What is Pay With Points?
Pay With Points is ampliFI’s innovative loyalty solution that engages cardholders with real-time notifications and engagement. Once enrolled, cardholders can redeem points directly after purchase for a statement credit to cover the cost of their purchase. Although this product is a great addition to your redemption options, successful loyalty programs require constant and consistent marketing to ensure that new and existing cardholders are being educated on how to maximize their earning potential, the program benefits, and reinforcing the value of your loyalty program. For financial institutions who offer or are interested in offering Pay With Points as a redemption option, our rewards specialists share three ways to successfully market Pay With Points to cardholders that will drive increased engagement and spend.
Incorporate Loyalty Program Information in Welcome Kit
When a new cardholder signs up for your debit and/or credit rewards card, they often receive a printed or digital welcome kit featuring information about their benefits and rewards program. It’s important to include appropriate marketing collateral for cardholders to learn and engage with your loyalty program, especially innovative, cash-like reward options like Pay With Points. The more information a cardholder receives early in their rewards journey, the more likely they will retain information and maintain a quality usage rate of their rewards card, ultimately resulting in increased spend and portfolio revenue. To market Pay With Points, our loyalty experts recommend building a digital welcome kit that can be sent to new cardholders with featured information about Pay With Points and how to maximize rewards earning potential.
Accessible Resources on Your Website
A cardholder will most likely search for information about Pay With Points on your financial institution website, therefore it is imperative you are armed with resources to aid in consumer knowledge and provide details they need. Offering your cardholders with a Pay With Points information resource, such as a landing page on your website or section in their welcome kit, can help them be more informed about the benefit of real-time rewards and be more engaged with your rewards program. Drive spend and transactions by adding Pay With Points information to guide cardholder awareness and engagement with your rewards program, establishing a long-term relationship between your brand and your cardholders. Our loyalty experts recommend creating an easily accessible page on your website that includes detailed information about your rewards program, highlighting how to redeem points using Pay With Points and showcasing the newest Pay With Points educational video to help them understand the value of real-time rewards.
Create an Educational Marketing Campaign
Loyalty marketing is more than promoting earning and redemption opportunities. Financial institutions should continually engage cardholders through various types of educational campaigns in order to forge a deep understanding of how to make the most out of their rewards card and maximize their usage for mutual benefits between you and your cardholders. Whether it’s in the cardholder’s welcome kit or an annual email campaign to existing cardholders, be sure to remind them about the perks of your rewards program.
Similar to Pay With Points, you can implement an educational marketing campaign by providing cardholders with rewards information that will help refresh their knowledge about Pay With Points and continually use the rewards program to redeem points in real-time. An educational marketing campaign can simply be created as an annual, recurring email to all cardholders as a reminder about the benefit of Pay With Points, including real-time communication channels, redemption process information and how Pay With Points works.
Don’t have Pay With Points? Our loyalty experts are here to help! Schedule a FREE virtual demo showcasing ampliFI’s loyalty solutions and Pay With Points by contacting firstname.lastname@example.org today!