What do you attribute to the rise in loyalty programs among U.S. consumers?
Our team at Versify Labs believes the rise in consumer participation in loyalty programs is correlated with brands developing compelling value propositions in the digital space. Loyalty programs today have to offer seamless and integrated applications to heighten the consumer experience to stay competitive. Our team has worked closely with high-quality brands to build and offer compelling value propositions, like NFT ownership, to their loyalty stack.
2. What are your best strategies for getting the most out of consumer/customer loyalty programs?
Versify Labs recommends reading the rules of engagement, schedule, and value proposition for engaging with the program. As a user, you must understand the system you are participating in to gain the appropriate value.
What are the biggest mistakes customers make with loyalty programs?
Versify Labs believes they sign up for too many programs and do not use them appropriately. We recommend looking into and signing on to the top 5 brand loyalty programs you consistently use. In addition, we recommend checking your financial statements if you are unsure which programs they are.
3. What are companies and retailers doing to attract more loyalty business in a time of high inflation?
Companies and retailers offer more within their loyalty programs while offering discounts on their products. Brands are engaging with our platform at Versify Labs to create and distribute NFTs to their loyal customers to extend this value. In addition, our team has seen brands begin to invest more resources in digital collectibles and metaverses. Brands know that they will have more opportunities to create & control online communities to personalize environments for their consumers.