With the last few months of 2021 closing in quickly, many organizations have already started thinking about a business plan for 2022. However, it’s important to not lose sight of your 2021 goals and ensuring your fourth-quarter goals succeed as expected. For financial institutions, this is a crucial time of the year because consumers are spending more than usual for the upcoming holiday season, making it one of the leading quarters with the opportunity to engage cardholders within loyalty programs. To help you successfully wrap up your last quarter goals, our loyalty experts have put together three proven methods to help your financial institution end the year on a high note.
Three Methods To Achieve Your Fourth Quarter Loyalty and Financial Goals
1. Educate Your Cardholders
Regardless of a cardholder’s anniversary or how many years they’ve been a member, continually educating your cardholders about the value of your loyalty program will drive higher levels of engagement with your brand and overall cardholder loyalty. By raising awareness of program details, how to earn points and redeem for rewards, cardholders will begin to learn more about the competitive advantages of using your rewards card. Email marketing is one of many great tools to offer a simplified, educational format to communicate short bits of knowledge about your loyalty and rewards program.
2. Create Category Campaigns
Develop marketing campaigns for cardholders to earn bonus points on specific categories for a period of time, so they can spend and earn at a faster rate. Category campaigns encouraging cardholders to spend more result in consumer retention and ultimately increase your portfolio revenue growth. There are several marketing opportunities to encourage spend in the fourth quarter. Check out some of the example campaign ideas below.
- 2X bonus points at participating grocery stores in November to celebrate Thanksgiving and to purchase goods to give back to local food pantries
- Earn 1,000 bonus points when spending over $1,500 for select merchant categories in December for holiday shopping
- 3X bonus points on Black Friday, Cyber Monday and/or Small Business Tuesday purchases
Not only do cardholders benefit from receiving additional points to redeem for rewards, but your financial institution will see a boost in spend and transaction engagement as your card moves to top-of-wallet to use for special earning opportunities.
3. Promoting Real-Time Rewards
The holiday travel season brings a major surge in the market for fuel and in-store or online purchases. Offering cardholders the convenient power to redeem points directly at the pump for discounts or after a purchase as an account credit, can connect your cardholders with seeing the benefits of your loyalty program in action. Use the holidays to encourage spending with real-time rewards, offering cardholders an alternative to traditional redemption options. Promote Fuel With Points and Pay With Points through email, print and text marketing channels, guiding cardholders to earn points and save during the travel and holiday season.
Looking to gain traction on your Q4 financial goals and close the year with success? ampliFI is here to help! From targeted marketing services to a full suite of loyalty solutions, our specialists make your goals our goals, and we aim to help you to drive cardholder engagement. Contact us today at sales@amplifiloyalty.com to schedule a demo or visit amplifiloyalty.com to explore product offerings.
*Please note that promotion development timeframes can vary. Please consult your ampliFI Relationship Manager for more information on next steps and timing.