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Things You Need To Know About Card Linking in Loyalty Programs
Shopping has never been easier than ever.
With the help of digital technology, we can buy things from the comfort of our homes. Some can even be at the touch of our hand within a matter of minutes. Indeed, technology has been a significant game changer in today’s market. Everything right now can be bought with ease.
In fact, this style of shopping has become the preferred way for most people.
As the peak of shopping emerges, businesses tend to maintain customer satisfaction through loyalty programs. Most businesses allow their customers to link their cards for a more convenient way of shopping, and in return, many businesses give various loyalty programs.
What Is Card Linking, And Who Is This For?
When people want to buy things, they can pay for them through various methods. One common payment method is through a card. Throughout the years, paying by card has been a normal thing. In fact, people have started paying their bills and other miscellaneous fees through cards.
Due to more and more people using it, there is no doubt why businesses use that phenomenon to their advantage.
Through card-linking technology, it is now possible to link credit or debit cards to another merchant. Retailers can set up offers which can be linked to their customers’ credit or debit cards through card-linked platforms. These platforms have direct affiliations with the major card providers (such as Visa, MasterCard and Amex).
Small and large businesses may find card linking an efficient way to manage customer data and reward programs. It can also be helpful in tracking customer shopping habits and improving customer service.
Nowadays, businesses allow card linking to make transactions more convenient for them and their customers.
This Is How Card-Linking Works
Patrons at your business can automatically use loyalty programs thanks to card-linking technology. These buyers can automatically earn points at points of sale by linking discounts and cash-back offers to their debit or credit cards.
Customers will receive merchant-funded offers from their favourite brands when they link their credit/debit card to a loyalty or rewards program. When this happens, there will no longer be a need for presenting QR codes or loyalty cards.
Your product or service buyers will link their payment cards to the relevant app or website to earn rewards from thousands of brands through rewards and loyalty platforms. They will redeem personalised discounts and cashback deposited into their bank account by spending at their favourite businesses.
A Strategy Not To Miss: Card-Linking And Your Business
When businesses start to think about ways that they can improve their online presence, linking cards is a great way to do so. When done correctly, card linking can help your business grow organically and rapidly.
Card linking can provide your business with valuable insights into customer behaviour. This information can be used to improve marketing efforts and grow your business organically. It can also help your business identify potential acquisitions or partners.
When a buyer links their card, it enables businesses to identify that person with their card number and can make that their basis for all future transactions. It also makes up for a good loyalty card, so there will be no need for a separate one. This improves user experience since it will be super convenient for customers who don’t want to carry multiple loyalty cards all the time.
It can also be a cheap and affordable loyalty program that will encourage your customers to shop more. Instead of offering a 50% coupon or a free pillow for every 1,000 worth of receipts– you can just give them more offers or 20% cashback which sounds more promising.
Aside from that, it can also be an alternative to usual cookie-based marketing. Data privacy has been all the rage in these ages. That’s why there is no wonder that other search engines like Safari and Firefox have already eliminated the feature of third-party cookies. And have you know, by 2024, Google Chrome will follow. Now, you may wonder how you are even going to use your website’s data if there will not be much user data acquired sooner or later.
Well, card-linked offers function as a cookieless marketing strategy where it can precisely target your consumer base without having to rely on third-party cookies. Through card-linking, you can use transaction data and purchase history as the primary measurement to figure out who you should be selling to.
Is It A Trendy Option For The Market?
There is a multi-billion dollar market for card-linked offers. Recent online-to-offline technologies have proven beneficial to both consumers and businesses, which is why CLOs have become so widespread.
Card-linked loyalty programs and card-linked offers are growing rapidly. A number of factors contribute to this growth, such as the shift to cashless spending, the convenience of using credit and debit cards, and the growing popularity of mobile payment apps. Our growth in emerging markets is set to accelerate as technology advances.
Consumers enjoy rewarding experiences that are gratifying. With card-linking, the surprise and delight of receiving relevant, personalised offers are automatically created with every purchase. As consumers experience positive experiences and see their points balance increasing, they are more likely to return and purchase more.
A Loyalty Program To Help Reach Your Business Goals
At DX United, we believe that card linking will play a key role in building richer connections between brands and their customers in the future. By linking cards and offering card-linked services, brands can improve customer experience and gain a deeper understanding of their clients.
The more people that come back for your card-linked offers, the more growth you’ll experience.
So if you want to experience that exponential growth from today going forward– use card-linked loyalty programs to your advantage.
And if you’re wondering where you’ll start, our loyalty program solutions for card-linked offers are here for your perusal. We also offer personalised rewards as part of your potential CLO. Awesome, right?
Let us know if you are considering including us in your request for proposals or if you would like to schedule a demo.
28 October, 2022