Americans Waste $16 Billion in Potential Loyalty Rewards Annually - Page 2
"If redemption equals engagement and engagement delivers customer satisfaction and profits, then loyalty marketers should encourage their members to make the most of their rewards," she said, as quoted by a COLLOQUY press release. "In short, redemption is good."
Nancy Gordon, chief operating officer of Swift Exchange, seems to agree.
"Three decades after the inception of the modern frequent flyer program, the rewards industry is ripe for a transition from a culture of accumulation to one of realization in the fullest sense," she said. "That means helping consumers make rewards-based purchases as easily as they buy anything else in their daily lives.”
While Gordon is hinting at exactly the service Swift Exchange provides, her sentiment is valid nonetheless. Simplifying rewards programs would significantly decrease the number of wasted points and miles while also inspiring more widespread, ardent consumer loyalty to companies and brands. If rewards programs were truly straightforward, consumers would be more inclined to shop at a select few stores that offer the best perks. As things are now, seemingly every retailer has a similar program and consumers typically hunt for one-time deals rather than prolonged relationships with companies.