Missing the Point: $100 Billion in Loyalty Points Are Unclaimed
Posted in: UncategorizedAs more consumers participate in brand loyalty programs, more of those loyalty points are going unclaimed — to the tune of $100 billion, according to marketing firm Bond Brand Loyalty.
The problem for marketers is that if consumers aren’t taking advantage of the points they’re accumulating by cashing them in, they may not have a positive view of the program. (Worse, unclaimed rewards create a financial liability for brands.)
There are number of reasons why such bounty is left sitting in wallets. It is in part a question of educating consumers: Some brand loyalty marketers are failing to communicate reminders about redeemable points to program members.
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