuel With Points without starting from scratch.
Harness the Power of Social Media and Your FI Website: In today’s digital age, social media is invaluable for reaching your audience. By featuring Fuel With Points and highlighting your rewards program on your financial institution’s social media platforms and website, you can create a consistent, engaging presence that reinforces the program’s value. To help you educate cardholders and promote the benefits of Fuel With Points, share this short video on your social media channels and your institution’s website.
Remember, in the world of loyalty programs, effective communication is your key to unlocking the door to a more engaged, satisfied, and loyal cardholder base.
Learn more about ampliFI’s suite of Real-Time Rewards by connecting with our loyalty experts at email@example.com, or click below to get started.