More than 85% of Australians participate in at least one or more retailer loyalty and rewards programs, according to research from the Australian Loyalty Association.
Originally designed to find ways to keep customers coming back to a retailer, these quickly evolved as retailers began to partner with networks of other adjacent retailers, which ensured that customer rewards could be gained and redeemed not just with a single store, but with other like-minded stores (sometimes owned by the same parent company, sometimes simply through commercialised partnerships).
Consumers began to see the benefit of being able to spend money in one place, and gain benefit elsewhere.
The challenge for both consumers and retailers as the cost of living increased and wallets were squeezed however was this: the basic way to earn rewards is still for a consumer to spend money first, and the way to offer rewards is typically for a retailer to sacrifice profit margin in order to gain sales volume.
So, what if the consumer could earn redeemable reward points without spending money, and without the retailer sacrificing any margin?
That's where Fonto comes to the fore, providing loyalty program members the ability to earn rewards points in exchange for their opinions on a range of topics.
As one of Australia's fastest emerging and unique market research platforms, Fonto uses fully permissioned consumer transaction data to trigger customer experience surveys, and rewards them with either cash or rewards points for specific loyalty programs.
For retailers operating loyalty programs, this can improve engagement amongst members and increase their satisfaction with the rewards on offer from their preferred programs.
To find out more about how Fonto can partner with your loyalty program, reach out to the team.
ABOUT FONTO
Fonto are partnered with Mastercard Open Finance and Banking, using transaction data supplied by consumers to understand movements in retail spending and their customer experience for those purchases.
Consumer spending data is collected via Fonto's consumer member communities at Humaniti.com and Surveyz.com.au, with rewards for survey completion paid either directly in cash or as rewards points where the member is accessing a membership program survey.
