How Card-Linked Rewards are Taking the Friction Away for Consumers
Rewards programs have been around for decades, but they haven’t always been the most user-friendly. Customers have had to carry around loyalty cards or enter special codes to earn rewards, which can be a hassle. However, with the rise of card-linked rewards, this is changing. These programs are taking the friction away for consumers, making it easier than ever to earn rewards.
So, what exactly are card-linked rewards? These programs are designed to link rewards to your credit or debit card, so you don’t need to carry around a separate loyalty card or remember special codes. Instead, when you make a purchase at a participating retailer, your rewards are automatically added to your account. This not only saves time and effort for customers, but it also increases the likelihood of them using the rewards.
Card-linked rewards are particularly popular among millennials and Gen Z, who are always on the lookout for ways to save money. They appreciate the convenience and ease of use that card-linked rewards offer. In fact, according to a recent survey, 71% of millennials said they would be more likely to use a card-linked rewards program if it was offered by their bank.
Another benefit of card-linked rewards is that they are more transparent than traditional loyalty programs. Customers know exactly what rewards they will earn and when they will receive them. This transparency helps build trust and encourages customers to engage with the program.
Card-linked rewards are also incredibly flexible. Unlike traditional rewards programs, which often have restrictions on how and when rewards can be redeemed, card-linked rewards allow customers to use their rewards whenever they want. For example, if you earn cashback through a card-linked rewards program, you can typically use that cashback to pay off your credit card bill, rather than being limited to using it to purchase specific products.
Finally, card-linked rewards are becoming increasingly popular with retailers. These programs provide retailers with valuable insights into customer behavior, which they can use to create more targeted marketing campaigns and improve customer experiences. This benefits both the retailer and the customer, as it creates a more personalized and engaging shopping experience.
In summary, card-linked rewards are taking the friction away for consumers, making it easier than ever to earn rewards. These programs offer convenience, transparency, flexibility, and personalization, which makes them incredibly appealing to today’s consumers. As card-linked rewards continue to grow in popularity, it’s likely that we’ll see more and more retailers and credit card companies jumping on board.
Here are some deep links to relevant resources that you may find useful:
How Card-Linked Offers Are Driving Increased Loyalty: https://www.forbes.com/sites/forbestechcouncil/2021/07/21/how-card-linked-offers-are-driving-increased-loyalty/?sh=388e4c4a4ef4
What Are Card-Linked Rewards Programs?: https://www.nerdwallet.com/article/credit-cards/card-linked-rewards-programs
How Card-Linked Rewards Programs Can Benefit You: https://www.thebalance.com/how-card-linked-rewards-programs-can-benefit-you-4173834