Loyalty is big business, reaping huge 'rewards' for retailers and brands alike. From store level to coalition, loyalty has pretty much touched every sphere of consumer transaction and behaviour. One of the last bastions for loyalty has been in consuming content, and the new Amazon moments program may have just broken ground for that and much more.
Managing the running costs and offering both of 'physical' & 'digital' rewards has been the goal of large and small brands alike. Amazon, appears to have solved for both.
Amazon Moments, a self service loyalty program, has been under testing for over a year now, undertaking pilots with a wide array of brands, incentivizing customer 'actions' and 'purchases'.
How does it work?
Quite simple really. Marketeers set the specific goals they want their customers to reach at Amazon Moments - download an app, make purchases of a specified value, refer others etc. and the customers just redeem their reward.
It works on a CPA (cost per action) principle, making it simple and cost efficient. Marketeers access a console to manage and measure their programs.
Simple, powerful and clean. The early adopters have already reported good customer results.
What makes this an inflection point?
From a customer's perspective, i would love to be incentivized for watching a programme on Amazon prime or any other media. In essence, driving consumption of digital content like never before. A landmark for digital consumption brands as the battle for eye balls intensifies and the divide between TV, cable, mobile etc gets increasingly blurred.
Amazon has already become a significant player in the global search and online impressions space. With this, they are set to disrupt the multi billion dollar loyalty business and more importantly allow individual suppliers and brands to run loyalty programs like the big boys!
I just love the seamless and infinite opportunities, with a catalogue of digital & physical benefits. Not clunky or bothersome, just simple.
#loyalty #amazon #experience #customer